Archive for October, 2014

The CMFA Issues Tax-Exempt Bonds for John Adams Academy

Oct 27, 2014

John Adams Academy is Northern California’s only tuition-free, K-12 Classical Leadership Education charter school. Located in Roseville, CA, John Adams Academy prepares future leaders and statesmen through principle-based education centered in classics and great mentors. Scholars enjoy a classical liberal arts curriculum encompassing history, English, math, visual and performing arts, laboratory science, foreign language and college preparatory electives. John Adams Academy is fully accredited by the Schools Commission of the Western Association of Schools and Colleges.

The CMFA recently issued tax exempt bonds for the school.  The proceeds were used to acquire their campus and educational facilities located at One Sierragate Plaza in Roseville, California.

The CMFA Assists Urban Discovery School in the City of San Diego

Oct 13, 2014

Urban Discovery Academy operates a charter school serving K through 8thgrade.  Their program curriculum is grounded in the idea that children learn through real-life interactions. The School uses a project-based method of learning to educate students to become critical thinkers and problem solvers while developing the knowledge and resourcefulness essential for success in 21st-century urban America. Their program is also a multi-lingual which will provide students a deeper understanding of the world’s cultures and with greater opportunities in their life and careers.

Recently the CMFA provided tax-exempt bond financing which will allow the school to relocate to downtown’s East Village.  The new site is owned by the San Diego Community College District.  Urban Discovery School has negotiated a 99 year lease.  Proceeds of the bonds will be used to renovate and equip their new educational facility.

The CMFA Issues Tax Exempt Bonds for Whittier College

Oct 13, 2014

Whittier College is a cosmopolitan vanguard of 21st century society, recognized worldwide as a distinctive and relevant liberal arts college, offering additional graduate degrees in both education and law. More than 40 percent of Whittier College undergraduates, and three of its four Rhodes Scholars, are from underrepresented ethnic and international groups; this kind of cultural diversity, which permeates both classroom and campus community, profoundly strengthens intellectual discourse and provides a realistic exposure to the kind of world students will enter upon graduation.

Recently, the CMFA issued tax exempt bonds for the college. In addition to refunding the college’s variable rate bonds, proceeds were used to fund the construction and equipping of a new residence hall, a science and learning center, the completion of adjacent site work, building access, connections to public utilities, environmental assessment and an ADA compliant pathway in connecting the site of other areas of the campus and allowed for the completion of upgrades to the electrical distribution system.

The CMFA Partners with Ronald Reagan Charter School Alliance

Oct 13, 2014

Sycamore Academy of Science and Cultural Arts  was founded in 2009 by Ronald Reagan Charter School Alliance.  Its mission is to prepare a diverse K-6 student population for secondary education, college, careers and global citizenship. Staff provides each child with the knowledge, critical skills, and fundamental dispositions to become a self-motivated, competent, lifelong learner.

Recently the CMFA partnered with Ronald Reagan Charter School Alliance to help facilitate the acquisition, construction and equipping of a new school site benefitting Sycamore Academy of Science and Cultural Arts. The new school site will be located at 23151 Palomar Street in the City of Wildomar, CA.

The CMFA Issues Industrial Development Bond for Little Brothers Bakery

Oct 3, 2014

Little Brothers Bakery is a manufacturer of breads, dinner rolls, cinnamon rolls, croissants and other baked goods. Their bakery goods are generally sold the store’s private label bakery products and is found in most Southern California grocery store including Trader Joe’s, Ralph’s, State Bros., Smart & Final and Food for Less. In addition, The Company sells to institutional clients like school districts, prisons and other the cafeteria operations.

Recently, the CMFA partnered with a national lender to secure bond financing for this manufacturer.  Proceeds from the bonds were used for the acquisition and installation of a new automated bread and roll processing line complete with inline conveyor proofing and a 100 foot tunnel oven. The automated baking equipment will allow the company to expand their business and hire additional employees.

be.group Partners with the CMFA on Royal Vista Terrace Apartments

Oct 3, 2014

be.group is one of the country’s largest nonprofit providers of senior living communities. Founded in 1955 the organization is dedicated to making their 36 communities conducive to helping older adults continue to lead rich, purposeful lives.

be.group recently partnered with the CMFA on Royal Vista Terrace Apartments located in Duarte, California. Proceeds from the tax exempt bonds will be used to acquire and rehabilitate the 75 unit senior housing apartment complex.  Each unit will enjoy private patios and balconies. The planned rehabilitation includes modernization of elevator equipment components and cab interiors, new HVAC systems in key common areas; roofing including new membrane systems and asphalt shingles; energy efficiency upgrades, new dual glazed low-e windows, and exterior painting, waterproofing and balcony deck coating.

 

The CMFA Assists MidPen Housing Preserve Affordable Housing in the City of Campbell

Oct 3, 2014

Recently, the CMFA assisted MidPen Housing with the Sharmon Palms Lane Apartments project. It is an acquisition/ rehabilitation of a 60-unit affordable multifamily rental housing facility located in the Silicon Valley in Campbell, California. The project combines two existing properties, Sharmon Palms and The Palms both in need of rehabilitation. Out of the 60 units, 59 will be restricted to households with incomes no greater than 50-60% of the area median income. The financing of this project will result in the preservation of affordable for 59 apartments for an additional 55 years.