Archive for April, 2013

CMFA Financings Enable $192,500 in Contributions to California Non-Profits

Apr 29, 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 $192,500 from the California Foundations for Stronger Communities with funds donated by the CMFA.

The deserving organizations include:

Clinic by the Bay is San Francisco’s Volunteers in Medicine clinic which provides free health care for working uninsured adults residing in the Excelsior neighborhood, in Visitacion Valley, Portola, and in Daly City.

George Mark House provides cutting-edge, interdisciplinary medical and psychosocial services to children facing life-limiting illness.

Jewish Family Resource Center provides a wealth of social and emotional services including Senior Care, Mental Health Counseling, Family & Youth Services and Refugee & Immigrant Services.

Lotus Bloom Family Resource Center is a youth development program located in Oakland, CA.  Their innovative program empowers their diverse population to realize their full potential. The center provides art, music, and literacy activities which are all designed to promote language development and early learning experiences.

Mustard Seed School is a free, private school for homeless children ages 3 to 15 years old.  They provides a safe, nurturing environment, a positive learning experience, survival resources, immunization updates, counseling, and assistance entering and reentering public schools.

Alpha House provides a safe and nurturing environment for battered and homeless women and their children in Kern County, CA.

Elite Soccer is a competitive soccer league in Southern Orange County.  Our donation allows low-income youth athletes to participate in the program.

Fairytale Town – Located in Sacramento, CA, Fairytale Town is home to 3-dimensional play sets based on favorite fairytales and nursery rhymes, farm animals, and performing arts stages. Our donation will fund a Children’s Theatre Program that will bring Fairytale Town to underserved schools.

Friends of San Pasqual Academy – Located in Escondido, CA, San Pasqual Academy provides foster youth with a stable, caring home, quality education and independent living skills.

Operation Help a Hero is dedicated to the well-being and care of our American military members. Their programs support military units and families as they prepare for separation, while they endure the challenges of deployment, and as they transition back to the United States.

TELACU Educational Foundation – In addition to financial aid, the Foundation provides a support system to underprivileged students dreaming of a college degree.  

Daniel Hernandez Youth – Conducted jointly with the California Department of Fish & Game Daniel Hernandez Youth provides fishing and environmental education programs to underprivileged youth.

Lytle Creek Senior Center – Provides a comfortable atmosphere for senior citizens in San Bernardino, CA. The center plays host to craft & hobby meetings, Scrabble, cards & Bunco games, and community meetings related to senior citizens issues, senior citizens advocate, social events and serves as the area polling place.

National Veterans Transition Service assists outgoing military personnel make a successful transition from military service to civilian life.

Rainbow Family is a twelve-month residential rehabilitation program structured to provide restoration for women and children. Their 24-hour counseling and supervision creates a climate where residents can succeed.

Rob Dydrek Foundation assists municipalities and non-profits with the design, development, and construction of legal Skate Plazas as well as assists with the creation of community and educational programs that promote and encourage the sport of skateboarding.

Social Model Recovery Systems provides a comprehensive residential drug and alcohol treatment program for women with children in a safe, supportive and nurturing environment. Our donation will be used to provide a play area for the children who live and visit there.

The CMFA Closes Tax-Exempt Financing for the Tiger Woods’ Foundation

Apr 22, 2013

Tiger Woods Foundation, Inc. promotes college access for underserved youth.  One of the Foundation’s primary programs is the Tiger Woods Learning Center.  The learning center provides underserved youth in Southern California with an intensive, college preparatory education with a focus on science, engineering, technology and math.  The Tiger Woods Learning Center hands-on, interactive instruction allows students grades 5-12 to experience college-access programs and exposes their students to subjects like rocketry, aerospace engineering and marine biology to graphic design and communications.  The school’s unique approach allows their students to explore a future in almost any career and recognized the importance of attending college.

Recently, the Foundation selected the CMFA to assist in the refunding of their original tax-exempt variable rate bonds.  Proceeds of the bonds had been used to finance the school’s two-story, 35,000-square foot education facility. The Facilities include a multimedia center, an auditorium, classrooms, a computer lab and a student lounge and cafe, among other amenities.

The be.group Secures Tax-Exempt Financing Through the CMFA

Apr 9, 2013

Recently the CMFA completed a $20,000,000 tax-exempt bond financing for the be.group.  Proceeds from the low interest bonds will assist in the acquisition / rehabilitation project of the Casa de la Paloma Apartments. The be.group was founded in 1955 and has focused on creating vibrant communities for seniors.  The Casa de la Poloma Apartments is an existing nine-story 167 unit affordable senior citizen and handicapped apartment complex located in the City of Glendale.  All 167-units are 1-bedroom units and provide affordable rents to seniors 62 years of age and older and handicapped individuals.  A portion of the bond proceeds will be dedicated to the rehabilitation of the complex.  ADA upgrades, roofing, new HVAC system improvements and other energy efficiency upgrades.  With new exterior paint and waterproofing of decking, landscaping and parking improvements, senior residents will be able to enjoy affordable living for another 55 years.

The CMFA Completes Financing for Community Housing Works

Apr 9, 2013

Community Housing Works has owned and developed affordable housing in the San Diego region for over 27 years.  CHW selected the CMFA to assist them with the acquisition rehabilitation of Los Robles Apartments in the City of Vista.  The 39 year-old apartment complex will continue to serve low and very low income residents.  The apartments will receive many residential improvements including new kitchen cabinets, countertops, Energy Star appliances, bathroom appliances, interior flooring, hard-wired smoke detectors, new energy efficient windows, and a new roof.  In addition, the planned photovoltaic solar system will provide domestic hot water and help further reduce energy costs for the tenants. The property serves very low, low and moderate income residents. With this acquisition the property affordability period will be extend for another 55 years.

Eden Housing, Inc. Partners with the CMFA on Six East Bay Affordable Housing Complexes

Apr 9, 2013

Eden Housing, Inc. is recognized by Affordable Housing Finance as one of the Top 50 Affordable Housing Developers and Owners in the Nation.  Recently Eden Housing partnered with the CMFA on the acquisition / rehabilitation of six of their east bay complexes.  Six locations and a total of 278 units scattered throughout Hayward, San Leandro and Fremont will be refurbished and improved as a result of the over $40 million tax-exempt financing issued by the CMFA.  Many of the sites will receive ADA-compliant upgrades, waterproofing, energy efficient window and door replacements, carpet and new flooring and kitchen upgrades.

Burbank Housing’s Round Walk Village Secures Long Term Financing

Apr 9, 2013

Burbank Housing Development Corporation  is a nonprofit organization dedicated to increasing the supply of housing in Sonoma County. Their goal is that one day low-income people of all ages, backgrounds, and special needs will have a better opportunity to live in decent and affordable housing.  Burbank Housing recently selected the CMFA to assist them with the acquisition rehabilitation of Round Walk Village Apartments.  Located in northeast Petaluma, Round Walk Village Apartments consists of 129-unit multi-family affordable rental units.