The CMFA issues $73,150,000 to the California Housing Foundation for the Inland Regional Center (“IRC”) in San Bernardino, California
Aug 27, 2015
Since 1971, the Inland Regional Center (“IRC”) has contracted with the State of California to provide services for the developmentally disabled and their families. IRC is among the largest regional centers and in fiscal year 2013-14 IRC coordinated the delivery of services to 30,631 consumers within a service area of nearly 28,000 square miles that comprise all of San Bernardino and Riverside counties. The proceeds of the Bonds will be used to refund, on an advance basis, the California Statewide Communities Development Authority $77,530,000 Revenue Bonds (Inland Regional Center Project), Series 2007 which were used to finance the acquisition, construction and equipping of a 200,000 rentable square feet office facility (the “Facilities”) for lease to IRC located in San Bernardino, California.