Archive for June, 2018

CMFA Financings Enable $200,000 in Contributions to California Nonprofits

Jun 29, 2018

The CMFA continues to give back to the communities in California by directing a portion of its issuance fees to charitable organizations. Fifteen 501(c)(3) organizations received a total of $200,000 in contributions from the California Foundation for Stronger Communities with funds donated by the CMFA.

The 15 well-deserving organizations include:

Boys and Girls Club of Menteca and Lathrop

Calicinto Ranch, Inc.

Claddagh Fund Charities Inc.

Community Youth Ministries

Covenant House California, Inc.

Creativity Explored

Food for People Inc.

Food on Foot

Forget Me Not Farm Children’s Services

Give Every Child A Chance

Majaree Mason Center, Inc.

Operation Care and Comfort

Operation Safe House, Inc.

St. Vincent de Paul Village, Inc. dba Father Joe’s Villages

The Lytle Creek Community Center

The CMFA PACE Program Issues $3,352,542 in Property Assessed Clean Energy Bonds

Jun 28, 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 $3,352,542 in residential PACE bonds today.

CMFA Completed the issuance of $17,866,991 in Bonds for the Camino 23 Apartments

Jun 21, 2018

The CMFA Completed the issuance of $17,866,991 in bonds for Satellite Affordable Housing Association. The proceeds of the Bonds will be used to finance the construction of Camino 23 Apartments. Camino 23 is a 37-unit new construction project serving seniors located in the San Antonio District of Oakland at 1233-1253 23rd Avenue. Units will be rented to households earning less than or equal to 50% AMI. Satellite Affordable Housing Associates (SAHA) proposes to demolish the vacant warehouse and construct a new, 37-unit affordable housing development on the site. The five-story L-shaped building will feature space for property management and supportive services offices and indoor community spaces for residents to enjoy. Laundry and parking will also be provided on-site. The ground floor parking garage allows drive-thru access to an additional rear surface parking lot accommodating up to 15 parked vehicles. This financing will create 36 units of affordable housing for households in the City Oakland for 55 years.

Golden Valley Health Center Secures Tax-Exempt Debt of $23,000,000 Through the CMFA

Jun 15, 2018

The CMFA issued $23,000,000 in tax-exempt bond proceeds to Golden Valley Health Center to be used for the financing of one or more of the following capital improvement projects (collectively, the “Project”), as follows:

Merced Northview Health Center: The Merced Northview project, at 3940 Sandpiper Avenue, Merced, California, will be the construction of a two story, 26,167 square foot health center, with 37 exam rooms across from the Mercy Medical Center Hospital.

Stefani Health Center: The Stefani project, at 2768 Ranchero Lane, Atwater, California, on the site of the Joe Stefani School owned by the Merced City Elementary School, will be the construction of a one story approximately 5,000 square foot building with 9 exam rooms to serve the needs of the families whose children attend the school.

South Merced: GVHC is presently leasing space for its leadership and staff and plans to move them back to its Merced Campus at 737 West Childs Avenue Merced, California, and plans to build a 2 story, 20,000 square foot building on that site to house those employees.

LeGrand Dental: The LeGrand Dental project, located at 13161 Jefferson Street, LeGrande, California, consists of the renovation of the sterilization area of the existing building and the acquisition of capital equipment (compressor, dental chair, x-ray machine, autoclave, cassettes, dental delivery system with water system and auto sterilizer).

Los Banos Dental: The Los Banos Dental project, located at 725 West I Street, Los Banos, California, consists of the acquisition of capital equipment (Overhead, Pelton Crain light and Dental delivery system with water system).

Los Banos Medical: The Los Banos Medical project, located at 821 Texas Avenue, Los Banos, California, consists of the acquisition of capital equipment (geriatric beds; HVAC unit).

Merced Suites: The Merced Suites project, located at 847 West Childs Avenue, Merced, California, consists of building renovations (painting, flooring, plumbing, windows/doors, bathrooms), the acquisition of capital equipment (HVAC unit, exam table, fetal heart monitor, Bilirubin Scanner), and the acquisition of furniture/fixtures.

Stockton PMG: GVHC will be purchasing a two-story building at 453 East Hampton Street, Stockton California, and the practice from a retiring provider who wishes to retire. The approximately 8,000 square foot building has 10 exam rooms.

Manteca Health Center: The Manteca project at 302 Northgate Drive, Manteca, California, consists of the renovation of a one story approximately 10,052 square foot building to provide 12 exam rooms and 6 dental operatories.

Tracy Health Center: The Tracy Heath Center project consists of the renovation of an approximately 5,000 square foot leased building located at 730 North Central Avenue, Tracy, California, to provide 9 exam rooms.

West Modesto-MedNow Prompt Care: The West Modesto-MedNow Prompt Care project consists of the renovation of an approximately 2,500 square foot leased building located at 901 North Carpenter Road, Modesto, California, to provide 6 exam rooms.

North Modesto-MedNow Prompt Care: The North Modesto-MedNow Prompt Care project consists of the renovation of an approximately 5,000 square foot leased building located at 4707 Greenleaf Court, Modesto, California, to provide 9 exam rooms.

Turlock Colorado: The Turlock Colorado clinic will be a construction of an   approximately 15,000 square foot building consisting of 21 exam rooms and 3 operatories next to Emmanuel Hospital at 1910, 1930 and 1936 Colorado Avenue, Turlock, California.

Planada Medical/Dental: The Planada Medical/Dental project consists of the renovation of an approximately 4,906 square foot building located at 9235 East Broadway, Planada, California, to repair the roof, remodel the front reception, upgrade the sterilization area, acquire capital equipment (AC unit, dental chairs, cassettes w/instruments, Auto Sterilizer), and acquire furniture/fixtures including replacing window blinds.

