Grant Capital Management, through its Atlanta-based affiliate, First Municipal Credit, recently completed two transactions totaling over $22.6 million for the acquisition of computers and police vehicles for the city of Atlanta. The funding is designed to provide over 250 new vehicles to the Atlanta police department, including an electric pursuit vehicle. This deal was preceded by a $12.5 million funding in August for the implementation of a business license and permits and cashiering management for the city.
The August funding covered $4 million in taxable project costs and over $8 million in tax-exempt obligations. The city contracted Fast Enterprises to install GenTax software, which manages the city’s revenue sources, enforcement and receivables.
“As always, the city was highly impressed by the execution of Grant Capital Management. This transaction was complicated. Not only did we need a partner who understood the taxable and tax-exempt components, but they also needed to understand the nature of the equipment and its delivery schedule,” city treasurer Courtney Knight said. “Grant Capital worked hand-in-hand with the city and made sure that we had a smooth and on time funding. This was not the first transaction that we have partnered with them and based on their performance it will not be the last.”
“As a leader in financing essential equipment solutions within the public sector, we always welcome the opportunity to partner with clients such as the city of Atlanta. Their team is stellar in every way and we look forward to partnering again in the near future,” Derek Mitchell, senior vice president of Grant Capital, said.
