Garfield performed financial and development planning and design services for this fully-enclosed, state-of-the-art, 7,000-seat flexible indoor concert venue planned for the County Fairgrounds in San Jose.
In conjunction with Citigroup, Garfield led the creation of a tax-exempt revenue bond financing structure – a solution that would not require credit support from the County, yet positioned the County to be the sole recipient of all profits and the residual value of the theater.
Developer services provided include oversight of the market feasibility consultant, leadership of and collaboration with the financing and legal team, oversight of development planning, design, value-engineering and establishment of a Guaranteed Maximum Price.
Developer also advised the County in the negotiation of a 15-year Qualified Management Agreement (QMA) with House of Blues to operate the venue, in accordance with federal regulations governing the operation of facilities financed with tax-exempt bonds.
“The Developer did an excellent job and I am pleased to recommend them. I appreciate their expertise, understanding of the issues, leadership of the team and “can do” attitude. I would enjoy doing another project with them.”
— Patrick Love, Development Director, County of Santa Clara (2000 – 2009)