Jun 25, 2013
The CMFA recently closed a tax-exempt financing for Scripps College. As a member of the Claremont College Consortium Scripps College students benefit from joint academic programs and shared resources among the member colleges. Proceeds from the low cost financing were used to finance the school’s educational facilities, student housing, science center and other campus improvements located in Claremont, California.
Jun 17, 2013
Town and Country Manor provides a caring environment that is designed to meet the physical, social and spiritual needs of seniors. Founded in 1948, Town and Country Manor‘s wide range of services provides its 280 residents with superb care which ensures its residents with continued health and well-being. Recently, the Santa Ana, CA-based organization turned to the CMFA when it came time to refinance its existing debt. Better loan terms and lower interest costs will allow the organization to continue its superior, compassionate care for years to come.
Jun 17, 2013
San Diego Interfaith Housing Foundation recently completed an $8.2 million financing through the CMFA. Proceeds from the bonds were used to acquire the two sites located in the South Bay area of San Diego. Although well maintained, interior renovations and updates at both sites will soon begin. Residents will enjoy remodeled kitchens and bathrooms including cabinets, countertops, ranges, flooring and bath tubs, sinks, faucets and toilets. In addition energy efficient windows and patio doors and improved HVAC systems will be installed. The financing will ensure that low income residents of San Diego will have access to affordable housing for the next 55 years.
Jun 17, 2013
Rhoda Goldman Plaza is an assisted living facility that provides housing with supportive services for the elderly. Located in San Francisco, the staff at Rhoda Goldman Plaza provides a unique environment that promotes independence at an affordable cost. The Plaza houses 155 units, including 37 units for residents with dementia or Alzheimer’s disease. Residents receive quality care tailored to their individual needs enriched by culture and tradition in an atmosphere dedicated to promoting health and well-being in mind, body, and spirit. Recently, the CMFA was selected as Issuer for their tax-exempt financing. Proceeds were used to refinance existing debt. The organization will enjoy improved both lower interest costs and improved cash flow from this financing.
May 16, 2013
Job Title:
Executive Director
Position Type:
Part-Time
Compensation/Salary:
$40,000 – $75,000/Ann. DOQ
Job Code:
JVM3930
Posted On:
11 May 2013
Deadline:
Open until position filled
Company/Agency:
California Municipal Finance Authority
Job Category:
Some Other Job Category
Location:
Anaheim, CA
Job Web Site:
www.cmfa-ca.com
Job Description
The California Municipal Finance Authority (“CMFA”) assists local governments, non-profit organizations and private enterprises with the issuance of taxable and tax-exempt financing aimed at improving the communities within the State of California.
The CMFA was created on January 1, 2004 pursuant to a joint exercise of powers agreement to promote economic, cultural and community development, through the financing of economic development and charitable activities throughout California. To date, over 175 municipalities have become members of CMFA.
The CMFA’s approach of donating its revenues from operations to municipalities and 501(c)(3) non-profit organizations is unlike any other issuing authority in the state. Since 2004, the CMFA has donated over $4.5 million to more than 330 locally based non-profit organizations.
The Executive Director is appointed by and directly accountable to the CMFA Board of Directors. This is a part-time position. The Executive Director’s duties will include (among other responsibilities) reviewing and approving meeting agendas before posting; reviewing and approving all proposed financings for compliance with the CMFA joint exercise of powers agreement, guidelines and policies; reviewing and determining that all required local and state approvals have been secured; reviewing and recommending modifications as necessary to CMFA guidelines, policies and fee schedules; conferring with CMFA Counsel on any issues before the CMFA Board that require legal review; providing recommendations to the Board on every agenda item; reviewing the Financial Advisory Services contract annually; and carrying out such other duties as requested by the Board.
Candidates for this position should be able to skillfully carry out the duties listed above. The selected candidate should have considerable finance, leadership and taxable and tax-exempt financing experience. The ideal candidate should have a Bachelor’s Degree in finance or accounting, public or business administration, or closely related field. A Master’s Degree and/or CPA are preferred. Salary range for this part-time position is $40k-$75k annually commensurate with qualifications. Interested individuals should submit a letter of interest and resume (electronically preferred) to the Job Contact listed below.
The position will remain open until filled. Materials received by May 24, 2013 will have first consideration.
The California Municipal Finance Authority is an Equal Opportunity Employer.
Job Contact
Contact Name:
Ron Lee
Primary Phone:
415-391-5780 x240
Title:
Partner
Fax:
Company/Agency:
California Municipal Finance Authority
Email:
rlee@joneshall.com
Location:
Anaheim, CA
Contact Web Site:
www.cmfa-ca.com
May 6, 2013
In response to their continued enrollment growth, Biola University will construct a new residence hall and parking structure. The expansion will be financed using $40.0MM in tax-exempt bonds and issued by the CMFA. The construction is expected to be completed and ready for students in time for the Fall Semester 2015.
Founded in 1908, Biola University is firmly committed to academic excellence. The school has six schools, offering four baccalaureate degrees in 39 majors, 18 masters and eight doctoral degrees. This is the second financing that the La Mirada-based University has completed through the California Municipal Finance Authority.
Apr 29, 2013
The CMFA continues to give back to the communities in California by directing a portion of its issuance fees to charitable organizations. There were several non-profit 501(c)(3) organizations that received grants an aggregate total of $192,500 from the California Foundations for Stronger Communities with funds donated by the CMFA.
