CHICAGO -- The Indianapolis Local Public Improvement Bond Bank, the borrowing arm for the city, has a new chief.
Gregory Clark, 33, takes over after Deron Kintner left in August to become deputy mayor for economic development under Indianapolis Mayor Greg Ballard.
Kintner will remain the director of the bond bank, and Clark’s title will be deputy director and general counsel, but in practice Clark will be running the bank’s daily operations, he said.
Prior to joining the bond bank, Clark served as special counsel for the director of public safety, which oversees the city’s police and fire, homeland security, public safety communications, and animal control departments.
Clark has worked for the city since 2010. Before that he worked for the city of Jeffersonville, Ind., representing several agencies there, and worked at a small firm, Smith Carpenter Law.
Clark said he has no big changes planned for the bond bank.
“This office has been run so well under the two previous executive directors, that I don’t see my style of doing things will be that different,” Clark said. “They’ve really taken the bond bank to the next level and I hope to continue that.”
Clark said he does hope to boost the bank’s outreach to investors, in part by redesigning the web site to make it more investor-friendly.
“I would like to see the bond bank take a proactive role and be a resource for investors,” he said.
He has no immediate plans to issue new request for proposals for bond teams.
On the borrowing side, the bond bank will likely come to market several times over the next few months with refundings aimed at taking advantage of the bond market’s historically low interest rates.
The bank is eying two new-money deals next year. One includes a final financing issuance for Wishard Hospital, a $750 million two-year-old public safety hospital in downtown Indianapolis.
Another is a large downtown development project that includes the renovation of a former fire station, residential, and retail development. The city is expected to float up to $40 million for the project, Clark said. Both deals are expected to come to market during the first quarter of 2013.
