Archive for August, 2012

CMFA Financings Enable $175,000 in Contributions to California Nonprofits

Aug 22, 2012

The CMFA continues to give back to the communities in California by directing a portion of its issuance fees to charitable organizations. A total of thirteen non-profit 501(c)(3) organizations received a total of $175,000 in grants from the California Foundation for Stronger Communities with funds donated by the CMFA:

Proyecto Pastoral provides 24-hour residential and educational treatment center for mentally disabled children.

The Asian Youth Centeris a non-profit, community-based organization serving the social services needs of youth and families, with a focus on Asian immigrants. Their programs enable those they serve to adapt and contribute to a multi-cultural society.

Miracle League of North Orange County offers quality education-based child care to low and moderate income families in Santa Clara County.

JuneCo Music Ministryis focused on early development of children through music and creative arts, as well as developmentally disabled people of all ages. By providing opportunities for children, youth and disabled adults to associate with each other through creative arts programs they are able to gains support and confidence in themselves.

Brother Benno Foundationis a non-profit, all-volunteer organization that has been committed to serving the poor and homeless in San Diego North County since 1983. Their services are broad and include a soup kitchen, recovery and health services, rent and utility assistance, tutoring and education.

Beyond Shelter was founded in 1988.  Their mission is to develop systemic approaches to combat poverty and homelessness among families with children, and to enhance family economic security and well-being.

MARSOC Foundationserves those in the United States Marine Corps Special Operations Command (MARSOC). This elite group of our nation’s fiercest warriors are away from their families over 50% of their time either deployed or in out of area training. The grant will be used to meet needs unmet by the government with an emphasis on building personal and family resiliency and supporting the full reintegration of MARSOC Marines and Sailors following wounds, injuries and extended deployments.

Gary Sinise Foundation-Building for America’s Bravest program. This program honors those that serve our nation by building homes for Veterans, First Responders and their families.   

United Outreach of El Dorado County is dedicated to providing the help that homeless people need to survive and become a contributing members of society

Families Forward is an Irvine-based nonprofit organization.  The organization currently has twenty-eight transitional housing units as well as a comprehensive array of services to prevent homelessness. Though the years, the non-profit has served over 7,000 individuals, distributed over 33,834 bags of groceries, counseled 250 parents in career and employment development, and distributed school supplies to 1032 children.

Foster Families Service – Since 1989 the organization has placed thousands of children ages 0 -18 years of age in both foster and adoptive homesin nearly half of California’s 58 counties.  Through a combination of caring parents, well-trained and motivated social workers, and a network of community resources, works to see every child in their care return home or live in a healthier conditions then when they arrived.

Housing with a Heart – Founded by Jamboree Housing Corporation, Housing with HEART provides support services to over 5,000 low and very-low income families living in 40 affordable housing developments across California.

Queen of Heartsis dedicated to providing an avenue to improve the bodies, minds and spirits of children, youth, and adults with physical and/or developmental disabilities through therapeutic horseback riding lessons and other equine activities.

CMFA Completes Cost Effective Financing for University of San Diego

Aug 8, 2012

The CMFA recently closed the refinancing of existing bonds for the University of San Diego.  The proceeds had originally been used by the University to finance the construction of a 230,000 square foot multi-level parking structure serving the west side of the campus.  The refinancing will result in considerable interest savings for the college.

Keiro Services, Inc. Secures Cost Effective Financing Through the California Municipal Finance Authority

Aug 8, 2012

Built on the cultural value of respecting our elders, Keiro offers a continuum of living options, including residential living, assisted living, intermediate care, skilled nursing and rehabilitation care, and memory support for residents who have Alzheimer’s disease and other cognitive losses.  The low cost financing will be used to refinance existing debt and to acquire, improve and equip their skilled nursing facility.

