BACKGROUND INFORMATION FOR 135 TH AND METCALF PROJECT

Transcription

1 BACKGROUND INFORMATION FOR 135 TH AND METCALF PROJECT APRIL 14, 2004

2 STIFEL, NICOLAUS BACKGROUND INFORMATION PAGE 2 HISTORY OF STIFEL NICOLAUS Stifel Nicolaus is a full service securities firm providing public finance and corporate finance investment banking services, brokerage trading, investment advising and related financial services to individuals, institutions, governments and corporations. Stifel Nicolaus is a wholly owned subsidiary of Stifel Financial Corporation, a publicly held company. The firm was founded in St. Louis, Missouri in 1890 and today is one of the largest regional investment-banking firms in the Midwest, with its headquarters in St. Louis. The common stock of Stifel Financial Corporation is traded on the New York Stock Exchange and the Chicago Stock Exchange under the symbol "SF". In October of 2000, Forbes Magazine named Stifel Nicolaus as one of the 200 Best Small Companies in America. The strategic acquisition in January 2000 of another regional broker dealer, Hanifen Imhoff, Inc., based in Denver, Colorado, allowed Stifel Nicolaus to nearly double its brokerage and investment banking presence. Today, the Firm has a significant presence in 15 states with 422 retail sales representatives and 23 institutional salesmen working in 83 offices. Although the securities industry has, in recent years, undergone significant downsizing in both brokerage and investment banking, Stifel Nicolaus sees opportunities to grow strategically and will continue to hire professionals and support staff in public finance, corporate finance and in the brokerage division of the Firm.

3 STIFEL, NICOLAUS BACKGROUND INFORMATION PAGE 3 MIDWEST PRESENCE Stifel Nicolaus is a dominant investment banking firm in the Midwest with a strong local presence in the City of Kirkwood. STIFEL NICOLAUS OFFICE LOCATIONS (83) Alton, IL Edwardsville, IL Marion, IN Southlake, TX Appleton, WI Englewood, CO Mattoon, IL Springfield, MO Belleville, IL Fort Collins, CO Merrill, WI St. Louis, MO Beloit, WI Fort Wayne, IN Milwaukee, WI St. Paul, MN Brookfield, WI Fremont, MI Minnetonka, MN St. Peters, MO Camdenton, MO Geneva, IL Mound City, KS Stevens Point, WI Champaign, IL Glenwood Springs, CO New Albany, IN Texarkana, TX Chesterfield, MO Grand Haven, MI New Orleans, LA Traverse City, MI Chicago, IL (2) Grand Rapids, MI Olympia Fields, IL Valparaiso, IN Cincinnati, OH Green Bay, WI Omaha, NE Waterloo, IL Clayton, MO (2) Gulfport, MS Oshkosh, WI Wausau, WI Colorado Springs, CO Indianapolis, IN Overland Park, KS Wayzata, MN Columbia, MO Jackson, MS Pikeville, KY West Bend, IN Columbus, OH Jefferson City, MO Quincy, IL Westlake, OH Dallas, TX Joplin, MO Racine, WI Wichita, KS Dayton, OH Kansas City, MO Rochester, MN Wilmette, IL Decatur, IL Kirkwood, MO Rockford, IL Winter Park, FL Denver, CO Louisville, KY Rolla, MO Woodbury, MN Dublin, OH Madison, WI Sandusky, OH Youngstown, OH Eau Claire, WI Manhattan, KS Shelbyville, KY Edina, MN Mansfield, OH South Bend, IN Stifel Nicolaus has 34 investment bankers in the Midwest market providing underwriting and financial advisory services in Illinois, Missouri, Kansas, Wisconsin, Nebraska and Colorado. One of the most important factors determining the success of a public finance department is the quality of professionals employed and the resources dedicated to their support. Stifel Public Finance has been an essential division of Stifel Nicolaus for over 75 years. Our clients include development authorities, cities, counties, school districts, colleges/universities, private schools, not-for-profits, healthcare providers, Transportation Development Districts (TDD s), Tax Increment Financing (TIF) Districts, levee districts, community colleges and state agencies. Stifel Nicolaus investment bankers have more than 160 years of public finance experience and nearly 75 years of local government service. FIRM CAPITAL CAPITAL /31/03 Total Capital $49,436,000 $53,866,000 $68,823,000 $77,921,000 $83,990,601 $86,371,000 Equity Capital $49,436,000 $53,866,000 $68,823,000 $75,292,000 $80,367,870 $83,459,000 Net Capital $28,509,000 $31,917,000 $37,105,000 $37,646,000 $43,632,870 $47,172,000 Excess Net Capital $23,106,000 $24,811,000 $29,915,000 $31,701,000 $37,107,178 $41,464,000

