$50 Million Revolving Credit Facility for City Capital Projects
Long Beach
Summary
The Finance Authority signed off on lease revenue bonds that pay for Fire Station 9, the police crime lab and DNA lab, the Police Academy, EV charging stations, Belmont Pool and Convention Center improvements, plus infrastructure across the city. The deal also refinances 2019B open-space bonds. This is the financing mechanism behind a big chunk of the city's capital improvement budget.
At a glance
- Total mentions
- 7
- Last 30 days
- 1
Discussed at 2 meetings in the last 60 days; most recently Oct 28, 2026.
Impact analysis
Bond proceeds fund major capital projects; the refunding of older bonds is intended to manage the city's debt service costs.
Residents get funded police, fire, park and infrastructure upgrades across the city.
Critics argue future taxpayers will pay more through long-term bond refinancing.
Mentions & discussions (7)
Finance Authority of Long Beach - Oct 28, 2026
The Finance Authority signed off on lease revenue bonds that pay for Fire Station 9, the police crime lab and DNA lab, the Police Academy, EV charging stations, Belmont Pool and Convention Center improvements, plus infrastructure across the city. The deal also refinances 2019B open-space bonds. This is the financing mechanism behind a big chunk of the city's capital improvement budget.
City Council - Sep 22, 2026
The council approved $155 million in revolving credit lines — gas, sewer, and General Fund — to keep the FY27 capital program moving as idle cash runs low. Councilwoman Duggan objected to the Wells Fargo-backed General Fund piece.
Utilities Commission - Special Meeting - Aug 27, 2026
The utilities department set up $105 million in combined short-term borrowing capacity to fund gas pipeline replacement and sewer improvements without taking on long-term debt up front. Rates and fees are covered by utility revenues, and the debt stays within required coverage ratios.
Long Beach moves to borrow $50 million against city buildings
The last time the city sought a line of credit like this was during the pandemic, when it was worried about relief funds arriving in time. The post Long Beach moves to borrow $50 million against city buildings appeared first on Long Beach Business Jo...
Long Beach moves to borrow $50 million against city buildings
Long Beach moves to borrow $50 million against city buildings Long Beach Post
Finance Authority of Long Beach - Aug 5, 2026
The city set up a line of credit with Wells Fargo that can tap up to $50 million at a time to pay for capital projects and equipment. Three city properties — the Lincoln and Broadway parking garages and the Silverado Park pool building — back the deal through a lease-leaseback structure, and the city repays it from the General Fund.
Parks and Recreation Commission Governance Committee - Jan 8, 2026
Public Works will present the city's five-year Elevate 28 capital program at next week's commission meeting, covering dozens of park projects including the MacArthur Park redo and new playgrounds at Silverado, Ramona and Davenport parks.
We'll email you when it's on an upcoming agenda and when it's voted on, at most once a day.
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