Archive for December, 2012

Park Century School Secures Cost-Effective Finance through the CMFA

Dec 20, 2012

Founded in 1968, the Park Century School strives to meet the needs of children with learning disabilities. Their students typically possess average to superior intellectual potential, but are experiencing a difficulty in learning.  The majority of their students are identified between the age of 7 -14 and are able to matriculate into mainstream schools after spending time at Park Century School.  Located in Culver City, California, Park Century serves the South Bay to the San Fernando Valley and throughout the greater Los Angeles area. 

The CMFA recently completed a $13,000,000 refinancing of existing debt.  The refunding will help to continue the school’s superior educational program and reduce the fiscal burden from the debt that they are carrying with lower rates and better loan terms.

CMFA Financings Enable $197,500 in Contributions to California Non-Profits

Dec 20, 2012

The CMFA continues to give back to the communities in California by directing a portion of its issuance fees to charitable organizations. There were several non-profit 501(c)(3) organizations that received grants an aggregate total of $197,500 from the California Foundations for Stronger Communities with funds donated by the CMFA.

The deserving organizations include:

Adonai provides temporary help to Southern Californian families whose children are facing cancer or other life threatening diseases.

Cal Independent Scholars Network Program is dedicated to supporting undergraduate students at the University of California, Berkeley, who are former foster youth, orphaned or otherwise certified independent students to help them realize their dream of graduating from the university.

Center for Community Solutions operates two emergency shelters and a transitional housing program.  Their programs work to end relationship and sexual violence in the San Diego region.

Community Foundation of Mendocino County– Our donation will be used to support the Plowshares Garden in Ukiah, CA. Each year, this community garden produces over a ton of fresh produce and provides over 60,000 healthy meals for those in need.

 Cristo Rey High School is a college preparatory school in Sacramento, CA.  The private school  educates motivated students with limited financial means. All students participate in a unique Work-Study program learning professional work skills and generating income to offset the cost of their education. Our grant will be used to assist in the purchase of textbooks.

Earned Assets Resource Network (EARN) is a nonprofit that gives low-income working families the power to create prosperity for generations.  The organization helps low income family learn money management.  Through their unique savings matching program participants are able to purchase their first homes or send their children to college.

Eggelston Youth Center is a licensed, non-profit, social service agency serving abused, neglected, abandoned and delinquent youth in the Greater Los Angeles Region.  Through their eight locations throughout Los Angeles County, Eggleston helps over 1,000 children each year.

Guardian Scholars provides support to UCLA students who are current or former foster youth.  Their program works to support student’s academic achievement and personal development and promotes the realization of student’s educational and career goals.

Injured Marine Semper Fi Fund provides severely injured service members and their families with immediate financial assistance and quality of life solutions.  The organization’s goal help every injured service member attain the best possible quality of life while ensuring their family is not financially burdened by inevitable costs associated with recovery.

Los Angeles County High School for the Arts Foundation – offers a specialized program combining college-preparatory academic instruction and conservatory-style training in the visual and performing arts.

Lytle Creek Community Center works through the City of San Bernardino to provide outreach and services to seniors.  Funds will be used to support their Meals on Wheels program and ongoing operations.

Oscar De La Hoya Animo Charter High School works to transform public education in Los Angeles and beyond, so that all children receive the education they need to be successful in high school, college, leadership and life.

Orange Housing Development Corp.  is a non-profit organization dedicated to providing secure, clean and attractive housing for people of low and moderate incomes.

Police Activity League is a community-based crime prevention program designed to provide young people with positive alternatives to gangs and drugs. Through interaction with police officers in recreational, educational, athletic and fine arts activities, young people are given the opportunity to form healthy, positive attitudes toward the police, the society and the laws they represent.

Soar for Youth was established in 2009 and helps foster youth move through adolescence and into their adult lives with confidence and independence.

Surfers Healing provides one day surfing camp for autistic children and their families.

Veterans First works to provide services exclusively to Orange County’s homeless and at-risk veterans. Their organization provides a multitude of services including housing, meals, case management, life skills, mental health counseling, benefit counseling, transportation, as well as job training and employment placement assistance.

YMCA of San Francisco Selects the CMFA as Issuer

Dec 20, 2012

For more than 150 years, the YMCA of San Francisco has provided comprehensive programs and services to meet the diverse needs of the Bay Area. The YMCA of San Francisco builds strong kids, strong families and strong communities by enriching the lives of all people in spirit, mind and body.  Through its 14 branches from Marin County to the Santa Cruz Mountains, YMCA programs span the generations to address compelling wellness and social needs in their communities.

Recently, the Y MCA of San Francisco selected the CMFA as its issuer of tax exempt bonds.  Proceeds were used to refinance existing debt that was used to acquire, construct and equip several of their facilities.  The refinancing allows the organization to stabilize their interest costs and take advantage of the current low interest rates.

The CMFA & PEP Housing Partner to Bring Senior Affordable Housing to Petaluma, CA

Dec 20, 2012

Petaluma Ecumenical Properties (PEP Housing) is a community-based, non-profit corporation. PEP Housing is dedicated to providing low-income seniors with quality affordable housing, housing support services, and advocacy.  Recently non-profit selected the CMFA as their Issuer of low cost, tax-exempt bonds.  Proceeds of the bonds will be used to finance the construction of an independent senior living complex.  The proposed project will consist of 49 one-bedroom apartments and will be offered to seniors having less than 50% of AMI.

Charter School Takes Advantage of Low Cost Financing

Dec 20, 2012

Partnerships to Uplift Communities is a non-profit charter school management organization designed to significantly increase college entrance and graduation rates for underserved students in Los Angeles and the San Fernando Valley.   The non-profit organization operates a growing network of 13 small, public charter schools in Southern California. 

Recently, they asked the CMFA to assist them in the acquisition of land and facilities currently being leased. The campuses of Community Charter Middle School, Community Charter Early High School and Lakeview Charter Academy both share this location.  Also included in the $26,500,000 total financing was the refinancing of two loans which were used to purchase their California Academy of Liberal Studies Middle School site located near downtown Los Angeles. The California Academy of Liberal Studies Early College High School will be relocating to this shared campus beginning in the 2012-2013 School Year. 

The CMFA Completes Refunding for St. Michael’s Episcopal Day School

Dec 3, 2012

Located in Carmichael, CA, St. Michael’s Episcopal Day School is a co-educational, independent day school for Preschool through 8thgrade dedicated to creating a learning environment where students are encouraged to seek scholastic, artistic and physical achievement through curricular and co-curricular activities that are both traditional and integrated.  The school recently selected the CMFA to complete the refunding of their 2007 bonds.  Proceeds from these bonds were originally used to purchase, construct and equip the educational and athletic facilities used by the St. Michael’s Episcopal Day School.