Author Archive
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.
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
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.
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.
Jun 30, 2016
MidPen Housing Corporation is one of the nation’s leading non-profit developers, owners and managers of high-quality affordable housing. MidPen has developed over 100 communities and 6,600 homes for low-income families, seniors and special needs individuals throughout Northern California over the last 40 years.
This bond financing enabled MidPen to rehabilitate an 80-unit affordable multi-family housing development. City Center Plaza was developed in 1997 with low-income tax credits. The project is arranged in six separate buildings. One-hundred percent of the units will be restricted to households making no more than 50% and 60% of Area Median Income. In order to preserve City Center Plaza, critical building needs must be addressed in a comprehensive renovation. The project is located at 950 Main Street, Redwood City, California. This financing will continue to preserve 80 units of affordable housing in Redwood City for the next 55 years.
Jun 27, 2016
Volunteers of America National Services is one of the nation’s largest nonprofit providers of quality, affordable housing for low and moderate-income households. They create and manage housing for the homeless, families with children, the elderly, and people with disabilities, including physical and mental disabilities
This financing, issued by the CMFA enabled VOA to rehabilitate a 63-unit, affordable senior multi-family housing development known as Manzanita Place Apartments. It was constructed in 1990 as Section 202 housing for the elderly and benefits from a HAP contract on 100% of the units. Each unit will receive new interior paint. New refrigerators, ranges, and microwaves will be installed in every unit. This project is located at 1019 Madden Lane, Roseville, California. This financing will continue to preserve 62 units of affordable housing for senior households in the City of Roseville for another 55 years.
Jun 9, 2016
Eisenhower Medical Center has provided high quality, compassionate care for more than 40 years through a full range of state-of-the-art diagnostic, treatment and emergency facilities. Eisenhower is an accredited teaching hospital, with a School of Graduate Medical Education training new physicians in the specialties of family medicine and internal medicine.
The proceeds of the bonds will be used to prepay in full $18,735,000 outstanding aggregate principal amount of City of Rancho Mirage Joint Powers Financing Authority Certificates of Participation, Series 1997B, executed and delivered for the benefit of the Borrower, the proceeds of which were used to finance and refinance the costs of the acquisition, construction and equipping of certain health care capital improvements (the “Project”) owned by the Borrower and located at Eisenhower Medical Center, 39000 Bob Hope Drive, Rancho Mirage, California 92270
Jun 3, 2016
In 1967, the Santa Clara County Board of Supervisors established the Housing Authority of the County of Santa Clara (“HACSC”) as an independent local government agency to administer the federal rental assistance programs authorized by the United States Housing Act of 1937. Since 1976, HACSC has operated the federal rental assistance programs of the County of Santa Clara and the City of San José as one program. In 2008, Congress designated HACSC a Moving to Work (MTW) demonstration agency.
HACSC will be using the proceeds of the bonds for the acquisition and rehabilitation of the Laurel Grove Lane Apartments project that will consist of an 82-unit housing community located in San Jose, CA. The development will offer one, two and three bedroom units, as well as onsite laundry, property management and service offices, a community room with kitchen, and a tot lot. Laurel Grove Apartments is located adjacent to the downtown Diridon Transit Station, providing residents with immediate access to trains, light rail, buses and bike share. All apartment units will be restricted to residents with household incomes no greater than 50% and 60% of the Area Median Income. capital improvements (the “Project”) owned by the Borrower and located at Eisenhower Medical Center, 39000 Bob Hope Drive, Rancho Mirage, California 92270
May 31, 2016
Peoples’ Self-Help Housing (“PSHH”) is a national award-winning non-profit organization that creates affordable housing and self-sufficiency programs on California’s Central Coast; San Luis Obispo, Santa Barbara, and Ventura Counties.
The Jardin de las Rosas Apartments is a new construction project consisting of a 40 unit apartment property for affordable multifamily renters. The project site plan consists of 1 three-story building. The first story includes a parking garage and community center. The community center will be 3,000sq ft. which will contain a multipurpose room, kitchen, offices, classrooms, restrooms, laundry room, storage, and a mechanical room. The remaining two stories will be affordable apartments for families. The financing of this project will result in retaining 40 affordable apartments for the next 55 years.
May 19, 2016
During 1986-87, Many Mansions embarked upon its first development project. Many Mansions, along with the City of Thousand Oaks and the Conejo Future Foundation, developed Schillo Gardens. Financed through the federal tax credit program and with assistance from the City of Thousand Oaks, Schillo Gardens housed individuals and families who were low-income and whose rent would be set accordingly. Many Mansions has continued to grow its portfolio and develop affordable housing.
This bond financing will enable Many Mansions to acquire and rehabilitate the Schillo Gardens Apartments affordable multifamily rental housing facility. The project consists of 7 one-bedroom, 16 two-bedroom and 6 three-bedroom units. Many Mansions is purchasing the Schillo Gardens Apartments from the City of Thousand Oaks. Upon purchase, a significant rehabilitation will take place to address replacement of major building systems, increase energy & water efficiency and improve the individual units. Rents will be restricted to households with incomes no greater than 50% and 60% of the area median income. This project is located at 2825-2861 Los Robles Road, Thousand Oaks, California.
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