Even tight budgets can install topnotch turf
By Diane M. Calabrese
It takes effort to make a field of dreams a reality. Communities, colleges, and school districts operate within tight budgets, and deciding on a playing surface is part of the equation. Paying for the purchase is another.
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David J. Clamage, President of Saulsbury Hill Financial, LLC, Denver, Colorado, a 30-year-old municipal leasing company, oversees a financing program for buyers of products from FieldTurf Tarkett.
“In our mind, financing is a tool that is used to acquire most every kind of product in America,” says Clamage. “FieldTurf financing is designed to help customers get FieldTurf installed faster without the outlay of cash vital to the organization.”
The financing service is provided at no cost to the prospective buyer. “There’s no obligation,” says Clamage. “We put together some financial options to give the customer alternative methods of acquisition.”
Schools are Saulsbury’s predominate customer for financing, says Clamage. For instance, he recently facilitated a deal that enabled St. John the Baptist Diocesan High School on Long Island in New York to install a new athletic field surface.
Emphasizing Uniqueness
“We’re a firm believer in one size doesn’t fit all,” says Clamage. “Each customer is a little different from both legal and financial perspectives.”
Clamage puts 30 years of experience to work in fully understanding a for-profit or not-for-profit entity. A recommendation about how to finance depends on the whole picture. “It’s really driven by the customer and what their needs are,” he explains. “Consultation is where it all begins.” And sometimes it ends there. “We do all the analysis at no cost,” he reiterates.
In a few instances, a consultation about financing, which includes independent analysis of cash flow and tax status, helps a customer decide if the use of cash for the acquisition is most prudent, as happened with the San Diego Unified School District in California.
Endless Possibilities
A private, for-profit sports facility can often borrow from a commercial lender familiar with this type of project financing, such as Saulsbury Hill Financial, LLC. Financing methods for public or educational entities are typically either a portion of a bond issue or a municipal lease option. Unlike bond issues, the municipal lease does not require the vote of the constituents and is much more efficient and fast.
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Clamage and his firm structure many municipal leases. The advantages of such leases begin with flexibility. “The customer can terminate the lease without penalty if the funds for the annual payments are not in the fiscal budget,” he says. “That’s why we look closely at each proposed project.”
Tax-exempt municipal lease financing can work well for any municipal entity, including cities, counties, parks, and recreation districts and school districts. Tax-exempt interest rates, under certain circumstances, can be made available to nonprofit educational facilities also.
To find out how you can lease to own your field of dreams, call Dennis Haynes of Saulsbury Hill Financial at (303) 629-8777, ext. 111, or David J. Clamage at ext. 102.
