Archive for December, 2017
Dec 15, 2017
The Beachwood Apartments is the acquisition/rehabilitation of 45-unit affordable multifamily apartment project located at 475 West 5th Street and 505 West 6th Street, Long Beach, CA. The project provides a community room plus open green space and tot lots. The property amenities include a gym, computer room, garden, community lounge area and lush courtyards. Building renovations will consist of upgrades to mechanical, HVAC equipment and gas boilers. In addition, all windows will be replaced with a dual pane low-e type system. Interior renovations will include upgrades to the community room in the form of new flooring, paint, a new kitchen including appliances and a lounge seating area. Individual apartment units will be updated with new cabinets, countertops, flooring and bathroom upgrades. The financing of this project will result in the retention of affordable housing for 44 low income households in the City of Long Beach for the next 55 years.
Dec 14, 2017
The proceeds of the Bonds will be issued pursuant to a plan of financing to: (1) finance and refinance the 2017 Project, (2) refund all or a portion of the outstanding California Educational Facilities Authority Revenue Bonds (Pomona College) Series 2008A (the “2008A Bonds”), issued to finance or refinance the 2008A Project; (3) refund all or a portion of the outstanding California Educational Facilities Authority Revenue Bonds (Pomona College) Series 2009A (the “2009A Bonds”), issued to finance or refinance the 2009A Project, (such 2009A Project, together with the 2017 Project and the 2008A Project, the “Project”); and (4) pay costs of issuance and certain interest with respect to the Bonds.
Dec 7, 2017
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 recently issued $3,431,590 in residential PACE bonds in December.
Dec 7, 2017
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 $3,431,590 in residential PACE bonds this week.
Dec 6, 2017
The CMFA recently issued $100,000,000 in Tax Exempt financing for Waste Management, Inc. The funds will be used for financing solid waste disposal and recycling facilities, as follows: (a) improvements to existing landfill facilities, including (i) construction of new disposal cells and liners within currently permitted acreage, (ii) installation of new liners for intermittent and final closure of completed sections of the landfill facilities, (iii) site improvements, (iv) acquisition of equipment to be used at the landfill facilities, and (v) acquisition of other equipment and assets (including, but not limited to, land) necessary to support the foregoing improvements and to place them into service and (b) an existing collection (hauling) and transfer station facility, including (i) construction of new buildings, (ii) acquisition of solid waste and recycling sorting and processing equipment, (iii) site improvements, and (iv) acquisition of other equipment and assets (including, but not limited to, land) necessary to support the foregoing improvements and place them into service.
Dec 5, 2017
The CMFA issued $44,300,000 to help finance the La Villa Puente Apartments project. La Villa Puente Apartments is an existing 121-unit multifamily affordable community originally built in 1972, located at 17351 Main Street, La Puente, CA. The project is made up of 9 two-story buildings. All units will be restricted to households earning 50% and 60% or less of AMI. Exterior building renovations will consist of window replacements, door replacements and a fresh coat of paint. Interior renovations will include leasing office and community room upgrades. Individual apartment units will be updated with a new appliance package, paint and electrical updates. 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 preservation of affordable housing for 120 low-income households in the City of La Puente for the next 55 years.
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