Archive for February, 2020

The CMFA Bond Opportunities for Local Development (BOLD) Program issues $7,685,000 in Special Tax Revenue Bonds

Feb 27, 2020

The CMFA’s Bond Opportunities for Land Development (BOLD) Program has been designed to help both developers and local public agencies in California finance public infrastructure needed for new development using municipal bonds issued by the CMFA. While each bond issue is structured to meet particular credit parameters, the program offers great flexibility to accommodate varying needs of developers as they build better communities.

The CMFA Issues additional $2,000,000 of Tax-Exempt Financing for Cottage Village Senior Apartments

Feb 13, 2020

The Cottage Village Senior Apartments is a new construction project that will create 47-units of multifamily senior affordable housing with one manager unit. All units will be restricted to households earning 60% or less of AMI. The project will enable local seniors to continue to reside in the City of Manteca in a comfortable community. The form and density of the upcoming project will fit nicely into the existing community. With a relatively level site, the majority of the units will be ground level to better accommodate the seniors that will reside there. There will be energy efficient windows, energy efficient heating and cooling systems. Common areas, laundry rooms, library, exercise room and a gate and security systems. Amenities include a community room with full kitchen, exercise room, TV room, billiards room, computer room, library, ADA bathrooms, barbeque picnic areas and onsite management team. The financing of this project will result in the creation of affordable housing for 46 low-income senior households in the City of Manteca for the next 55 years.

CMFA Completes the Issuance of $8,345,000 in Bonds for Royal York Estates Mobile Home Park

Feb 13, 2020

The proceeds of the Bonds will be used for the acquisition and renovation of an existing mobile home park located at 2250 Chestnut Avenue, in the City of San Bernardino, California and to pay certain expenses incurred in connection with the issuance of the Bonds. This financing will provide 70 units of affordable housing in the City of San Bernardino.

The CMFA PACE Program Issues $1,195,650 in Property Assessed Clean Energy Bonds

Feb 7, 2020

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 $1,195,650 in commercial PACE bonds today.