Mar 17, 2017
The CMFA continues to give back to the communities in California by directing a portion of its issuance fees to charitable organizations. Nine 501(c)(3) organizations received $190,000 total in contributions from the California Foundation for Stronger Communities with funds donated by the CMFA.
The nine well-deserving organizations include:
Desert Hot Springs Library
Mini Therapy Horses
Golden Rays Senior Citizens of Sierra County, Inc.
Mariposa Safe Families Incorporated.
National Forest Foundation. Restricted to the Tahoe Basin Project.
Lassen Family Services, Inc.
Dan Hernandez Youth Foundation.
Mar 17, 2017
The CMFA issued $4,700,000 in tax-exempt bond proceeds to Volunteers of America in order to refund the outstanding California Municipal Finance Authority Insured Revenue Bonds (Southern California Development Corporation of VOA, Inc.), Series 2011, issued to make a loan to the Corporation to finance the acquisition, renovation and equipping of two buildings located at 2300-2301 East 7th Street, National City, California, to be operated as a residential facility for treatment and recovery of alcohol and drug addiction, replacing three separate leased facilities in the City of San Diego and to prepay a taxable bank loan from California Bank and Trust incurred to finance additional expenses related to the Project
Feb 23, 2017
The CMFA issued $394,815,000 to the Community Medical Centers. The proceeds of the Bonds will be used to finance and/or reimburse the prior payment of a portion of the costs of constructing and equipping a 100,000 square foot regional cancer treatment and research center, which will be located on the campus of Clovis Community Medical Center and prepay previously executed certificates of participation.
Feb 17, 2017
The CMFA issues $25,000,000 in tax-exempt bond proceeds for Eden Housing. The proceeds will be used to finance the Miraflores Senior Apartments, a new construction project that will consist of 80 units of affordable senior housing. Fifty percent of the units will be built out to meet ADA accessibility needs. The project is fully affordable and all units will all be restricted to households making 30%, 45% and 50% of Area Median Income. Miraflores will offer amenities such as a community room, computer lab, exercise room, laundry facility and outdoor vegetable garden. The project is located at the corner of South 45th and Florida Street, Richmond, California. This financing will create 79 units of affordable senior housing in the City of Richmond for the next 55 years.
Feb 10, 2017
The CMFA issued $5,500,000 in tax-exempt bonds for BlueGreen Preservation and Development. The bonds were used to finance the Rancho Del Valle Apartments project, a 25-unit affordable multi-family housing development for persons with disabilities and the elderly. Rancho Del Valle is located at 6560 Winnetka Avenue, in the Woodland Hills neighborhood of Los Angeles, California. This financing will preserve 24 units of affordable housing for the City of Los Angeles for another 55 years.
Feb 9, 2017
The International School of the Peninsula (“ISTP”) is an independent, co-educational, non-sectarian bilingual immersion day school with two Nursery – 5th grade programs (French Immersion and Mandarin Chinese Immersion) and an international middle school.
The CMFA issued $7,200,000 in tax-exempt bond financing. The proceeds of the Bonds will be used by the School to: to refinance the Project on the terms and conditions set forth to prepay and retire all the outstanding California Statewide Communities Development Authority Refunding Revenue Bonds (International School of the Peninsula Project) Series 2006, previously issued to finance and refinance the Borrower’s facilities at 151 Laura Lane, Palo Alto, California 94303. The bonds originally issued were used to purchase, renovate, and equip the school’s campus.
Feb 8, 2017
The CMFA issued $5,500,000 in tax-exempt bonds on February 8, 2017. The bond proceeds will be used to finance the Maple Park Apartments project is an acquisition/rehabilitation of a 25-unit affordable multi-family housing development for persons with disabilities and the elderly. The building consists 24 one-bedroom units and 1 two-bedroom manager’s unit. Maple Park is located at 711 E. Maple Avenue, Glendale, 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, elevator cab improvements, parking area improvements and paint. This financing will preserve 24 units of affordable housing for the City of Glendale for another 55 years.
Jan 20, 2017
The CMFA issued 23,000,0000 to the Linfield Christion School. The proceeds of the Bonds will be used to refinance outstanding indebtedness of the Borrower incurred to finance and refinance the construction, acquisition, installation, renovation, rehabilitation and improvement of real property, facilities, equipment and improvements of the Borrower’s educational facilities located on its campus located at 31950 Pauba Road, Temecula, California 92592.
Jan 17, 2017
The CMFA issued $7,864,000 in tax-exempt bond proceeds to LINC Housing for the construction of a new affordable housing project. The Diamond Court Apartments project is a new construction of a 45-unit affordable multi-family housing development consisting of 5 two story buildings on 2.27 acres. The project site is an infill location. The project accommodates families with unit sizes of one, two, and three bedrooms located at Diamond Street, Anderson, CA. Five of the units will be built as accessible, and 2 units will have auditory and visual communications features.
Jan 11, 2017
The CMFA issued $203,800,000 in tax-exempt bonds for the NorthBay Healthcare Group. Proceeds of the Bonds will be applied to finance the renovation and expansion of NorthBay Medical Center, including equipping of the renovation and expansion, located at 1200 B. Gale Wilson Boulevard, Fairfield, California, and the renovation of certain related health care facilities, known as Gateway Medical Plaza, located at 1860 Pennsylvania Avenue, Fairfield, California, each of which is owned and/or operated by the NorthBay Obligated Group.
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