City Of Chula Vista
Like Us on Facebok   Follow us on Twitter - ThinkChulaVista!   

City of Chula Vista Site Map Contact Us City Calendar of Events Frequently Asked Questions City Services What's New In Chula Vista Chula Vista Attractions About Chula Vista Chula Vista Home
Whats New Arrow
All News Releases  
City Calendar  
Community Connection Newsletter  
Newsletter Archives  
blocker blocker


  What's New

Back To News

City’s RDA Bond Rating Upgraded
In a report released this week, Standard & Poor’s (S&P) announced the underlying rating of the City of Chula Vista’s Redevelopment Agency’s outstanding tax allocation bonds has been raised one notch, from A- to A. The change reflected an improved outlook for the agency’s merged project area and was triggered when the city approached S&P to refinance 2000 tax allocation bonds. Bonds are being issued to generate $3.7 million to pay a portion of a loan due to the city. The merged project area includes more than 2,500 acres of mostly residential and commercial properties east and west of I-805.

Standard and Poor’s is the nation’s foremost provider of independent credit ratings. In its report, S&P attributed the raised rating to “the project area’s continued strong growth and diversification.”

“The upgrade will save taxpayers money,” noted City Finance Director Maria Kachadoorian. “It’s a positive and welcome trend after a year of serious belt-tightening. The improved rating translates into interest rate savings as we work towards refunding the 2000 tax allocation bonds.”

City Of Chula Vista



Arrrow Back To Top  


©2013 City of Chula Vista. All Rights Reserved.

Employees Only