4 STIFEL, NICOLAUS BACKGROUND INFORMATION PAGE 4 PROFESSIONAL TEAM PETER J. CZAJKOWSKI Credit Analysis and Support 135TH AND METCALF TRANSPORTATION DEVELOPMENT DISTRICT (OVERLAND PARK, KANSAS) JAMES J. LAHAY Lead Banker and Primary Contact CARL E. RAMEY Investment Banking Support EDWARD L. POTH Manage Bond Marketing Process MICHAEL F. IMHOFF Institutional Pricing & Syndication The primary contact will be Jim Lahay. He will be supported by a team of experienced bankers and a sales force committed to the success of the financing. JAMES J. LAHAY 314/ / (fax) lahayj@stifel.com JAMES J. LAHAY, SENIOR VICE PRESIDENT. Mr. Lahay provides financial advisory and investment banking services to cities, counties, school districts, colleges/universities and other selected public and private entities. His efforts are focused in the Midwest region on public facilities, basic infrastructure projects, tax increment financings, transportation development districts, levee districts and special project financings for sports and recreational facilities. Mr. Lahay joined Stifel Public Finance in He has 16 years of government experience. He served as Administrative Assistant to the St. Louis County Executive, Coordinator of the St. Louis County Community Development Program and Assistant Director of the Land Clearance for Redevelopment Authority for the City of Wellston. Mr. Lahay served as the lead banker for 149 financings including the St. Charles County Family Arena; Monarch-Chesterfield, Howard Bend, Consolidated North County and Earth City Levee Districts; and 23 development related financings in Kirkwood, Lee s Summit, Maplewood, Hannibal, Wentzville, Sunset Hills, Brentwood, Bel-Ridge and Richmond Heights. Mr. Lahay received a Bachelor of Science Degree in Political Science from Southwest Missouri State University and a Masters in Public Administration from Harvard University, specializing in government and business.

5 STIFEL, NICOLAUS BACKGROUND INFORMATION PAGE 5 Mr. Czajkowski will provide analytical and financial expertise. PETER J. CZAJKOWSKI, SENIOR VICE PRESIDENT. Mr. Czajkowski joined Stifel s Public Finance Department in 1986 and heads the firm s Structured Finance Group. Mr. Czajkowski also heads the firm s internal credit review committee that has facilitated the firm s expansion in its underwriting capabilities. In addition, Mr. Czajkowski is responsible for the development and implementation of innovative tax-exempt and taxable issues to finance construction projects, minimize short-term borrower costs, refund outstanding debt obligations and maximize returns from invested funds. Under Mr. Czajkowski s direction, Stifel Public Finance has managed numerous complex, multi-staged transactions. He has developed several innovative borrowing and investment techniques, which have become recognized in the industry. Mr. Czajkowski s experience includes working with a broad variety of clientele including public and private education, not-for-profit and for-profit healthcare providers, non-traditional not-for-profit organizations, as well as traditional municipal borrowers. Mr. Czajkowski began his career in public finance with Clayton, Brown and Associates in Chicago. He subsequently joined Stifel Public Finance after receiving an M.B.A. from the University of Illinois. He earned a bachelor s degree in finance magna cum laude from the University of Illinois in CARL E. RAMEY, FIRST VICE PRESIDENT. As a recent addition to the Stifel Nicolaus public finance team, Mr. Ramey s focus and account coverage includes cities, counties, school districts, and other governmental agencies, such as Library, Fire and Water Districts in the Missouri and the Midwest region. With thirty years of experience in local government in three states, Missouri, Iowa and Illinois, Mr. Ramey has extensive experience in the area of public finance and bond transactions. He has served as the City Manager for three communities: Webster Groves and Wildwood, Missouri and Marion, Iowa, and was an assistant City Manager in Lombard and Oak Park, Illinois. During his career in the public sector, Mr. Ramey also served as the Executive Director of a countywide commission in Missouri, the St. Louis County Boundary Commission. Mr. Ramey has a Bachelor s Degree in Political Science from Elmhurst College and a Master s Degree in Public Administration from Roosevelt and is a Registered Municipal Securities Representative (Series 52) NASD. Stifel Nicolaus will use an aggressive bond marketing strategy calling on individual, institutional and fund investors. The bond marketing process will be managed by Mr. Ed Poth.

