Archive for December, 2017

Century Housing Partners with the CMFA on Casa Rita Apartments for a 15,419,000 Financing

Dec 28, 2017

The Casa Rita Apartments is an acquisition/rehabilitation of complex made up of three 3-story buildings for low-income families consisting of 103 units located at 6508 Rita Avenue, Huntington Park, CA. The project will enjoy a pool and community room plus open green space and tot lots. The property will feature a community room, gym, computer room, garden, community lounge area, spa, and lush courtyards. The financing of this project will result in the creation of affordable housing for 102 low income households in Huntington Park for the next 55 years.

CMFA Issues Tax-Exempt Financing for John Adams Academy

Dec 28, 2017

The CMFA issued 4,565,000 in tax-exempt bonds for John Adams Academy. The proceeds of the Bonds are to be used to finance the acquisition, construction, equipping and rehabilitation of certain improvements to an existing K-12 charter school campus located in the City of Roseville, California (the “City”) at 1 Sierra Gate Plaza, including the construction on said campus of an approximately 12,000 square foot building containing a school multi-purpose room and the renovation of certain existing facilities on said campus.

CMFA Completed the issuance of $60,100,000 in Bonds for Palomar Health

Dec 28, 2017

Proceeds of the bonds will be applied to refinance, finance, or reimburse PH for its prior payment of the costs of the acquisition, construction, expansion, improvement, renovation, and equipping of certain health care and related facilities, owned and/or operated or to be owned and/or operated by Palomar Health, which are located or to be located: in Escondido, California at 2185 Otracado Parkway, 451 East Valley Parkway, 555 East Valley Parkway, 456 East Grand Avenue, 2227 Enterprise Street, 975 South Andreasen Drive, 127-133 East Valley Boulevard, and 151-155 East Valley Boulevard; In Poway, California at 15611 Pomerado Road; and 15615 Pomerado Road; In Ramona, California on Main Street between 13th and 14th; and In San Marcos, California at 120 Craven Road. Proceeds of one or more series of Obligations may also be applied to fund a reserve fund for such series of Obligations and/or to pay certain expenses incurred in connection with the issuance of such series of Obligations.

Low Cost, Tax-Exempt Financing Provided for the Sacramento Country Day School

Dec 28, 2017

The CMFA issued $9,750,000 in tax-exempt loan financing. The proceeds of the Loan will be used to refinance existing indebtedness of SCDS. The proceeds of which Prior Debt were used to refinance the construction, acquisition, installation, renovation, rehabilitation and improvement of real property, facilities, equipment and improvements of the Borrower’s educational facilities located on its campus at 2636 Latham Drive, Sacramento, California 95864 (the “Campus”), including but not limited to a new building with classrooms, administrative offices and a new library; the construction of the Borrower’s Middle and High School Science Center and extensive refurbishment of the Borrower’s infrastructure located at the Campus; and miscellaneous construction, renovation, improvements, capital maintenance, equipment acquisition and installation thereof and improvements to one or more existing buildings located at the Campus.

The CMFA issues $28,400,455 in Tax-Exempt Financing for the Colma Veterans Village Project to assist Colma’s Low Income Residents

Dec 27, 2017

Colma Veterans Village Apartments is a new construction project located in Colma on a 2.5 -acre site. The project consists of 65 restricted rental units and 1 unrestricted manager unit. The project will have 66 one-bedroom units. The building will be 3 stories with elevators. Common amenities include a community room, laundry facilities and management offices. Each unit will have a refrigerator, range/oven and a full bathroom. The construction is expected to begin January 2018 and completed in June 2019

The CMFA Issues $18,000,000 in Tax-Exempt Financing for San Francisco Art Institute

Dec 27, 2017

The proceeds of the Bonds will be used to finance and refinance all or a portion of the acquisition, construction, improvement and equipping of certain educational facilities located in the City of San Francisco, California at 800 Chestnut Street in the City and at Herbst Pavilion, 2 Marina Boulevard in the City (collectively, the “SFAI Project”) and prepay and retire all of the outstanding loans made to the SFAI by Shanghai Commercial Bank, the proceeds of which loans previously financed and refinanced all or a portion of the SFAI Project.

Turlock Christian School Secures Tax-Exempt Debt Through the CMFA

Dec 27, 2017

The CMFA issued $7,500,000 in tax-exempt bond proceeds to Turlock Christian Schools (“TCS”) to be used for refinancing outstanding indebtedness incurred to finance and refinance the construction, acquisition, installation, renovation, rehabilitation and improvement of real property, facilities, equipment and improvements of the Borrower’s educational facilities located on its elementary school campus located at 2323 Colorado Ave., Turlock, CA 95382.

CMFA Assists East Bay Asian Local Development Corp. on an $45,154,423 Tax-Exempt Bond Financing

Dec 26, 2017

The Fruitvale Transit Village II-A Apartments is a new construction project of a 94-unit multifamily affordable housing facility. This will be the first phase of two being constructed at this site, located at the intersection of 37th Avenue and E. 12th Street in the Fruitvale neighborhood of Oakland, California. The project will be restricted to households making 50% and 60% or less of AMI. A shared paseo will sit between the phase II-A site and the future II-B site. Services will include a resident services coordinator to provide one-on-one service support including various community building and educational activities; a workforce development specialist to provide one-on-one workforce development support including individual and group sessions on job search and readiness techniques; and a long-term 3rd party case management for homeless US Veterans with mobility, medical and mental health challenges. The financing of this project will result in providing affordable housing for 92 low-income households in the City of Oakland for 55 years.

Low Cost, Tax-Exempt Financing Provided for the Southern California Institute of Architecture

Dec 19, 2017

The CMFA issued $14,205,000 in tax-exempt bond financing. The Institute will use the proceeds of the Bonds to (i) current refund the Authority’s Educational Facility Revenue Bonds Series 2011, and (ii) pay costs of issuance relating to the Bonds.

The Prior Bonds were used for (a) the acquisition, construction, improvement, renovation and equipping of land and educational facilities located at 960 East 3rd Street, Los Angeles, California 90013 (the “Campus Facilities” and at 350 South Merrick Street, Los Angeles, California 90013 (the “Parking Facilities” and, together with the Campus Facilities, the “Facilities”); and (b) paying certain Bond issuance expenses.

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