The deserving organizations include:
Clinic by the Bay is San Francisco’s Volunteers in Medicine clinic which provides free health care for working uninsured adults residing in the Excelsior neighborhood, in Visitacion Valley, Portola, and in Daly City.
George Mark House provides cutting-edge, interdisciplinary medical and psychosocial services to children facing life-limiting illness.
Jewish Family Resource Center provides a wealth of social and emotional services including Senior Care, Mental Health Counseling, Family & Youth Services and Refugee & Immigrant Services.
Lotus Bloom Family Resource Center is a youth development program located in Oakland, CA. Their innovative program empowers their diverse population to realize their full potential. The center provides art, music, and literacy activities which are all designed to promote language development and early learning experiences.
Mustard Seed School is a free, private school for homeless children ages 3 to 15 years old. They provides a safe, nurturing environment, a positive learning experience, survival resources, immunization updates, counseling, and assistance entering and reentering public schools.
Alpha House provides a safe and nurturing environment for battered and homeless women and their children in Kern County, CA.
Elite Soccer is a competitive soccer league in Southern Orange County. Our donation allows low-income youth athletes to participate in the program.
Fairytale Town – Located in Sacramento, CA, Fairytale Town is home to 3-dimensional play sets based on favorite fairytales and nursery rhymes, farm animals, and performing arts stages. Our donation will fund a Children’s Theatre Program that will bring Fairytale Town to underserved schools.
Friends of San Pasqual Academy – Located in Escondido, CA, San Pasqual Academy provides foster youth with a stable, caring home, quality education and independent living skills.
Operation Help a Hero is dedicated to the well-being and care of our American military members. Their programs support military units and families as they prepare for separation, while they endure the challenges of deployment, and as they transition back to the United States.
TELACU Educational Foundation – In addition to financial aid, the Foundation provides a support system to underprivileged students dreaming of a college degree.
Daniel Hernandez Youth – Conducted jointly with the California Department of Fish & Game Daniel Hernandez Youth provides fishing and environmental education programs to underprivileged youth.
Lytle Creek Senior Center – Provides a comfortable atmosphere for senior citizens in San Bernardino, CA. The center plays host to craft & hobby meetings, Scrabble, cards & Bunco games, and community meetings related to senior citizens issues, senior citizens advocate, social events and serves as the area polling place.
National Veterans Transition Service assists outgoing military personnel make a successful transition from military service to civilian life.
Rainbow Family is a twelve-month residential rehabilitation program structured to provide restoration for women and children. Their 24-hour counseling and supervision creates a climate where residents can succeed.
Rob Dydrek Foundation assists municipalities and non-profits with the design, development, and construction of legal Skate Plazas as well as assists with the creation of community and educational programs that promote and encourage the sport of skateboarding.
Social Model Recovery Systems provides a comprehensive residential drug and alcohol treatment program for women with children in a safe, supportive and nurturing environment. Our donation will be used to provide a play area for the children who live and visit there.
Apr 22, 2013
Tiger Woods Foundation, Inc. promotes college access for underserved youth. One of the Foundation’s primary programs is the Tiger Woods Learning Center. The learning center provides underserved youth in Southern California with an intensive, college preparatory education with a focus on science, engineering, technology and math. The Tiger Woods Learning Center hands-on, interactive instruction allows students grades 5-12 to experience college-access programs and exposes their students to subjects like rocketry, aerospace engineering and marine biology to graphic design and communications. The school’s unique approach allows their students to explore a future in almost any career and recognized the importance of attending college.
Recently, the Foundation selected the CMFA to assist in the refunding of their original tax-exempt variable rate bonds. Proceeds of the bonds had been used to finance the school’s two-story, 35,000-square foot education facility. The Facilities include a multimedia center, an auditorium, classrooms, a computer lab and a student lounge and cafe, among other amenities.
Apr 9, 2013
Recently the CMFA completed a $20,000,000 tax-exempt bond financing for the be.group. Proceeds from the low interest bonds will assist in the acquisition / rehabilitation project of the Casa de la Paloma Apartments. The be.group was founded in 1955 and has focused on creating vibrant communities for seniors. The Casa de la Poloma Apartments is an existing nine-story 167 unit affordable senior citizen and handicapped apartment complex located in the City of Glendale. All 167-units are 1-bedroom units and provide affordable rents to seniors 62 years of age and older and handicapped individuals. A portion of the bond proceeds will be dedicated to the rehabilitation of the complex. ADA upgrades, roofing, new HVAC system improvements and other energy efficiency upgrades. With new exterior paint and waterproofing of decking, landscaping and parking improvements, senior residents will be able to enjoy affordable living for another 55 years.
Apr 9, 2013
Community Housing Works has owned and developed affordable housing in the San Diego region for over 27 years. CHW selected the CMFA to assist them with the acquisition rehabilitation of Los Robles Apartments in the City of Vista. The 39 year-old apartment complex will continue to serve low and very low income residents. The apartments will receive many residential improvements including new kitchen cabinets, countertops, Energy Star appliances, bathroom appliances, interior flooring, hard-wired smoke detectors, new energy efficient windows, and a new roof. In addition, the planned photovoltaic solar system will provide domestic hot water and help further reduce energy costs for the tenants. The property serves very low, low and moderate income residents. With this acquisition the property affordability period will be extend for another 55 years.