Article: Unrated $88M CDA Offering to AidDevelopment in Virginia County.

WASHINGTON -- The New Kent Community Development Authority in Virginia is gearing up to sell $88.3 million in tax-exempt special assessment bonds through negotiation on Sept. 7 to finance infrastructure tied to a large mixed-use development called the Farms of New Kent. San Francisco-based Stone & Youngberg LLC is the lead underwriter on the deal, which consists of unrated debt. The West Coast firm is pushing to expand its business on the East Coast and specializes in this type of unrated CDA deal, which is by far the largest of its kind in Virginia and the first for New Kent County. The county, located east of Richmond, has no outstanding rated debt.

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