Archive for August, 2015

The CMFA issues $73,150,000 to the California Housing Foundation for the Inland Regional Center (“IRC”) in San Bernardino, California

Aug 27, 2015

Since 1971, the Inland Regional Center (“IRC”) has contracted with the State of California to provide services for the developmentally disabled and their families. IRC is among the largest regional centers and in fiscal year 2013-14 IRC coordinated the delivery of services to 30,631 consumers within a service area of nearly 28,000 square miles that comprise all of San Bernardino and Riverside counties. The proceeds of the Bonds will be used to refund, on an advance basis, the California Statewide Communities Development Authority $77,530,000 Revenue Bonds (Inland Regional Center Project), Series 2007 which were used to finance the acquisition, construction and equipping of a 200,000 rentable square feet office facility (the “Facilities”) for lease to IRC located in San Bernardino, California.

The CMFA issues $45,000,000 in Bonds to RPM Company for The Crossing at Montague Apartments located in Milpitas, California

Aug 26, 2015

The Crossing at Montague Apartments is a refinancing of a multifamily project located in Milpitas, California. Construction of the initial project was completed in 2002. The Project consists of 468 units in 16 buildings. The refinancing of this project will continue to provide affordable housing for 94 low-income households in the City of Milpitas for the next 40 years.

The CMFA issues $15,185,948 in Bonds to C&C Development for the 815 North Harbor Apartments located in Santa Ana, California

Aug 14, 2015

The 815 North Harbor Apartments project is a new construction project located in Santa Ana, California.  The project will involve the new development of a 70-unit, mixed income, mixed-use rental community made up of 59 affordable units and 13 market rate units. The project will incorporate 6,170 square feet of ground floor street retail space. Architecturally, the buildings will be designed to complement and enhance the neighborhood. Expected start date is August 2015 and expected completion date is December 2016.