May 17, 2016
American Heritage Education Foundation (“AHEF”) is a non-profit, non-partisan organization 501(c)(3) dedicated to the understanding and teaching of America’s philosophical heritage to promote constructive citizenship and freedom, unity, progress, and responsibility among students and citizens.
Recently, AHEF selected the CMFA as its issuer of tax exempt bonds. Proceeds were used to finance the costs of the acquisition, construction, improvement, renovation and equipping of public charter school facilities located in Escondido California. The refinancing allows the organization to stabilize their interest costs and take advantage of the current low interest rates.
May 13, 2016
MRK Partners, Inc. completed the issuance $16,400,000 of tax-exempt private activity bonds to finance an affordable housing project in the City of Los Angeles, Los Angeles County, California.
The Buckingham Apartments is an acquisition/ rehabilitation of an existing affordable housing multifamily tax credit project. The project is an 84 unit multifamily residential rental facility consisting of five buildings all within approximately 1/5 of a mile from each other. This financing will preserve a much needed 83 units of affordable housing for the City of Los Angeles for another 55 years.
May 11, 2016
King-Chavez Neighborhood of Schools is focused on closing the achievement gap between urban students and their suburban counterparts, promoting social justice through educational reform, and developing local leaders.
Recently, King Chavez Academies selected the CMFA as its issuer of tax exempt bonds. Proceeds were used to refund outstanding debt and finance the costs of constructing improvements to, expansion of, renovation of, and equipping of educational facilities located throughout San Diego County.
Apr 13, 2016
In September 1972, Golden Valley Health Centers (“GVHC”) opened its doors as a County hospital-operated migrant health program. For the first two years, services were delivered part-time from space available at the hospital.
In 1973, a citizens group agreed to separate from the County and form a nonprofit corporation capable of receiving available migrant health funds. The new group would deliver services full-time from facilities owned by the new nonprofit Merced Farmworkers Health Project, Inc.
Land was purchased later that year and work started on the construction of a small medical and dental clinic. Completed in the summer of 1974, the clinics were ready for their first fulltime medical doctor and dentist. Since that time, GVHC has grown from a migrant health program into a multifaceted corporation with 26 sites and 120 clinicians serving two counties. All in the span of just four decades.
The proceeds of the bonds will be used to refund the outstanding debts and finance the renovation of healthcare facilities to create three new care suites, the build out of 8,100 square feet of leased space in Turlock California, to be used by GVHC as a primary health care center, build out of 2,880 square feet of leased space in Empire California, to be used by GVHC as a primary health care center, the acquisition and renovation of an 8,308 square foot facility in Ceres California to be used as a primary health care center and the renovation of approximately 4,100 square feet of GVHC’s Merced dental facility, to provide facilities for new dental services.
