Archive for September, 2012

The CMFA Issues Low-cost Bonds for Rocketship Education

Sep 26, 2012

Rocketship Education was founded in 2006 with aspirations to become a national network to eliminate the achievement gap in low-income neighborhoods. Recently the non-profit approached the CMFA on their Rocketship Alma Academy site located in San Jose, California.  Low-cost tax-exempt bonds were used to refinance loans that were used to construct, and equip the science, mathematics, performing arts, general classrooms, a library, athletic and administrative facilities.

Christian Church Homes Partners with the CMFA on San Leandro Affordable Senior Apartment Complex

Sep 26, 2012

Fargo Senior Center is a 75 apartment senior community in San Leandro, California. Built in 1973, the 2 story low-rise buildings  provides affordable living for low-income seniors age 62 and over. Christian Church Homes recently partnered with the California Municipal Finance Authority on the acquisition and rehabilitation of this site.  Residents will be able to enjoyed refurbished interiors and exteriors.  In addition, the energy efficient improvements will help lower the residents overall energy costs.

The CMFA Issues Tax-Exempt Debt Benefits Two Apple Valley Charter Schools

Sep 26, 2012

The CMFA recently issued tax-exempt bonds for The High Desert “Partnership in Academic Excellence” Foundation, Inc. and the Lewis Center for Educational Research.  The Lewis Center operates two successful charter schools in San Bernardino County.   Both schools have a science and math focus.  The schools’ ongoing partnerships with NASA, the Goldstone Apple Valley Radio Telescope Project and the Jet Propulsion Laboratory have their students fully engaged.  Students work with other students, educators and scientists around the world and actually take control of the massive radio telescope via the Internet to study a variety of radio sources in space, including the planet Jupiter.  Proceeds from the low-cost funds will be used to construct a multi-purpose gymnasium and refinance existing long term debt.

The CMFA Completes Financing for Vintage Wine Estates

Sep 17, 2012

Vintage Wine Estates recently purchased the formerWeibel Winery Production Facility in Hopland facility and 24 acres of vineyards with tax-exempt financing issued by the CMFA. “The winery will allow Vintage Wine Estates to continue their expansion plans.  Proceeds will be used to refurbish and modernize the winery by adding a state of the art bottling line and adding fermentation capacity geared toward smaller lot wine making.

St. Anton Partners Selects the CMFA to Finance Affordable Housing Project in Napa, CA

Sep 17, 2012

Alexander Crossings is a proposed 134-unit new construction project by developer, St. Anton Partners.  The new project is located on 6.4 acres in Napa County. The project when completed will enable families will be able to enjoy high quality affordable housing in the City of Napa. Amenities at the complex will include gated access, recreational areas, community room, computer labs, a swimming pool, barbecues, tot-lot, and covered parking. There will also be after school programs, financial management and homework clubs provided at no charge.  St. Anton Partners is one of the most active affordable housing developers in the Country and is known for their quality projects.  Recently, St. Anton Partners selected the CMFA as issuer for their latest project in the City of Napa.

College Preparatory School Selects the CMFA as Issuer

Sep 17, 2012

The Buckley School is an independent co-educational institution founded in 1933.  The school is a college preparatory day school, combines the principles of whole-child education – a deeply inter-connected program of academics, arts, physical development and moral education – with a more traditional framework.  The school recently selected the CMFA when it came time to refinance their existing debt.  Proceeds from the low-cost financing were to acquire, construct, renovate and improve its educational campus in Los Angeles.

The CMFA Partners with Rural Communities Housing Development Corporation in Lakeport, CA

Sep 17, 2012

Sunshine Manor Apartments is a 30 unit affordable family development owned and managed by Rural Communities Housing Development Corporation.  RCHDC selected the CMFA as issuer for a recent low-cost tax exempt bond financing.  The financing will ensure that low-income residents in the rural community of Lakeport, CA long term will have quality affordable housing for 55 years. 

The CMFA’s Bond Issuance Preserves Affordable Housing in Ukiah, CA

Sep 17, 2012

Founded in 1975, Rural Communities Housing Development Corporation (RCHDC) is a non-profit that develops and manages affordable housing forlow-income families, and seniors.  Recently, RCHDC tapped the California Municipal Finance Authority to issue tax-exempt bonds for Creekside Village Apartments.  The Ukiah location consists of a 44 unit affordable family development currently owned and managed by RCHDC. The bonds will refinance existing HUD loans and provide for some rehabilitation of the project.  The refinancing will enable RCHDC to preserve and create additional affordable housing in Ukiah, California.

The CFSC Provides Grant to Boys & Girls Clubs of Anaheim

Sep 17, 2012

Established in 1989, the Boys & Girls Clubs of Anaheim provides a meeting place and youth programs specifically designed to help thousands of children obtain a sense of belonging, take control of their lives, and work towards achieving their goals. The Boys & Girls Clubs of Anaheim is open seven days per week and offers a broad range of programs and services for children ages 5-18. Most importantly, the Club offers a “safe haven” for kids, off of the streets, where they can interact with peers and positive mentors.  Recently, the board of the California Foundation for Stronger Communities provided a $20,000 grant to assist this worthy non-profit.

Mercy Housing Partners with the CMFA on Mercy Auburn Senior Apartments

Sep 17, 2012

The CMFA recently completed the financing for Mercy Housing’s latest project.  Mercy Housing California will soon open an affordable housing community for seniors in Auburn, California.  The new facility is located on the Sisters of Mercy property and is scheduled for opening in the Fall 2012. The community will provide stable housing to seniors aged 62 and older who are on fixed income and could otherwise be homeless. Mercy Housing plans to partner with Placer County health and wellness programs, which will provide life-enrichment services for residents and will include social, recreational, health and educational services on site.  Residents will also enjoy the outdoor common areas including a large grassy area, a playground for visiting children and a sports court.  The facility will also have a community room, and library / computer lab for the residents to enjoy.

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