Diversified Municipal Finance Corporation

“Serving the financing needs of government for over 40 years”

Diversified Municipal Finance traces its leasing history back to 1963 when H.J. Vaughn did his first build-lease of an elementary school.

Now, as it did then, leasing provides an alternative form for financing and construction of various types of projects needed, or desired, by various clients. Diversified has provided build/lease and financial advisory services to cities, counties, port authorities, park districts, airport authorities, and other governmental agencies as well as corporate clients.

We have spent the last forty-eight years working on the lease-financing of real estate and attached chattel items.  Frequently we are called upon to provide what has become known as a "turn-key lease".  In that type of arrangement, Diversified assumes the responsibility for the design, construction, and financing of a building and other improvements.  Using that approach can relieve the sponsoring entity of a great deal of time yet it allows total control over the plans and specifications by the client, assuring compliance with the client's requirements.

In some situations we use a designer/architect selected by the client and provide only the construction and financing for the transaction.  In other instances, we provide only the financing and the client directs all design and construction just as in the more traditional project development and financing. 

Land can be acquired as a part of the transaction, or land currently held by the client can be utilized.  In addition, all fees, charges and development costs can be included in the financing so that governmental client is not required to advance any funds whatsoever. 

At the closing/signing of the transaction, the full amount of the financing is deposited with a trustee or escrow agent, assuring that all funds are available for the project.  Disbursements for construction are made with mutually agreed upon instructions so that proper disbursement can be made on a monthly (or other agreed upon basis) by the trustee or escrow agent. 

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