Automated People Mover at Los Angeles International Airport Wins Global Transport PPP of the Year Award.

Aug 5, 2019

The inaugural Global PPP of the Year Awards took place in Madrid at PPP 2025 in June. The finalists comprised each reigning project champion from the three regional Awards in London, New York and Sydney to go head-to-head for the coveted Global PPP of the Year Award. The CMFA was the Issuer for the Automated People Mover at Los Angeles International Airport, winner of the Global Transport PPP of the Year Award. 

CMFA Issues a $175,065,00 Tax-Exempt Financing for the CHF-Riverside II, LLC

Jul 17, 2019

The proceeds will be used to finance the costs of construction of a science and technology building, remodeling current middle school classrooms, restructuring a parking lot, and upgrading the middle school quad, including all associated design, engineering and planning costs related thereto and related capital project costs (collectively, the “Facilities”) and paying related expenses incurred with respect to the Loans.  The owner and operator of the Facilities will be the School, which is located at 19692 Lexington Lane, Huntington Beach, California.

CMFA Issues a $175,065,00 Tax-Exempt Financing for the CHF-Riverside II, LLC

The project, to be known as the “North District Phase I” will consist, approximately, of a 1,500-bed student housing facility (the “Series 2019 Project”). The 2019 Project will also include the constructing and improving certain landscaping, hardscaping utility lines, access roads, loading docks and sidewalks on land owned by The Regents, but not leased to the Borrower.  The site for the construction of the Series 2019 Project (the “Series 2019 Project Site”) is on approximately 15 acres on the campus of UC Riverside to be situated along an extension of Aberdeen Drive in Riverside, California. The Series 2019 Housing Project is intended primarily for upper-division undergraduate students. Construction of the Series 2019 Project is scheduled to begin in July 2019. The Developer and UC Riverside anticipate that the Series 2019 Project will be complete in time for occupancy for Fall 2021.

 The Series 2019 Project will include one five -story apartment building, one six-story apartment building, community spaces and support facilities. The approximately 25,000 gross-square-feet of community spaces located on the ground floors of the buildings will include a variety of student-oriented amenities, including a fitness center, leasing and business offices, lounges, multi-purpose and seminar rooms and a University-operated market. Floors where the students reside will include small group study spaces and outdoor terraces.

 The Series 2019 Project will provide apartment-style accommodations in a combination of single and double occupancy rooms and bathrooms, with shared living and dining space in each apartment. The Series 2019 Project will include approximately 415 undergraduate units Additionally, the Series 2019 Project will include approximately four residential units for staff.

All Series 2019 Project units will include individual air conditioning, be fully furnished and have connections for high-speed internet access. Each student will have his or her own closet, full sized bed, desk and chair. Students will also have high-speed wireless internet service, the cost of which will be included in the rental rate.

CMFA Completed the issuance of $6,125,000 in Bonds for the Pegasus School

Jul 11, 2019

The proceeds will be used to finance the costs of construction of a science and technology building, remodeling current middle school classrooms, restructuring a parking lot, and upgrading the middle school quad, including all associated design, engineering and planning costs related thereto and related capital project costs (collectively, the “Facilities”) and paying related expenses incurred with respect to the Loans.  The owner and operator of the Facilities will be the School, which is located at 19692 Lexington Lane, Huntington Beach, California.

The CMFA PACE Program Issues $3,244,303 in Property Assessed Clean Energy Bonds

Jul 11, 2019

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 $3,244,303 in residential PACE bonds today.

The CMFA Issues $31,610,000 in Low Cost, Tax-Exempt Financing for Mt. San Antonio Gardens

Jul 10, 2019

The Corporation intends to use the proceeds of the Bonds, together with other available funds, to (i) finance the construction, improvement, renovation and equipping of the continuing care retirement community owned and operated by the Corporation (the “Project”); (ii) currently refund the Authority’s Senior Living Revenue Bonds (Mt. San Antonio Gardens Project), Series 2010 (the “Series 2010 Bonds”), $16,375,000 of which are currently outstanding; (iii) fund a debt service reserve fund for the benefit of the Bonds; (iv) pay a portion of the interest on the Bonds during the construction of the hereinafter described Project; and (v) pay certain of the costs of issuance of the Bonds. 

The CMFA Works with APEC to Finance Affordable Housing with Tax-Exempt Financing of $15,000,000

Jun 27, 2019

The Hotel Fresno project will consist of the complete renovation of the existing vacant Hotel Fresno. The Hotel Fresno project will be a mixed-use project consisting of 40 restricted affordable housing units at 50% AMI, 38 units at 80% AMI, and 1 unrestricted manager unit with light retail commercial uses on the first floor of the building. The overall project residential units and residential support areas such as the community room, computer room, sitting areas, and management offices will be located on floors 2-7 and the basement floor. The ground floor commercial space will be designated for light retail/commercial, all within the footprint of the existing structure. All units will have central heat and air conditioning. The building will have controlled access, laundry rooms, and free WIFI. In addition to the Hotel Fresno building, the project will also include an outdoor recreation/play area to be located on an adjacent property to the rear of the existing building. The project will have access to 41 parking spaces for the affordable housing tenants and manager on adjacent property southeast of the building. This financing will create 40 units of affordable housing and another 38 units at 80% for the City of Fresno for the next 55 years.

The CMFA PACE Program Issues $4,110,182 in Property Assessed Clean Energy Bonds

Jun 19, 2019

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 $4,110,182 in residential PACE bonds today.

Town and Country Manor of the Christian Missionary Alliance Finances Town & Country Manor with a $34,385,000 Issuance From the CMFA

Jun 13, 2019

Town and Country Manor will use the proceeds of the Bonds, together with other available funds, to (i) finance a portion of the acquisition, construction, improvement and equipping of a new two-story 48 unit, 88 bed memory care facility and related parking garage of the Community, including capitalized interest on the Bonds through October 1, 2020; (ii) redeem all of the Authority’s Refunding Revenue Bonds (Town and Country Manor), Series 2013 (the “Prior Bonds”), issued to refinance the acquisition, construction, improvement and equipping of certain retirement, nursing and assisted living facilities of the Community; (iii) fund a bond reserve account for the benefit of the Bonds; (iv) pay an insurance premium and related fees to the Office of Statewide Health Planning and Development of the State of California; and (v) pay costs of issuance of the Bonds.

The Project entails a new two-story, 50,564 square foot building that will include 48 units (8 private rooms and 40 semi-private rooms) and 88 beds. The building will be separated into four neighborhoods with therapeutic kitchens, quiet rooms, spas, activity rooms, and large dining and entertainment centers. The facility will also include a food preparation kitchen, housekeeping, storage space and personal laundries. Outdoor spaces will consist of a “walled-in” memory garden on the first floor and a sun deck/ terrace on the second floor. The Project will also include the construction of a 24,728 square foot one-story basement parking garage, with 51 car parking spaces and storage, commercial laundry and utility rooms.  Upon completion of the Project, the Community will consist of 361 units/beds. 

The CMFA Issues $4,875,127 in Tax-Exempt Debt for Santa Clara University

Jun 12, 2019

The Santa Clara University financing proceeds will be used to refinance indebtedness of the Borrower that was incurred to finance and refinance the acquisition, construction, improvement, rehabilitation, renovation and equipping of educational facilities owned by the Borrower and located on the Borrower’s campus at 500 El Camino Real, Santa Clara, California.

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