Apr 9, 2013
Eden Housing, Inc. is recognized by Affordable Housing Finance as one of the Top 50 Affordable Housing Developers and Owners in the Nation. Recently Eden Housing partnered with the CMFA on the acquisition / rehabilitation of six of their east bay complexes. Six locations and a total of 278 units scattered throughout Hayward, San Leandro and Fremont will be refurbished and improved as a result of the over $40 million tax-exempt financing issued by the CMFA. Many of the sites will receive ADA-compliant upgrades, waterproofing, energy efficient window and door replacements, carpet and new flooring and kitchen upgrades.
Apr 9, 2013
Burbank Housing Development Corporation is a nonprofit organization dedicated to increasing the supply of housing in Sonoma County. Their goal is that one day low-income people of all ages, backgrounds, and special needs will have a better opportunity to live in decent and affordable housing. Burbank Housing recently selected the CMFA to assist them with the acquisition rehabilitation of Round Walk Village Apartments. Located in northeast Petaluma, Round Walk Village Apartments consists of 129-unit multi-family affordable rental units.
Mar 26, 2013
For 40 years, San Ysidro Health Center has been the leader in the provision of low-cost, high quality, comprehensive primary care services to the culturally diverse residents of San Diego County’s South Bay Region. Medical experts consider San Ysidro Health Center a national leader in preventative health care. Recently San Ysidro Health Center turned to the CMFA when it came time to finance their many facilities with long term, low cost tax-exempt financing. Proceeds were used to acquire and rehabilitate several sites used in the delivery and administration of their high quality comprehensive care, renovate and improve their adult day care facility and improve parking.
Mar 26, 2013
Established in 1968, EAH Housing is one of the largest and most respected nonprofit housing development and management organizations in the western United States. Award-winning EAH develops low-income housing, manages over one hundred properties in California and Hawaii.
Recently, EAH selected the CMFA to finance the Kings Valley Senior Apartments located in Cloverdale, CA. Constructed in the mid-1970’s, Kings Valley is a 99 unit Senior Apartment complex. The complex consists of 4 buildings and community center all situated on over 10 acres. All of the buildings will receive needed exterior and interior repairs and upgrades. Planned improvements include new roofs, windows, sliding glass doors, lighting and replacement of the HVAC systems. In addition, there will be ADA upgrades to parking and some of the units.
Mar 18, 2013
Santa Monica-based, New Roads School recently closed a partial refunding of bonds with the CMFA. The refunding broadens the school’s financing options for further campus expansion. New Roads School is a college preparatory school founded in 1995. The school is home to over 600 middle school and high school students in the West Los Angeles area. At New Roads School, education is viewed not as a race for the accumulation of facts, but as an opportunity for students to develop habits of mind and character, to nurture an ever expanding awareness of the human situation, and to acquire the tools needed for effective personal and moral participation.
Mar 11, 2013
Award-winning, Bridge Housing Corporation is one of the country’s premier developers of affordable housing and master planned developments. Recently Bridge Housing selected the CMFA as their issuer on a new development in West Sacramento. The project known as Bridge Triangle Family Apartments will serve 70 families with low and very low income.
The City of West Sacramento has been very supportive of the project. City officials expressed their excitement for the project and anticipate that the innovative design and green features will set the standard for future building in the West Sacramento Triangle Development. The development district is bounded by the Capital City freeway, the Sacramento River and Raley Field, a Triple-A ballpark that is home to the West Sacramento River Cats.
Mar 11, 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 $20,000 from the California Foundations for Stronger Communities with funds donated by the CMFA.
The deserving organizations include:
Asian Pacific Islander Small Business Program assists the development of small and micro businesses in Los Angeles. The non-profit primarily works with low-income immigrants from the Chinese, Korean, Japanese, Thai and Filipino business community. The program is designed to overcome barriers to growth, .help these budding entrepreneurs build a sustainable business model and create jobs.
Herald Christian Health Center is a non-profit licensed community clinic with a mission to provide quality, affordable, culturally and linguistic appropriate and holistic health care services to the low income, uninsured and underserved people residing in the San Gabriel Valley.
The Khmer Arts Academy features a professional touring ensemble, a research and archiving program and a media program, in addition to the community-based academy where young students can receive free workshops in Cambodian classical dance.
The Korean Resource Center was founded in 1983 to empower Korean American community, low-income immigrant and people of color communities through a holistic model that combines education, social services, and culture with effective community advocacy and organizing. KRC is guided by the principles Live Rightly, Know our Roots, Empower Ourselves, and Live in Harmony.
Marina Village Middle School Jazz Band – The jazz band at Marina Village Middle School is a group of 25-30 talented seventh and eighth grade students who have committed their extra time beyond the school day to further their music ambitions. The donation will be used to acquire instruments, music supplies, and offset costs related to performing at events and/or competitions.
The United Cambodian Community is a multicultural social services agency, serving the greater Long Beach community. The organization assists the refugee and immigrant population in making adjustments and to help bridge the gap between cultures, languages and generations.
Feb 26, 2013
The CMFA recently closed a $17.1 million financing for non-profit developer South County Housing Corporation. Proceeds from the tax-exempt bonds will be used to construct a new 107 unit affordable housing project known as University Village. It will be located on the former Fort Ord Army base and is an integral part of a master planned community in the city of Marina. Families with incomes at or below 50% Area Median Income will enjoy a high quality of life with easy access to shopping, theatres, parks and other community services. The complex will offer residents after school programs for the children and educational classes in health, wellness and skill building for adults.
Feb 18, 2013
The YMCA of Silicon Valley was founded in 1867 when the YMCA Santa Clara was created as a refuge for young people. Today, the organization is the 15th largest YMCA in the nation and serves members from communities as far as Gilroy in the south to Redwood City in the north along the Pacific Coast. From its’ 10 physical locations, two camps and 70+ affiliated sites the Corporation offers a wide range of programs and services to enable people to live healthier lifestyles. Their wellness-based programs focus on exercise, nutrition, stress management, health education, therapeutic activities, avoidance of drug and alcohol abuse, chronic disease prevention and management and other specialized needs. A lifelong progression of health related activities, experiences, and education is offered for all ages and abilities, and also encourages participants to give back and help strengthen their community.
This valuable community partner recently chose the CMFA as Issuer for a $14.5MM bond issue. Proceeds were used to assist in the purchase and renovate a new corporate headquarters building. In addition, proceeds were used to refinance existing indebtedness and fund improvements to their other locations through Santa Clara Valley.
Jan 3, 2013
Founded in 1967, the Nueva School is a nationally recognized independent school currently serving high-ability students in pre-kindergarten through eighth grade at the Hillsborough, CA campus. Recently, the private school secured $40.0 million in tax-exempt bond financing through the CMFA. Proceeds will be used to construct a new high school campus located in the Bay Meadows Development.
The Nueva School plans to expand its curriculum to include high school beginning with 9th grade in September 2013 at a temporary location. The high school will add one grade level annually through the twelfth grade and will relocate in September 2014 to its permanent location in Bay Meadows. Along with the private high school, the master planned development includes residential home sites, LEED-certified office buildings, a traditional town square and main-street retail space. All will be highly accessible to local transportation and easy freeway access.
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