Archive for February, 2016

The CMFA issues $10,000,000 in Bonds to the Gindi Maimonides Academy located in Los Angeles, California

Feb 10, 2016

Gindi Maimonides Academy was founded in 1968 to provide a superior and diverse educational experience for its students. The School began with fewer than 15 students and has grown to serve nearly 300 families and over 500 students. The proceeds of the Bonds will be used to finance and refinance the acquisition, construction, renovation, improvement and equipping of certain educational and other facilities located on the Academy’s main campus that is located in Los Angeles, California.

CMFA issues $18,948,166 in Bonds to East Bay Asian Local Development Corporation for the Marcus Garvey Common and Hismen Hin-Nu Terrace Apartments located in Oakland, California

Feb 10, 2016

Marcus Garvey is an existing 22-unit project located in Oakland. Originally constructed in 1992, the structures and site are in need of significant rehabilitation to replace items that have exceeded their useful life. Hismen Hin-Nu Terrace Apartments, built in 1995, is an existing 92-unit project also located in Oakland, California.

CMFA issues $23,840,000 in Bonds to Inland Construction and Development Corporation for the Copper Square Apartments located in Lancaster, California

Feb 5, 2016

The Copper Square Apartments is an affordable multifamily new construction project that will consist of a 204-unit housing community located in Lancaster, California. The proposed Project will be constructed on a 13.6-acre portion of a 19.48-acre vacant parcel in central Lancaster. The remaining acreage is reserved for future phased development. The Project, which will consist of nine three-story residential buildings, a single-story clubhouse building and 396 parking spaces; will house 201 tenant units and three manager’s units. All tenant units will be income restricted: 21 units at 50% Area Median Income (“AMI”) and 180 units at 60% AMI. The financing of this project will result in the creation of 201 affordable apartments for the next 55 years in the City of Lancaster.

CMFA issues $20,000,000 in Bonds to Serra Catholic Grammar School in Rancho Santa Margarita, California

Feb 1, 2016

The Roman Catholic Bishop of Orange, working closely with parents, founded Orange County’s first and only tri-parish elementary school. This school, which was the first new Catholic elementary school in Orange County in 15 years, opened in the fall of 1995. The Bonds will be used for the acquisition, construction, renovation, improvement and equipping of certain educational facilities, including related administrative facilities, site improvements, and parking, located in the City, including but not limited to construction or renovation of facilities for classroom instruction in science, technology, engineering, arts and mathematics to be located on the Campus.