6 STIFEL, NICOLAUS BACKGROUND INFORMATION PAGE 6 EDWARD L. POTH, FIRST VICE PRESIDENT. Mr. Poth has served as Manager of Municipal Bond Trading at Stifel since Previously, Mr. Poth worked for Edward Jones as a Limited Partner in Municipal Trading and as a manager in the Unit Trust Department. Mr. Poth is responsible for the pricing and syndication of all municipal underwriting activity of the firm in the Midwest region and is responsible for the pricing, syndication and underwriting of retail bonds that the firm manages in regions outside of the Midwest. Mr. Poth is a 1983 graduate of St. Louis University (B.S. and B.A. in Finance) and received his M.B.A from Washington University, St. Louis. More particularly, Mr. Poth has been actively involved in pricing St. Louis County issues for over 13 years. Most recently, he successfully priced the $90,000,000, 1998 General Obligation Refunding of the County in difficult market conditions. His experience will be very valuable as the financing progresses. MICHAEL F. IMHOFF, MANAGING DIRECTOR, MUNICIPAL SYNDICATE AND TRADING. Mr. Imhoff has 17 years of experience in Municipal Sales and Trading. Prior to joining Stifel, Mr. Imhoff worked on the floor of the New York Commodity Exchange ( COMEX ) and was with Isaak Bond Investments Inc. as a municipal bond trader. He joined Hanifen Imhoff, Inc. as an institutional salesman in 1987 and joined the municipal trading desk in acquired Hanifen Imhoff, Inc. in 2000, thus Mr. Imhoff has been officially employed by the firm since Mr. Imhoff manages Stifel s syndication and trading desks, overseeing new issue pricing and distribution and directing secondary market trading. His negotiated experience includes syndication of general market securities in Colorado, Florida, Kansas, Illinois, Missouri, Montana and Wisconsin, and competitive experience includes nearly every state in the union. Mr. Imhoff received his B.S. degree in Finance (1985) at the University of Colorado, Boulder, and also studied International Finance at the London School of Business in England.

7 STIFEL, NICOLAUS BACKGROUND INFORMATION PAGE 7 REFERENCES Randy McDaniel, Finance Director CITY OF FLORISSANT, MISSOURI 955 Rue St. Francois St. Florissant, MO / CONRAD LAMB, FINANCE DIRECTOR CITY OF LEE S SUMMIT, MISSOURI 207 SW Market Street Lee s Summit, MO / CHRISTOPHER SEEMAYER, CITY ADMINISTRATOR CITY OF BRENTWOOD, MISSOURI 2348 South Brentwood Boulevard Brentwood, MO / JOSEPH ERLANGER, VICE PRESIDENT-FINANCE, DESCO 314/ MARIAN NUNN, CHIEF OPERATING OFFICER, THF REALTY 314/ WENTZVILLE TRANSPORTATION DEVELOPMENT DISTRICT TERRY MILAM, CITY MANAGER CITY OF ST. JOHN, MISSOURI 8944 St. Charles Rock Road St. John, MO /

8 STIFEL, NICOLAUS BACKGROUND INFORMATION PAGE 8 12/17/03 STIFEL NICOLAUS TAX INCREMENT AND TRANSPORTATION DEVELOPMENT DISTRICT COMPLETED FINANCINGS Par Date Issuer Type Amount Role /03 The Industrial Development Authority Tax Increment Refunding Revenue 19,040,000 S of the City of Florissant, Missouri Bonds, Series 2003 (City of Florissant-Cross Keys Redevelopment Project) 03/03 Southwestern Illinois Development Local Government Program 9,450,000 S Authority (City of Fairview Heights Revenue Bonds, Series 2003 Project) /02 Village of Cahokia, St. Clair County, IL Tax Increment Financing Project 1,970,300 FA 12/02 City of Brentwood, Missouri Tax Increment Refunding Revenue 22,900,000 S (Brentwood Promenade Project) Bonds, Series /02 City of St. John, Missouri Tax Increment and Transportation 6,740,000 S (St. John Crossings Redevelopment Development Revenue Bonds, Project) Series /02 City of Ballwin, Missouri Tax Increment Refunding and 20,100,000 FC (Ballwin Town Center Redevelopment Improvement Revenue Bonds Project) Series 2002A and B 05/02 The Industrial Development Authority Tax Increment and Transportation 9,500,000 S of the City of Hannibal, Missouri Development Refunding and (Stardust-Munger-Diamond Improvement Revenue Bonds, Redevelopment Project) Series /02 City of Madison, Madison and St. Clair Debt Certificates, Series ,530,000 PA Counties, Illinois (Clover Leaf and East Madison Sewer Project) 03/02 The Wentzville Transportation Transportation Revenue Bonds, 3,970,000 S Development District (Wentzville, Series 2002 Missouri) 1 S -- Senior Manager C -- Co-Manager FA -- Financial Advisor PA -- Placement Agent FC -- Financial Consultant to the Developer

