Oct 23, 2017
The EE Cleveland Manor Apartments project is an acquisition/rehabilitation of a 54-unit affordable multi-family housing development for the elderly. The project is made up of 13 studio apartments, 40 one-bedroom and one 2-bedroom manager’s unit. EE Cleveland Manor is located at 2611 EC Reems Court, Oakland, California. The rehabilitation will include upgrading air conditioning and heating units, mechanical and electrical. Interior upgrades will include new kitchen and bathroom equipment, new cabinets, new kitchen surfaces, new flooring, paint and new window treatments. Exterior upgrades will include replacement of certain patio covers, widening of common area pathways, common area lighting, improvements to community areas, parking area improvements and paint. This financing will preserve 53 units of affordable housing for the City of Oakland for another 55 years.
Oct 12, 2017
The CMFA recently issued $2,140,000 in tax-exempt financing for OPTIONS Family of Services. The proceeds of the Bonds will be used to provide for the refunding for outstanding Revenue Bonds, the proceeds of which were used to refinance debt incurred to finance improvements to the following facilities: (a) Allegro (9180 Barranca, Atascadero), (b) Atascadero ICF (8020 Coromor, Atascadero), (c) Morro Bay ICF (490 Bernardo, Morro Bay), (d) SLO (1693 McCollum, San Luis Obispo), (e) Sonata (5755 Valentina, Atascadero), (f) Alvin (937 West Alvin, Santa Maria), and (g) Mariposa (4087 Hillview, Santa Maria), in connection with its residential, day program and crisis services to people with developmental disabilities.
Oct 6, 2017
PACE (Property Assessed Clean Energy) is an innovative program that provides residential and commercial property owners with low-cost, long-term financing for water conservation, energy efficiency, and renewable energy improvements. All while helping local governments meet their water and energy conservation objectives.
The CMFA recently issued $3,360,321 in residential PACE bonds.
Oct 6, 2017
The Monterra Village Apartments is an existing project located in Gilroy on a 2.38-acre site. The project consists of 33 restricted rental units and 1 unrestricted manager’s unit. The project provides 14 two-bedroom units, 16 three-bedroom units and 4 four-bedroom units. Building exterior renovations will consist of roof replacement, siding and balcony/deck repair and new paint. Interior renovations will include upgrades to the community room and kitchen, installation of a solar photovoltaic system as budget allows, and upgrades to the HVAC, plumbing and electrical systems. Individual apartment units will be updated with replacement of lighting, flooring, cabinets, countertops, kitchen appliances and bathroom ventilation fans. The rehabilitation of this project will provide affordable living in the City of Gilroy for an additional 55 years.
Oct 6, 2017
The CMFA issued $16,000,000 in tax-exempt bonds for North Richmond to Finance Affordable Housing to finance the acquisition and rehabilitation of the Barrett Plaza Townhomes.
The Barrett Plaza Townhomes is an acquisition rehabilitation of a 58-unit, affordable multi-family housing development consisting of two and three-story townhomes. The project was developed in 1975 and needs significant rehabilitation. The project has 46 three bedroom units, 11 four bedroom units, and one manager’s unit. It consists of 14 two-story buildings, containing between three and six units each. Parking is provided in uncovered surface lots that are fenced and equipped with power operated gates. The physical needs assessment concluded that multiple items need to be replaced such as furnaces, exhaust fans, water heaters, stucco patio walls and retrofitted windows. Full rehabilitation of the interior of 49 units including new flooring, bathroom fixtures, bathroom and kitchen cabinets, etc. New landscaping for grounds is also needed. The project is located at 510 Barrett Avenue, Richmond, California. This financing will continue to preserve 57 units of affordable housing in the City of Richmond for the next 55 years.
Sep 26, 2017
PACE (Property Assessed Clean Energy) is an innovative program that provides residential and commercial property owners with low-cost, long-term financing for water conservation, energy efficiency, and renewable energy improvements. All while helping local governments meet their water and energy conservation objectives.
The CMFA recently issued $3,333,090 in residential PACE bonds.
Sep 19, 2017
The proceeds of the bonds will be used to refinance the Authority’s outstanding Revenue Bonds, Emerson College Issue, Series 2011, the proceeds of which were loaned to the Borrower to finance the acquisition, construction, furnishing and equipping of a 10-story, approximately 118,000 square foot mixed-use building containing classrooms and administrative office space, 220 student housing rooms containing 220 beds, four faculty apartments, ground floor retail space, 158 bicycle spaces and a 245-space parking garage with three levels of subterranean parking owned and operated by the Borrower and located on 37,350 square feet of land at 5960 West Sunset Boulevard, Los Angeles, California.
Sep 15, 2017
The Hillcrest Christian School (dba Heritage Christian School) will enter into a plan of finance, to finance and refinance educational facilities, including related administrative facilities, site improvements, and parking, including but not limited to new construction, renovation, improvement and equipping of facilities located on the Corporation’s north campus at 17531 Rinaldi Street, Granada Hills, California 91344 (the “North Campus”), and on the Corporation’s south campus at 9825 Woodley Avenue Northridge, California 91343 (the “South Campus”), including upgrades to parking lots on the North Campus and the South Campus; and upgrades to the floor and bleachers of the gymnasium on the South Campus. The proceeds will also be used for refinancing existing indebtedness that was issued in 2003 and prior years for the acquisition, construction, renovation, improvement and equipping of facilities on the North Campus, the South Campus and on land adjacent to the North Campus.
Sep 7, 2017
The proceeds of the Bonds will be used for the construction of the the Bow Street Apartments II, a new construction project located in the City of Elk Grove. The project will consist of 98 units in four residential buildings and one community building with 48 units utilizing 4% tax credits and the remaining units utilizing 9% tax credits. The 48 units are comprised of 12 one-bedroom units, 24 two-bedroom units, and 12 three-bedroom units. The project will target families earning 50% and 60% of area median income. The project will incorporate a number of amenities including 84 hours per year of adult education health and wellness classes, as well as additional health and wellness services and programs. This portion of the development will provide the city of Elk Grove with 48 much needed units of affordable housing for the next 55 years.
Sep 5, 2017
PACE (Property Assessed Clean Energy) is an innovative program that provides residential and commercial property owners with low-cost, long-term financing for water conservation, energy efficiency, and renewable energy improvements. All while helping local governments meet their water and energy conservation objectives.
The CMFA recently issued $3,333,090 in residential PACE bonds in September.
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