Delaware Valley Regional Finance Authority

The next Agenda Meeting and Public Meeting of the Board of Directors will be held at 3:00 P.M. and 4:00 P.M., respectively, on November 8, 2021, at 1811 Bethlehem Pike, Flourtown Commons, Suite C350, Flourtown, PA 19031. Individuals who wish to attend the meetings virtually or by telephone should contact the Administrator at (215) 402-0270 no later than 2:00 P.M. on the day of the meeting for instructions. The Agenda for the meetings is posted under the link "Current Information on DelVal" at the bottom of this page.

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 $998 million of Loans to 125 different local governments are outstanding.

loan rates
bond comparison

*Based on actual spreads to "AAA" indices and actual issuance costs.
**Based on Bloomberg "AAA" General Obligation indices with a 5% coupon, 10-year option, and actual issuance costs.
*** Based on actual rates and issuance cost. The option is not likely to be economic when the rate is below 2%.
Past results are not a predictor of future spreads and costs.

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 approximately 0.42% 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.