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.

The CMFA Issues $33,172,838 in Low Cost, Tax-Exempt Financing for Coliseum Place Apartments

Jan 10, 2020

The Coliseum Place Apartments is a new construction project located in Oakland on a 0.47-acre site. The project consists of 58 restricted rental units, and 1 unrestricted manager unit. The project will have 11 one-bedroom units, 28 two-bedroom units, and 20 three-bedroom units. The building will be 6 stories. Common amenities include a large community room with a common kitchen, a lobby, property management offices, and resident services offices. Each unit will have a refrigerator and range. There are 27 parking spaces provided. The construction is expected to begin November 2019 and be completed March 2021.This development will provide the City of Oakland with 58 much needed units of affordable housing for the next 55 years.

CMFA Issues $45,000,000 in Tax-Exempt Financing for The Crossing at Montague Apartments

Nov 19, 2019

The Crossing at Montague Apartments is a refinancing of a multifamily project located in the City of Milpitas, California. Construction of the initial project was completed in 2002. The Project consists of 468 units in 16 buildings with a cumulative size of approximately 389,900 rentable square feet. 94 of the units are designated as affordable units. Amenities include a clubhouse, racquetball court, media center, heated swimming pool and spa, playground, picnic area and approximately 828 parking spaces for use by residential tenants. The refinancing of this project will continue to provide affordable housing for 94 low-income households in the City of Milpitas for the next 40 years.

The CMFA Completes $294,905,000 Financing for LAX United Airlines, Inc.

Nov 7, 2019

The CMFA issued $294,905,000 in bonds for the design, acquisition, development, construction, demolition of existing facilities, reconstruction, expansion, improvement, equipping and/or modification, as appropriate, of certain facilities to support the operations of United at LAX, including an aircraft maintenance and ground service equipment complex and certain other improvements, all comprising airport facilities within the meaning of Section 142(a)(1) of the Internal Revenue Code. 

The CMFA Completed the issuance of $19,010,000 in Bonds for Hollywood El Centro Apartments

Oct 29, 2019

The Hollywood El Centro Apartments project is an acquisition/rehabilitation of an 87-unit affordable housing community located at 6211 De Longpre Avenue, Los Angeles, CA. The project is made up of seven two-story garden-style residential buildings. The scope of renovations will include unit interior rehabilitation, including new carpet and flooring, new cabinets and countertops, new sinks, vanities, plumbing fixtures and appliances. Rehabilitation of the common area will include renovation of the existing community room with new furniture. Building envelope renovations will include painting and repairing of the building exterior, general site improvements, new landscaping and improvements to parking areas, walkways and site lighting. This financing will preserve 87 units of affordable housing for the City of Los Angeles for another 55 years.

The CMFA Issues $95,320,000 of Tax-Exempt Financing for the University of San Diego

Oct 17, 2019

Proceeds of the bonds will be used to finance and refinance the acquisition, construction, improvement, renovation and equipping of certain educational facilities and other appurtenant facilities and to refinance outstanding obligations of the University of San Diego which financed certain educational facilities and other appurtenant facilities , all of which are or to be located in the County of San Diego and owned and operated or to be owned and operated by the Borrower.

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