Author Archive
Jan 16, 2012
The CMFA recently approved a $9.6MM transaction for Chelsea Investment Corporation. Bond proceeds will be used to construct a new 71-unit multi-family housing facility located in the City of El Centro, California. The high quality project will consist of one, two and three bedroom units. The project includes site amenities like gated access, covered parking, recreational areas, community room, barbecues, children’s play area, and after-school programs.
Jan 16, 2012
This unique project will acquire and rehabilitate the historic Masonic Temple built in 1917 and Vallejo’s former City Hall both of which are currently sitting vacant. Once completed the project will be mixed use and artfully combine aretail component with 28 affordable housing units. The project is aimed at revitalizing the City of Vallejo’s downtown area.
Jan 16, 2012
Community Preservation Partners, long known for revitalizing existing projects, recently secured $8,750,000 in tax-exempt financing through the CMFA. Proceeds from the bonds will be used to acquire several multi-family apartment communities located throughout Kern County. A total of 199 units will be acquired and rehabilitated for low-income households in the area.
Dec 28, 2011
The CMFA completed the issuance of $5,370,000 in tax-exempt private activity bonds benefitting St. John’s Well Child and Family Center located in the City of Los Angeles, Los Angeles County, California. St. John’s Well Child and Family Center provides needed healthcare to more than 100,000 patients in south Los Angeles. Proceeds from the low cost bonds were used to refinance existing debt associated with their 11 clinics.
Dec 28, 2011
The CMFA completed the issuance of $3,200,000 in tax-exempt private activity bonds benefitting Countryway and Midland Manor Apartments located in the City of Mendota, Fresno County, CA. Proceeds of the bonds will be used to acquire and rehabilitate a total of 79 affordable apartments for low-income residents.
Dec 28, 2011
The CMFA completed the issuance of $33,895,000 in tax-exempt private activity bonds benefitting Concordia University located in the City of Irvine, Orange County, California. Proceeds from the low cost bonds were used to refinance existing debt associated with the acquisition and construction of their educational facilities, student housing, and other facilities used by the university.
Dec 28, 2011
The CMFA completed the issuance of $3,250,000 in tax-exempt private activity bonds benefitting Valley Commons East located in the City of Grass Valley, Nevada County, CA. Proceeds will be used to acquire and rehabilitate 56 affordable apartments for low-income residents.
Dec 28, 2011
The CMFA completed the issuance of $54,085,000in tax-exempt private activity bonds benefitting Emerson University located in the City of Los Angeles, Los Angeles County, California. Proceeds from the low cost bonds were used to finance a major expansion of their Los Angeles campus and includes the construction, improving and equipping a new 10-story, 115,000 square foot facility which will include classrooms, administration, student housing, retail and subterranean parking.
Dec 28, 2011
The CMFA completed the issuance of $11,225,000 in tax-exempt private activity bonds benefitting Family Healthcare Network located in the Cities of Porterville and Visalia, County of Tulare, California. Family Heatlhcare Network is a licensed community clinic providing health care to 106,000 patients annually. Proceeds of the bonds will be used to construct two separate buildings housing medical exam rooms and dental operatories in the two cities.
Dec 28, 2011
The CMFA completed the issuance of $33,814,000 in tax-exempt private activity bonds. Proceeds from the bonds will be used for a major rehabilitation project for Satellite Housing. Glen Brook Terrace Apartments, Park Boulevard Apartments, Satellite Central, Doh On Yuen Apartments and Stuart Pratt Manor all provide affordable housing for seniors in Alameda County.
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