Archive for July, 2015

The CMFA issues $18,475,000 to the University of La Verne, La Verne, California

Jul 31, 2015

The proceeds of the 2015 bonds will be used to refund the California Educational Facilities Authority Revenue Bonds (University of La Verne) Series 2005A, issued to finance or refinance the 2005 Project. The 2005 Project included the construction of a chilled water loop system, campus-wide renovation, reimbursement of the University of funds previously expended to refurbish property purchased adjacent to the University’s main campus, the refinancing of a short term note, the renovation of the University’s sports science and athletic pavilion, the renovation and expansion of Hanawalt House, the conversion of the University’s turf football field into artificial surface field; the refinancing of all outstanding California Educational Facilities Authority Revenue Bonds (University of La Verne) Series 1993; and the refinancing of all the University’s outstanding portion of the California Educational Facilities Authority Revenue Bonds (Pooled College and University Projects) 2000 Series B.

The CMFA issues $9,000,000 in Bonds to Affirmed Housing Group for the Eastgate at Creekside Apartments located in San Marcos, California

Jul 31, 2015

The Affirmed Housing Group is a southern-California based Affordable Housing Developer specializing in tax-credit and tax-exempt bond financed multi-family and single family developments. The Eastgate at Creekside Apartments is a new construction, mixed-use development project. The project will be comprised of 41 affordable apartment units and 10,640 square feet of commercial space. There will be a mixture of one-, two- and three-bedroom units. The project will be located on a 2.85-acre lot located at 100 Creekside Drive in the City of San Marcos, California. All apartment units will be restricted to residents with household incomes no greater than 60% of the Area Median Income. The financing of this project will result in the creation of 41 affordable apartments for the next 55 years in the City of San Marcos.

CMFA issues $15,371,923 in Bonds to C&C Development for the Lemon Grove Apartments located in the City of Orange, California

Jul 30, 2015

The Lemon Grove Apartment Project is a new construction multifamily affordable housing project. The proposed project involves the construction of an 82-unit apartment building located Orange, California. The unit mix will consist of 24 two-bedroom and 58 three-bedroom units. The apartments will consist of four garden style walk up buildings. Architecturally, the buildings will be designed to complement and enhance the neighborhood. The project will be 100% affordable consisting families who earn at or below 60% of the area median income. The construction of this project will provide affordable housing for 81 families for 55 years.

CMFA issues $11,080,000 in Bonds for Omni Family Health facilities located within Kern County, California

Jul 28, 2015

Omni Family Health (“OFM”) is a network of state of the art health centers located throughout Kern County. Since 1978, Omni Family Health has provided quality healthcare services in the communities of Buttonwillow, Lost Hills, Wasco, Taft, Delano, Shafter, Ridgecrest, Tehachapi and Bakersfield. Omni Family Health operates in sixteen medical sites, ten dental sites, five behavioral health sites and three full pharmacies.

Proceeds will be used to refund the outstanding California Statewide Communities Development Authority Insured Revenue Bonds (National Health Services, Inc.), Series 2007, issued to make a loan to OFH to finance the costs of acquisition, construction, improvement, renovation and equipping certain improvements at OFH’s medical and health facilities located in Shafter and Ridgecrest, California and to prepay a bank loan from Wells Fargo Bank, N.A. to OFM to finance the costs of acquisition, construction, improvement, renovation and equipping certain improvements at OFH’s medical and health facilities located in Bakersfield, California.

CMFA issues $91,750,000 in Bonds for the University of San Diego, San Diego, California

Jul 25, 2015

The University of San Diego (the “University” or “USD”) is a co-educational, residential, comprehensive Roman Catholic university chartered in 1949. The University’s 180-acre campus is located in Linda Vista overlooking Mission Bay on the Pacific Ocean, ten minutes from downtown San Diego. The Bonds will be used to refinance the acquisition and improvements to the education facilities located on the University’s campus.

CMFA refinances $29,845,000 in Tax-Exempt Bonds to the Del Harbor Foundation located in Torrance, California

Jul 23, 2015

Harbor Regional Center (“HRC”) is one of 21 regional centers in California. Regional Centers are nonprofit Private Corporations that contract with the California Department of Developmental Services to provide or coordinate services and supports of individuals with developmental disabilities. They provide a local resource to help find and access the many services available to developmentally disabled individuals and their families. The proceeds will be used to make a loan to the Del Harbor Foundation pursuant to a Loan Agreement to refund on an advance basis the California Municipal Finance Authority Revenue Bonds (Harbor Regional Center Project), Series 2009.

CMFA issues $76,830,000 in Tax-Exempt Bonds to the California Baptist University in Riverside, California

Jul 23, 2015

California Baptist University (“CBU”) is one of the top private Christian colleges and universities in Southern California. CBU offers bachelor’s, master’s and credential programs in the in the Cities of Riverside and San Bernardino and online. The proceeds of the Bonds will be used for the acquisition, construction, improvements and equipping of an event center to be located on the main campus of the University in Riverside, California; the construction, renovation and improvement of other facilities currently located on the campus, including housing facilities, the James Building, the Yeager Center, parking lots, science labs, offices, and food service venues; the construction of infrastructure and utility improvements on the campus; and establishing a debt service reserve fund for the Bonds.

CMFA issues $92,865,000 in Tax-Exempt Bonds for the Anaheim Public Utilities Project in Anaheim, California

Jul 21, 2015

The Bonds are being issued for the purpose of refunding all the outstanding Anaheim Public Financing Authority Distribution System Revenue Bonds, Series 1999 (City of Anaheim Electric System Distribution Facilities), the outstanding Anaheim Public Financing Authority Revenue Bonds, Series 2007-A (City of Anaheim Electric System Distribution Facilities), financing the acquisition of certain improvements to the Electric System of the City of Anaheim, and to fund a Debt Service Reserve Fund for the Bonds.

The City of Anaheim will use approximately $35,000,000 of the net proceeds of the Bonds to finance costs of various components of the City’s Distribution System capital improvement program over the Fiscal Years ended June 30, 2016 and 2017.

The CMFA issues $27,000,000 in Tax-Exempt Bonds for the Vintage Aliso Apartments located in Aliso Viejo, California

Jul 17, 2015

USA Properties Funds, Inc. has completed the issuance of $27,000,000 in tax-exempt bonds for the construction of a 202-unit affordable multi-family housing facility located in Aliso Viejo, California. The Vintage Aliso Apartments will have one- and two-bedroom units of various sizes. The Project will also include a pool, spa, shade structure, laundry facility, computer center and a tenant community center.

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