Team

Mr. Morgan has a background in finance and investment analysis.  Since joining DTA in 1997, Mr. Morgan has been involved in all aspects of the formation and implementation of special districts to fund infrastructure and services, as well as the sale of over $600 million in refunding and parity Community Facilities District (CFD) bonds, including those involving multiple landowners, improvement areas, Marks-Roos bond pools, capital appreciation bond structures, variable rate bond structures, and subordinate bond tranches.  This work has involved the development of tax spread proforma analyses, as well as the preparation of public reports, overlapping debt analyses, escrow release provisions, private placement requirements, and letter of credit determinations.  Mr. Morgan has honed and developed his extensive CFD financing skills to become among the industry leaders in the restructuring and refunding of defaulted Mello-Roos CFD bonds affecting distressed properties throughout California.

In addition to his work on CFD financings, Mr. Morgan has prepared development impact fee justification studies, fiscal impact reports, public facilities financing plans, water/sewer revenue bond analyses, and redevelopment tax increment analyses for a variety of residential, commercial, and mixed-use developments throughout California.  Mr. Morgan’s responsibilities in relation to these various reports include considerable work related to the preparation of comprehensive facilities lists needed to serve future development, the allocation of such facilities costs to various land use groups, the analysis of annual recurring fiscal impacts of future development on local agencies, the review of redevelopment pass-through agreements to confirm the generation and allocation of tax increment revenues attributable to qualifying projects, and the negotiation and implementation of development agreements and ownership participation agreements to enhance a project’s economic viability.  Mr. Morgan applies his experience and knowledge to help his clients quantify the impacts that new development will have on public agencies, then, identify and implement funding sources to mitigate any impact.

Mr. Morgan further established his role in the company by developing a user-friendly fiscal impact report model, creating a more efficient template that is used as a standard for each analysis prepared today.  Financial models are constructed during the early stages of a project’s development and are structured to be consistent with a public agency’s approved development policies.  These models can then be utilized by both developers and public agencies throughout the project development to ensure that a fiscal balance is maintained at project build-out.

Prior to joining DTA, Mr. Morgan was an investment intern with Smith Barney Inc. in Boston, where he performed fundamental equity analysis.  Mr. Morgan holds a B.S. in finance from Boston College.

Mr. Morgan has attained his Series 50 licensing as a registered Municipal Advisor with the Securities and Exchange Commission and the Municipal Securities Rulemaking Board.