Linfield Christian School Selects the CMFA as Issuer

Jan 20, 2017

The CMFA issued 23,000,0000 to the Linfield Christion School. The proceeds of the Bonds will be used to refinance outstanding indebtedness of the Borrower 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 campus located at 31950 Pauba Road, Temecula, California 92592.

LINC Housing Secures Tax-Exempt Debt Through the CMFA

Jan 17, 2017

The CMFA issued $7,864,000 in tax-exempt bond proceeds to LINC Housing for the construction of a new affordable housing project. The Diamond Court Apartments project is a new construction of a 45-unit affordable multi-family housing development consisting of 5 two story buildings on 2.27 acres. The project site is an infill location. The project accommodates families with unit sizes of one, two, and three bedrooms located at Diamond Street, Anderson, CA. Five of the units will be built as accessible, and 2 units will have auditory and visual communications features.

The CMFA Issues $203,800,000 in Tax-Exempt Financing for the NorthBay Healthcare Group

Jan 11, 2017

The CMFA issued $203,800,000 in tax-exempt bonds for the NorthBay Healthcare Group. Proceeds of the Bonds will be applied to finance the renovation and expansion of NorthBay Medical Center, including equipping of the renovation and expansion, located at 1200 B. Gale Wilson Boulevard, Fairfield, California, and the renovation of certain related health care facilities, known as Gateway Medical Plaza, located at 1860 Pennsylvania Avenue, Fairfield, California, each of which is owned and/or operated by the NorthBay Obligated Group.

The CMFA Assists AVID on a $29,215,000 Tax-Exempt Bond Financing in San Diego, CA

Jan 10, 2017

The CMFA acted as issuer of $29,215,000 in tax-exempt bonds used to finance the acquisition of a 92,463 square foot headquarters and office building located at 9797 Aero Drive, San Diego, CA 92123; finance capital improvements and fixtures, furniture and equipment for the facility and pay expenses incurred in connection with the issuance of the Obligations.  The financed facilities will be owned and operated by the Borrower.

The CMFA Completed the issuance of $34,445,000 in Bonds for the City of San Bernardino Municipal Sewer

Dec 28, 2016

The proceeds of the Bonds will be used to finance the acquisition and construction of certain sewer system capital improvements of the City of San Bernardino, California; refund outstanding obligations of the City relating to the City of San Bernardino Municipal Sewer Department; fund a deposit to a common reserve account for the 2016 Bonds; and pay the costs of issuance of the 2016 Bonds. 

SDG Housing Partners to Purchase and Rehabilitate Granger Affordable Apartments in the City of National City through Low-cost Financing Secured Through the CMFA

Dec 22, 2016

The Granger Apartments is an existing 180-unit multifamily affordable community originally built in 1970, located at 2700 East 8th Street, National City, CA. The project is made up of 160 1-bedroom units, 20 2-bedroom units and 2 non-revenue producing 2-bedroom manager’s units. The 178 restricted units will be restricted to households making no greater than 60% of AMI. The financing of this project will result in the preservation of affordable housing for 178 low income households in National City for the next 55 years.

The CMFA Completed the issuance of $5,700,000 in Bonds for Madera Vista Phase 3 Apartments

Dec 20, 2016

Bridge Housing chose the CMFA as Issuer of tax-exempt bonds to construct a new affordable housing project. The Madera Vista Phase 3 Apartments project is a new construction development of a 30-unit multifamily apartment project that is the third phase of a 110-unit affordable housing community located at 44155 Margarita Road, Temecula, California. Residents of Madera Vista Phase 3 will be able to use all of the amenities located in Phase 1 and/or Phase 2 including two community buildings, two swimming pools, a hot tub, central laundry facility, basketball court, bocce ball and open picnic area. The financing of this project will result in creation of affordable housing for 29 families in the City of Temecula for 55 years.

Skid Row Housing Trust teams up with the CMFA on Acquisition Rehabilitation of an Affordable Apartment Project in Los Angeles, CA

Dec 16, 2016

The Simone Apartments is an acquisition/rehabilitation of an existing 114-unit affordable multi-family rental development located at 520 S. San Julian Street, Los Angeles, California. The project involves the refinance of existing public debt with 4% Low Income Housing Tax Credits and tax-exempt bonds. Renovations include retrofitting of major building systems to increase the physical lifetime and energy efficiency of each building and increase the financial sustainability of the project. The project will be made up of studio apartments serving formerly homeless households making 30%, 40%, 50% and 60% or less of Area Median Income.

The City of Gilroy to Benefit from Tax-Exempt Financing with the CMFA

Dec 16, 2016

The Pacific Companies requested that the CMFA issue $33,000,000 in tax-exempt bonds for the construction of the Harvest Park Apartments. The Harvest Park Apartments is a new construction project located on two sites in Gilroy, California. The first site will consist of 32 units located on 2 acres at the northwest corner of Wren Avenue and Cohansey Avenue. The second site will consist of 66 units located on 3.61 acres at the northwest corner of Monterey Road and Cohansey Avenue. This site will contain a 3,093 square foot community building that will be shared by both sites. The financing of this project will provide the City of Gilroy with 96 units of affordable housing for the next 55 years. The financing of this project will provide the City of Gilroy with 96 units of affordable housing for the next 55 years.

Community Housing Works Secures Tax-Exempt Debt Through the CMFA

Dec 14, 2016

The CMFA issued $7,708,310 in tax-exempt bonds to finance the acquisition and rehabilitation of the Cedar Nettleton Apartments. The Cedar Nettleton Apartments is a 68-unit complex located in Vista, CA. The project was previously two separately syndicated 9% tax credit projects adjacent to each other. They will now be operated as one. The Cedar site was built in 1996 and the Nettleton site was built in 1999. The 2-story development is comprised mainly of townhomes and offers a variety of amenities including a 2,000 square foot community building with a leasing office, two tot lots, laundry facilities, resident organic garden and a central courtyard.

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