The CMFA Provides Low-Cost Financing for Vistamar School

Aug 8, 2012

Vistamar School is a college preparatory, co-educational, independent day school that serves a diverse population of students in grades 9-12.  The Los Angeles-based private school empowers students, preparing them to contribute and excel in higher education and in life.  Recenlty, the CMFA issued tax-exempt bonds for this private school. Proceeds from the low cost debt were used to refinance the cost of acquiring, renovating and equipping the school’s educational facilities.

San Diego Natural History Museum Closes Financing with the CMFA

Aug 8, 2012

Founded in 1874, the San Diego Society of Natural History is the oldest scientific institution in southern California, and the third oldest west of the Mississippi.  The CMFA recently closed a tax-exempt financing in excess of $12.0MM for the organization.  Proceeds of the bonds were used to refinance existing debt associated with the acquisition, and construction made to their historic, LEED-Certified building in Balboa Park, and improvements like their state of the art multi-media 3-D theatre.

St. Andrews School Secures Low-Cost Financing Through the CMFA

Aug 8, 2012

The CMFA recently closed a $10.8MM financing for St. Andrews School.  Founded in 1961, Saint Andrew’s Episcopal School is a coeducational, Pre-K through 8th Grade school. Proceeds of the tax-exempt financing were used to refinance debt that was originally used for to acquire, improve and equip their campus in Saratoga, California.  The low cost financing will result in considerable interest savings for the school.

Children’s Day School Secures Low-Cost Financing Through the CMFA

Aug 8, 2012

Children’s Day School, Inc.’s is an independent, co-educational day school offering a quality education for children aged pre-K to 8th grade.  Located in San Francisco, CA the school recently turned to the CMFA to assist them with the financing of their existing school site.  Proceeds will also be used to acquire a nearby site.  The new site will allow the school to expand their outdoor learning curriculum as well as remove and replace temporary classrooms used for their Pre-K students.

EAH Housing Partners with the CMFA on Shelter Hill Apartments

Aug 8, 2012

EAH Housing, Inc. is one of the oldest and most respected developers/managers of affordable housing in the Western U.S.  CMFA recentlyissued over $18.0 million in tax-exempt debt for the non-profit developer.  Proceeds of the low cost financing will be used to acquire and rehabilitate Shelter Hill Apartments in Mill Valley.  The 77 unit apartment building was originally constructed in 1975.  Residents will enjoyan extensive upgrade on the Shelter Hill development. Improvements include exterior re-siding and repainting, resurfacing of driveways and parking lot areas, new roofs, interior painting of all units and replacing counters, cabinets and appliances in kitchens, repairs to bathrooms, enhanced internet and cable, and seismic strengthening for all buildings throughout the development. The renovation will result in reduced energy costs with the installation of new efficient windows in all units.  In addition, EAH will be adding solar photovoltaic panels that will supply a portion of the development’s common area power needs.

The CMFA Provides Low-Cost Financing to the Los Angeles Orthopaedic Hospital and the Los Angeles Orthopaedic Hospital Foundation

Aug 8, 2012

The mission of the Orthopaedic Hospital is to provide outstanding care for patients with musculoskeletal disorders, and, through the support of Los Angeles Orthopaedic Hospital Foundation to provide care for children regardless of ability to pay and to advance care worldwide for all musculoskeletal patients through scientific research and medical education. The CMFA recently assisted in the $42.0 million refinancing for these two non-profit entities.  Proceeds from the bonds will be used to refinance the debt associated with the acquisition, construction, improvement and equipping of their world-class research facility and outpatient health services center.

North County Solutions for Change & Chelsea Investments Partners with the CMFA for their Vista Terrace Project

Aug 8, 2012

North County Solutions for Change was founded in 1999.  The Vista, CA- based non-profit is working to aid family homelessness.  Developer, Chelsea Investments is consulting and lending their resources and considerable expertise to assist in the acquisition rehabilitation of Vista Terrace Apartments.  The project when completed will be targeted to serve and house 47 homeless and disabled families. Residents of the Vista Terrace Apartments will enjoy both new kitchens, bathrooms, flooring and fresh paint.  The exterior will also be updated and include a new roof.  Residents will enjoy the site’s close proximity to public transportation and local stores.