$120M in Bonds Sold Based on GAI Tax Estimates

National Consultant Estimates Future Sales Tax Revenue for Pinnacle Shopping Center

Orlando, FL—The Industrial Development Board of the City of Bristol, Tennessee retained GAI Consultants’ (GAI) Community Solutions Group (CSG) to conduct estimates of potential sales tax revenue generated by the Pinnacle Shopping Center project. In late 2016, the firm’s revenue estimates resulted in the sale of bonds valued at $120,600,400.

Highlights/Key Facts

  • The Pinnacle project is the latest in a long line of similar assignments that GAI Consultants’ professionals have conducted since 2000, resulting in over $1 Billion in bond sales to date.
  • The Pinnacle Shopping Center is a 250 acre multi-use retail and entertainment center located in Bristol, Tennessee.
  • David Darsey, Senior Director of Economic and Real Estate Advisory Services, served as GAI’s Project Manager on the Pinnacle Shopping Center project.
  • Learn more about CSG’s services.

“GAI’s estimates of taxable sales and applicable sales tax revenue generated by the project are an integral part of bond analysis. Not only are GAI’s estimates used by the underwriter to determine the size of the ultimate bond issue, they give prospective bond buyers confidence that a qualified third-party has analyzed the project and provided estimates independent of the developer. Over the years, the financing community has relied significantly on GAI’s documents due to our consistent track record of providing estimates that are very close to actual results.”

David Darsey, Senior Director, Economic and Real Estate Advisory Services, GAI Consultants

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Brittney LeTourneau
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Leah Tuscan
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