Author Archive
Jun 15, 2012
The CMFA continues to give back to the communities in California by directing a portion of its issuance fees to charitable organizations. The following four non-profit 501(c)(3) organizations received a total of $42,000 in grants from the California Foundation for Stronger Communities with funds donated by the CMFA:
• The Jenesse Center, Inc., the oldest domestic violence intervention program in South Central Los Angeles. The organization is known for their comprehensive, centralized support provided to victims of domestic violence.
• The South Asian Network provides an open forum for people of South Asian origin to gather and discuss social, economic, and political issues affecting the community, with the goal of raising awareness, engagement and advocacy among community members leading to an empowered and active community.
• The Center for Domestic Peace operating under the name Marin Abused Women’s Services has helped thousands of women, children, and men to end the violence and to achieve safe, productive lives.
• John Glenn High School Drama Department received a grant to cover a portion of the drama student’s travel and expenses when they qualified to compete in the National Thespian Festival in Nebraska. John Glenn High School is located in an economically disadvantaged neighborhood that battles gangs, drugs and poverty.
Jun 15, 2012
The CMFA successfully closed a $4,454,000 tax-exempt financing for Chelsea Investment Corporation. Proceeds will be used to construct a 54 senior-family apartment building in Calexico, California. When complete the DeAnza II Apartments will provide homes to seniors with incomes that are 30-60% below the Area Median Income.
Jun 15, 2012
The CMFA recently completed an $11,500,000 financing for the award winning Mid Pen Housing. The low-cost financing will be used to construct an affordable housing development on the former Fort Ord Army base in Monterey County, California. The project, known as Manzanita Place, will be part of East Garrison – a master planned new urbanist community. When completed, the complex will enable 65 families to enjoy high quality, affordable housing.
Jun 15, 2012
The CMFA recently closed a $12,000,000 financing for Lycee International de Los Angeles. The private, coeducational school serves students in preschool through 12th grade. The school is dedicated to bilingual and bicultural education. Proceeds from the tax-exempt financing will assist in the acquisition and rehabilitation of an educational facility in Burbank, California.
Jun 15, 2012
The CMFA recently assisted Hitzke Development Corporation by facilitating the $4,200,000 tax-exempt financing of an acquisition and rehabilitation project in Imperial Beach. The mixed-use project will provide 29 affordable apartments for those with low to very low income levels as well as a meeting facility for the American Legion Post.
Jun 15, 2012
The CMFA recently completed a $23,050,000 financing for the Goodwill Industries of Sacramento Valley & Northern Nevada, Inc. Goodwill Sacramento is a community-based, nonprofit organization that provides jobs for the disabled, disadvantaged and disenfranchised in the Sacramento Valley and Northern Nevada.
Jun 15, 2012
The CMFA successfully closed a $ 2,100,000 tax-exempt financing for Star Holding. The low-cost financing will be used to acquire and rehabilitate Yucca Trails Apartments located near Joshua Tree, California. The complex consists of 49 one and two-bedroom apartments for low income residents in San Bernardino County.
Jun 15, 2012
The CMFA successfully closed a $ 14,200,000 tax-exempt financing for EAH Housing. EAH serves over 15,000 seniors, families, students, people with disabilities, frail elderly and the formerly homeless. The low-cost financing will be used to acquire and rehabilitate Los Robles Apartments in Union City, California. The complex consists of 19 two-story buildings and will be home to more than 140 low income families.
Jun 15, 2012
The CMFA successfully closed a $44,515,000 tax-exempt financing for Caritas Corporation, a non-profit public benefit corporation. Proceeds from the financing will be used to acquire and complete capital improvements on three separate mobile home parks located in Vacaville, Newcastle and Lancaster, California.
Jun 15, 2012
The CMFA recently closed a $6,100,000 financing for Campbell Christian Schools. The school serves pre-school and school-age students in Silicon Valley. Proceeds will be used to complete the construction and equipping of a new educational facility and improve and enhance the entire campus.
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