Archive for April, 2018

CMFA Financings Enable $210,000 in Contributions to California Nonprofits

Apr 27, 2018

The CMFA continues to give back to the communities in California by directing a portion of its issuance fees to charitable organizations. Six 501(c)(3) organizations received $210,000 total in contributions from the California Foundation for Stronger Communities with funds donated by the CMFA.

The 10 well-deserving organizations include:

Coalition to Abolish Slavery and Trafficking

Daniel Hernandez Youth Foundation, Inc.

Journey Out

My Sisters House

Pilipino Workers Center

South Coast Seniors Inc.

South Yuba River Citizens League

Stand Up Placer, Inc.

The Miracle League of Orange County

Us for Warriors Foundation

Jamboree Housing Corporation to Construct 1296 Shotwell Apartments in the City of San Francisco through $30,000,000 Low-cost Financing Secured Through the CMFA

Apr 27, 2018

Median Income. The project will be on a site currently owned by the City and County of San Francisco, and will involve the developers leasing the land from the Mayor’s Office of Housing and Community Development. 1296 Shotwell Street will invigorate the end of Shotwell Street

This project meets critical needs in San Francisco, as all 94 units, except the manager’s unit, will be dedicated to seniors earning less than 50% of the Area Median Income. Additionally, 19 of these units will be allocated to formerly homeless seniors earning less than 30% of the Area Median Income. In addition, there will be on-site health workshops and off-site group services for patients with mild-moderate level need, particularly for chronic care. The services team will also refer residents to off-site programs, such as Mission Neighborhood Centers, Inc. for health and social services. This financing will provide 93 units of affordable housing in the City of San Francisco for the next 55 years.

The CMFA Assists MRK Partners on an $47,000,000 Tax-Exempt Bond Financing

Apr 27, 2018

The proceeds of the Bonds will be used for the acquisition and rehabilitation of the Monterey Pines Apartments. The project is a 324-unit multifamily residential rental facility, located at 680 South 37th Street, Richmond, CA. The project consists of 26 two-story buildings. Due to the age and condition of the project, it is in need of substantial rehabilitation. Amenities include a swimming pool, fitness center, clubhouse, laundry facility and gated access. This financing will preserve a much needed 321 units of affordable housing for the City of Richmond for another 55 years.

The CMFA PACE Program Issues $3,978,971 in Property Assessed Clean Energy Bonds

Apr 9, 2018

PACE (Property Assessed Clean Energy) is an innovative program that provides residential and commercial property owners with low-cost, long-term financing for water conservation, energy efficiency, and renewable energy improvements. All while helping local governments meet their water and energy conservation objectives.

The CMFA issued another $3,978,971 in residential PACE bonds today.

CMFA Financings Enable $70,000 in Contributions to California Nonprofits

Apr 6, 2018

The CMFA continues to give back to the communities in California by directing a portion of its issuance fees to charitable organizations. Six 501(c)(3) organizations received $70,000 total in contributions from the California Foundation for Stronger Communities with funds donated by the CMFA.

The 10 well-deserving organizations include:

LIL ANGEL BUNNY FOUNDATION INC. dba ELEVATE HOPE

Selma Arts Foundation

Shafter Symphony Orchestra

Veterans Association of North County

WHW (Women Helping Women/ Men 2 Work)