OVERVIEW

Compass provides ongoing cash management and investment services to the Lexington Center Corporation in connection with the Rupp Arena and Central Bank Center Renovation Project. Our services include the investment of project fund and debt service reserve fund proceeds in excess of $263,000,000. Income generated from the investments go back into the project to fund construction expenses and to offset debt service payments.

FINANCING PLAN

Compass worked with Corporation’s Board Members, staff and the construction team to structure an investment strategy around the projected construction draws while maintaining liquidity for unexpected expenses and flexibility. Our strategy allowed the Corporation to lock in a blended fixed rate 2.75% for $186,800,000 in project fund proceeds via a governmental agency bond portfolio. The portfolio was competitively bid in December 2018, prior to the interest rate reductions that occurred in the bond market in 2019 and 2020.

PROJECT SCOPE

$263,000,000

SCOPE OF SERVICES

Investment and Cash Management