9 STIFEL, NICOLAUS BACKGROUND INFORMATION PAGE /01 Brentwood Pointe Transportation Transportation Revenue Bonds 6,770,000 S Development District (Brentwood, MO) 12/01 City of Brentwood, Missouri Tax Increment Refunding and 8,330,000 S (Brentwood Pointe Project) Improvement Revenue Bonds, Series /01 City of Brentwood, Missouri Tax Increment Refunding and 15,660,000 S (Brentwood Square Project) Improvement Revenue Bonds, Series /01 The Industrial Development Authority Tax Increment Revenue Bonds, 2,780,000 S of the County of St. Louis, MO Series 2001 (CityPlace III/IV Project) 09/01 City of Edwardsville, Illinois General Obligation Refunding Bonds, 1,255,000 S (Enlarged Central Area Series 2001 Redevelopment Project) 07/01 I-470 and 350 Transportation Development Transportation Revenue Bonds, 14,755,000 S District (Lee s Summit, Missouri) Series /01 City of Wood River, Illinois General Obligation Bonds, Series ,480,000 S (East Central Area Redevelopment Area TIF Project) 05/01 City of Lee s Summit, Missouri Tax Increment Revenue Bonds, 16,765,000 S (Summitwoods Crossing) Series /00 The City of St. Louis, Missouri HUD 108 Loan 50,000,000 PA (St. Louis Convention Center Headquarters Hotel Project) 11/00 City of Wood River, Illinois General Obligation Refunding 505,000 S (East Central Area Redevelopment Area Bonds, Series 2000 TIF Project) 07/00 City of Madison, Madison County, Illinois Debt Certificates, Series ,850,000 PA (Fire Station Project) 05/00 City of Kirkwood, Missouri Tax Increment Refunding and Improvement 20,375,000 S (Kirkwood Commons Project) Revenue Bonds, Series /99 Southwestern Illinois Development Local Government Program 8,000,000 S Authority (City of East St. Louis Revenue Bonds, Series 1999A Tax Increment Financing Project) Casino Queen 02/99 City of Maplewood, Missouri Tax Increment Refunding 5,045,000 S (Shop N Save Project) Revenue Bonds, Series /98 City of Hiawatha, Kansas General Obligation Tax Increment Bonds, 115,000 FA (Part of a $390,000 financing) Series A, 1998

10 STIFEL, NICOLAUS BACKGROUND INFORMATION PAGE 10 04/98 City of Sunset Hills, Missouri Tax Increment Refunding Revenue Bonds, 930,000 S (The Shoppes at Sunset Hills Project) Series /98 City of Brentwood, Missouri Tax Increment Refunding Revenue Bonds, 26,310,000 S (Brentwood Promenade Project) Series /97 City of Sunset Hills, Missouri Tax Increment Refunding Revenue Bonds, 9,115,000 S (Sunset Hills Plaza Project) Series /97 City of Delray Beach, Florida Tax Increment Financing District 7,120,000 FA Community Redevelopment Agency Revenue Bonds, Series 1997A & B and Earlier - 12/96 Village of Bel-Ridge, Missouri Tax Increment Refunding Revenue Bonds, 8,085,000 S (170 Business Center Project) Series /94 City of Richmond Heights, Missouri 4.50% Tax Increment Refunding 15,760,000 S (Saint Louis Galleria Revenue Bonds, Series 1994 Redevelopment Area) 01/93 Boca Raton Community Redevelopment Tax Increment Revenue Bonds, 65,048,000 C Agency (Mizner Park Project) Series /91 City of Richmond Heights, Missouri 6.75% Tax Increment Refunding 18,605,000 S (Saint Louis Galleria Revenue Bonds, Series 1991 Redevelopment Area) Completed Total (32) $400,858,300

11 STIFEL, NICOLAUS BACKGROUND INFORMATION PAGE 11 STIFEL NICOLAUS ST. LOUIS PUBLIC FINANCE SENIOR MANAGED TIF/TDD TRANSACTIONS HIRED--IN PROCESS Size of Expected Name Issue Closing Date 1. M150 & 135 TDD 9,900,000 April Quincy, Il (Prairie Crossing) 6,630,000 May St. Louis IDA (MLK Plaza) 2,775,000 May Brentwood Hanley Strassner TDD 8,000,000 June Olive Boulevard TDD 6,350,000 July Chesterfield Commons TDD 17,000,000 July Brentwood Hanley Eager TIF/TDD 11,750,000 Late Town & Country Crossing TDD 6,160,000 Fall Moscow Mills TIF/TDD 30,000,000 Fall Maplewood TDD 16,300,000 Late Maplewood TIF/TDD (South of Folk) 18,050,000 Early Jennings Northland TIF 8,550, Normandy TIF/TDD 15,000,000 Late Leawood, Kansas TDD (Park Place) 11,650, TOTAL 14 ISSUES $168,115,000