Delaware Valley Regional Finance Authority
Bucks, Chester, Delaware, and Montgomery counties created the Delaware Valley Regional Finance Authority (“DelVal”) in 1985 to provide loans to local governments in Pennsylvania (the “Loan Program”). Loans are limited to funding capital projects as defined in the Local Government Unit Debt Act. DelVal does not originate Loans for tax and revenue anticipation, industrial development, higher education facilities, or health care facilities. Each Loan must be secured by the pledge of the full faith, credit, and taxing power of a local government unit or a similar enforceable contractual agreement. Since 1985, DelVal has originated $3.7 billion of Loans to more than 200 local governments in 16 counties. Currently, approximately $956 million of Loans to 123 different local governments are outstanding.
DelVal has been successful due to the low-interest costs and costs of issuance that the program affords. For the past year, the weighted average All-In True Interest Cost of the bond issues in DelVal’s market area has been more than 0.75% higher than a comparable DelVal loan with the same optional redemption provisions.
Please see the current Quarterly Activity Report and Program Administrator's Report under the link to "Current Information on DelVal" below for more information. You will be redirected to a document library in a Box Folder.