Our Approach
Over 30 years, KMA has learned above all to be prudent in our approach. We know that we are under public scrutiny. So, a lot of what we do becomes risk management for our clients – whether the municipality is trying to establish a TIF District, set up a Business District, or issue a municipal bond that can be sold into the market, we carefully document every fact and manage every step along the way.
Executive Vice President
In an environment of intense competition, what makes KMA different? We offer a unique approach to consulting engagements based on our combination of expertise in local economic development strategy and public finance experience. As an example, KMA can rely on its familiarity with bond financing underwriting requirements to quickly determine viable economic development financing strategies that can work for our local clients. While there are firms that may have familiarity with either local economic development or may have experience in bond finance, very few firms in the Midwest combine knowledge in these 2 disciplines.
We match our subject matter expertise with an organizational culture that support 3 values : Integrity, Intellectual Rigor, and Precision
Integrity
Our firm is committed to objective analysis, free from any direct or indirect conflicts of interest. When we are retained by a client, we serve only that client. Moreover, our compensation is structured so that our interests stay aligned with yours. For example, our firm is compensated so that we do not favor a pre-determined financing vehicle or seek to inflate the sizing of a bond issue that could jeopardize our client's long-term financial position. Instead, we stay objective, delivering only recommendations that protect our client's long-term interests. By law, Kane, McKenna Capital Inc. acts as a fiduciary; as such, it must advance the interests of its municipal clients.
Kane, McKenna Capital, Inc. is a member of the National Association of Independent Public Finance Advisors, and abides by its standards of conduct and ethics.
Intellectual Rigor
Although “intellectual rigor” is often applied to universities, KMA also endeavors to be a laboratory for sharing and promoting state-of-the-art practices in municipal finance. We share and critique ideas among our colleagues, attend and speak at industry conferences, and confer with our many private and public sector clients – many of whom are leading governments and developers in their own right. Moreover, KMA staff closely scrutinize our work products, consistently exercise due diligence, and challenge each other on the written reports and work products we deliver for our clients.
We are committed to delivering the best solution to satisfy the specific needs of our clients. The best solution does not always come from a cursory review of the obvious, nor is it necessarily the easiest to implement. Instead, we go beyond standard solutions to determine the best answer for our client. We take into account changing institutional arrangements, evolving best practices, shifts in the legal and regulatory environment and market conditions. We take on each client’s situation with an open mind – without preconceived notions or cookie cutter solutions.
Precision
Details are critical to a successful financing. For example, clearly defined "public purposes" for tax-exempt bonds are vital to ensure that a municipality qualifies for the best possible interest rate on debt. Similarly, through constant monitoring of state and federal legislation, KMA keeps our clients in compliance with the ever-growing regulatory burdens associated with development and TIF financing. We give careful attention to every aspect of our work to assure that nothing is overlooked - whether it is preparation of key economic development planning documents, quantitative analysis of your financing options, due diligence on developer proposals, or examining underlying assumptions that drive a project.
Successful financing of redevelopment projects requires detailed communication with all stakeholders. We provide continual guidance in working with all the players on a given project – including elected officials, municipal staff, developers, oversight boards, credit rating agencies, credit enhancement entities, attorneys and underwriters. Because we know the players – and they know us – we can expedite project financing, increasing the likelihood it will stay on track and on time.