Newman Medical/Dental: The Newman Medical/Dental project consists of the renovation of an approximately 4,754 square foot building located at 637 Merced Street, Newman, California, to make renovations (roof, painting exterior w/repairs, flooring) and to acquire capital equipment (Overhead Pelton Crain lights).

Patterson Medical/Dental: The Newman Medical/Dental project consists of the renovation of an approximately 10,108 square foot building located at 200 C Street, Patterson, California, to make renovations (roof, painting, flooring, windows/doors, bathrooms), acquire capital equipment (exam table, NST Machine, Overhead Pelton Crain Lights, dental delivery system with water system), acquire furniture/fixtures, and make land improvements (fence around patio to the front for security).

Florida Suites: The Florida Suites project consists of the renovation of an approximately 14,152 square foot building located at 1510 Florida Avenue, Modesto, California, to make renovations (roof, floors, painting, facework for wood on front of building, etc.), and acquire capital equipment (HVAC units).

Corner of Hope: The Corner of Hope project consists of the renovation of an approximately 1,855 square foot building located at 1130 6th Street, Modesto, California, to renovate reception area.

Empire Dental: The Empire Dental project, an approximately 1,406 square foot building located at located at 189 G Street, Empire, California, consists of the acquisition of furniture and fixtures.

Hanshaw Dental: The Hanshaw Dental project, an approximately 2,880 square foot building located at located at 1717 Las Vegas Street, Modesto, California, consists of the acquisition of furniture and fixtures including storage shed.

Ceres East Medical/Dental: The Ceres East Medical/Dental project, an approximately 8,300 square foot building located at located at 1920 Memorial Drive, Ceres, California, consists of the acquisition of furniture and fixtures.

The CMFA PACE Program Issues $3,875,956 in Property Assessed Clean Energy Bonds

Jun 13, 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 $3,875,956 in residential PACE bonds today.

The CMFA PACE Program Issues $6,000,000 in Property Assessed Clean Energy Bonds for Hyatt Hollywood Hotel

Jun 13, 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 $3,352,542 in commercial PACE bonds today for the Hyatt Hollywood Hotel.

The CMFA Completes a $1,181,525,000 Financing for LAX Integrated Express Solutions, LLC

Jun 8, 2018

The CMFA issued $1,181,525,000 in one or more series of bonds, notes, certificates or other obligations for the design, acquisition, construction, reconstruction, development, expansion, improvement, equipping and/or modification of certain capital improvements relating to the 2.25 mile long automated people mover train system (the “Project”), running from a consolidated rental car facility to be constructed located near La Cienega Boulevard and the 405 Freeway and terminating at the Tom Bradley International Terminal at LAX in the City of Los Angeles, California, which will be owned and operated by the Department. The Project will include, among other things, approximately 2.25 miles of elevated guideway, passenger cars that will travel along the guideway transporting passengers to and from LAX, six passenger stations (three located inside the Central Terminal Area (“CTA”) at LAX and three located outside the CTA), pedestrian passenger walkway structures connecting the stations inside the CTA with the terminals at LAX, parking garage improvements, a maintenance and storage facility (to be located east of Airport Boulevard between Arbor Vitae and 96th Street), various utility and roadway improvements, and certain other improvements related to the Project.

CMFA Financings Enable $325,000 in Contributions to California Nonprofits

Jun 8, 2018

The CMFA continues to give back to the communities in California by directing a portion of its issuance fees to charitable organizations. Ten 501(c)(3) organizations received a total of $325,000 in contributions from the California Foundation for Stronger Communities with funds donated by the CMFA.

The 10 well-deserving organizations include:

California Association of Food Banks

Grandma’s House of Hope

Homeless Children’s Network

Larkin Street Youth Services

Laura’s House

Mama’s Kitchen

Mountain Circle

Paws for Purple Hearts

Southern California Wheelchair Veterans Association

Womens Center-High Desert

The Pacific Companies Create Affordable Housing by Using 120,000,000 in Tax-Exempt Financing Issued by the CMFA

Jun 7, 2018

The CMFA issued $120,000,000 in tax-exempt financing for the Metro East Senior Apartments.

The Metro East Senior Apartments is a new construction project located in Santa Ana on a 3.17-acre site. The project will consist of 415 restricted rental units and 3 unrestricted manager units. The project will offer 96 studio units, 257 one-bedroom units and 65 two-bedroom units. The building will be a single five-story structure of wood frame design supported by a parking structure podium and concrete slab. Common amenities will include multiple courtyards, a roof deck, clubhouse, fitness gym, computer room, laundry facilities, elevators and security features. Each unit will provide a refrigerator, range/oven, dishwasher, garbage disposal, exhaust fans and covered patio or balcony. All units will be water and energy efficient and provide healthy indoor air quality. Construction is expected to begin June 2018 and to be completed December 2020. This development will provide the City of Santa Ana with 415 much needed units of affordable housing for the next 55 years.

The CMFA Issues $107,000,000 in Tax-Exempt Bonds for the Garden Brook Senior Apartments Project

Jun 7, 2018

The Garden Brook Senior Village Apartments is a new construction project located in Garden Grove on a 3.1-acre site. The project consists of 394 income restricted rental units and 3 unrestricted managers’ units. The project will have 123 studio units, 231 one-bedroom units and 46 two-bedroom units. The building will be eight (8) stories supported by perimeter foundations with concrete slab flooring on top of a podium parking. The building will be a one elevator serviced residential building. Common amenities include community gathering areas, community rooms and laundry facilities. Each unit will have a refrigerator, exhaust fans, range/oven, dishwasher and garbage disposal. The construction is expected to begin June 2018 and be completed in December 2020. The developments located in the City of Garden Grove and will proved the city 394 much needed units of affordable housing for the next 55 years.