Archive for March, 2013

Nationally Recognized San Ysidro Health Center Selects the CMFA as Issuer

Mar 26, 2013

For 40 years, San Ysidro Health Center has been the leader in the provision of low-cost, high quality, comprehensive primary care services to the culturally diverse residents of San Diego County’s South Bay Region.  Medical experts consider San Ysidro Health Center a national leader in preventative health care.  Recently San Ysidro Health Center turned to the CMFA when it came time to finance their many facilities with long term, low cost tax-exempt financing.  Proceeds were used to acquire and rehabilitate several sites used in the delivery and administration of their high quality comprehensive care, renovate and improve their adult day care facility and improve parking.

EAH Housing Partners with the CMFA on Kings Valley Senior Apartments

Mar 26, 2013

Established in 1968, EAH Housing is one of the largest and most respected nonprofit housing development and management organizations in the western United States. Award-winning EAH develops low-income housing, manages over one hundred properties in California and Hawaii.  

Recently, EAH selected the CMFA to finance the Kings Valley Senior Apartments located in Cloverdale, CA.  Constructed in the mid-1970’s, Kings Valley is a 99 unit Senior Apartment complex.  The complex consists of 4 buildings and community center all situated on over 10 acres. All of the buildings will receive needed exterior and interior repairs and upgrades.  Planned improvements include new roofs, windows, sliding glass doors, lighting and replacement of the HVAC systems.  In addition, there will be ADA upgrades to parking and some of the units.

New Roads School Closes Second Transaction with the CMFA

Mar 18, 2013

Santa Monica-based, New Roads School recently closed a partial refunding of bonds with the CMFA.  The refunding broadens the school’s financing options for further campus expansion.  New Roads School is a college preparatory school founded in 1995.  The school is home to over 600 middle school and high school students in the West Los Angeles area.  At New Roads School, education is viewed not as a race for the accumulation of facts, but as an opportunity for students to develop habits of mind and character, to nurture an ever expanding awareness of the human situation, and to acquire the tools needed for effective personal and moral participation.

Bridge Housing & the CMFA Bring Innovative Project to West Sacramento

Mar 11, 2013

Award-winning, Bridge Housing Corporation is one of the country’s premier developers of affordable housing and master planned developments.  Recently Bridge Housing selected the CMFA as their issuer on a new development in West Sacramento.  The project known as Bridge Triangle Family Apartments will serve 70 families with low and very low income.

The City of West Sacramento has been very supportive of the project.  City officials expressed their excitement for the project and anticipate that the innovative design and green features will set the standard for future building in the West Sacramento Triangle Development. The development district is bounded by the Capital City freeway, the Sacramento River and Raley Field, a Triple-A ballpark that is home to the West Sacramento River Cats.

CMFA Financings Enable $20,000 in Contributions to California Non-Profits

Mar 11, 2013

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 $20,000 from the California Foundations for Stronger Communities with funds donated by the CMFA.

 The deserving organizations include:

Asian Pacific Islander Small Business Program assists the development of small and micro businesses in Los Angeles. The non-profit primarily works with low-income immigrants from the Chinese, Korean, Japanese, Thai and Filipino business community.  The program is designed to overcome barriers to growth, .help these budding entrepreneurs build a sustainable business model and create jobs.

Herald Christian Health Center is a non-profit licensed community clinic with a mission to provide quality, affordable, culturally and linguistic appropriate and holistic health care services to the low income, uninsured and underserved people residing in the San Gabriel Valley.

The Khmer Arts Academy features a professional touring ensemble, a research and archiving program and a media program, in addition to the community-based academy where young students can receive free workshops in Cambodian classical dance.

The Korean Resource Center was founded in 1983 to empower Korean American community, low-income immigrant and people of color communities through a holistic model that combines education, social services, and culture with effective community advocacy and organizing. KRC is guided by the principles Live Rightly, Know our Roots, Empower Ourselves, and Live in Harmony.

Marina Village Middle School Jazz Band – The jazz band at Marina Village Middle School is a group of 25-30 talented seventh and eighth grade students who have committed their extra time beyond the school day to further their music ambitions.  The donation will be used to acquire instruments, music supplies, and offset costs related to performing at events and/or competitions.

The United Cambodian Community is a multicultural social services agency, serving the greater Long Beach community. The organization assists the refugee and immigrant population in making adjustments and to help bridge the gap between cultures, languages and generations.