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Archive for July, 2016

Santa Rosa Community Health Centers Secures Tax-Exempt Debt Through the CMFA

Jul 12, 2016

Santa Rosa Community Health Centers provides comprehensive primary, preventative and supportive health care services through nine locations (six health clinics and three satellite facilities), primarily to the uninsured, low-income and underinsured residents of the Santa Rosa community. All nine of the SRCHC’s existing facilities are located in the City of Santa Rosa and are operated by the SRCHC.

The proceeds of the bonds will be used to refund the outstanding California Municipal Finance Authority Insured Revenue Bonds (Southwest Community Health Center), Series 2010, issued to make a loan to SRCHC in order to finance health care facilities, improve existing facilities and purchase furniture and equipment for a community clinic.

Barker Management Incorporated Works with the CMFA on Acquisition Rehabilitation of an Affordable Apartment Project in Los Angeles, CA

Jul 7, 2016

This bond financing will enable Barker Management Inc. to acquire and rehabilitate an existing 100-unit affordable multi-family housing development. The unit mix includes two, one-bedroom, 75 two-bedroom and 23 three-bedroom units. 58% of the units will be restricted to low income households making 50% or less of the Area Median Income and 42% will be restricted to very low-income households making 60% or less of Area Median Income. The project is a scattered site project located in the city of Los Angeles, California. Amenities include laundry rooms, off-street parking, security patrol, and patios for some units. This financing will continue to provide 100 units of affordable housing for the City of Los Angeles for the next 55 years. The Watts Athens Village Apartments

USA Properties to Purchase and Rehabilitate 208 Affordable Apartments in the City of Lincoln through Low-cost Financing Secured Through the CMFA

Jul 1, 2016

USA Properties Fund, Inc. is a privately owned real estate development organization specializing in the creation of outstanding senior and family communities. Founded in 1981 and headquartered in Roseville, California, USA provides a full range of capabilities for community development, including financing, development, construction services, rehabilitation and property management.

This bond financing will enable USA Properties to acquire and rehabilitate an existing 208-unit affordable multi-family housing development. The existing community consists of 24 residential apartment buildings and three leasing office/recreation buildings that include laundry facilities and a maintenance area. The project accommodates large families with unit sizes of one-, two-, three- and four-bedrooms located at 1685 1st Street, Lincoln, CA. The project will be rehabbed to increase energy efficiency, improve common area amenities and resident services. Amenities include a pool, laundry facilities, and two community rooms. This financing will preserve 206 units of affordable housing for the City of Lincoln for another 55 years.

The CMFA Assists Crystal Springs Upland School on a 32,000,000 Tax-Exempt Bond Financing in San Mateo County, CA

Jul 1, 2016

Crystal Springs Uplands School (“CSUS” or the “School”) is an independent, coeducational, college preparatory day school for grades six through twelve with a total enrollment of approximately 350. Founded in 1952, the School is located on a ten-acre suburban campus on the San Francisco Peninsula in Hillsborough, California.

The financing enabled CSUS to refinance proceeds used to purchase a 6.24-acre property in Belmont California, to serve as the School’s middle school campus, construct an academic building and multi-purpose building on the middle school campus and perform renovations and improvements on the School’s upper school campus in Hillsborough California.