‘Significant Financings’ or Putting it on the State’s Credit Card

Editor’s Note: Make no mistake about it, these bonds and “financings” are putting debt on the State’s Credit Card. One day, they will have to be paid back.  Oh well, like Scarlet, let’s think about that tomorrow. 

Treasurer John Chiang oversees several boards, commissions and authorities that award financing, tax credits, grants, loans, and other benefits aimed at promoting school projects, health care facilities, sustainable economic development and housing. Below is a summary of significant projects approved in June 2015.

 

Education
Approval Date Recipient Name Type Amount City Authority*
7/8/2015 KLARE Holdings Revenue Bond $80,000,000 Los Angeles CSFA
7/7/2015 University of Southern California Standard Bond Financing $975,355,000 Los Angeles CEFA
7/21/2015 Chapman University Standard Bond Financing Not available Orange CEFA
7/8/2015 River Springs Charter School Revenue Bond $38,000,000 Temecula CSFA
7/30/2015 Santa Clara University Bond $125,000,000 Los Angeles CEFA
Health
Approval Date Recipient Name Type Amount City Authority*
7/30/2015 Bi-Bett Corporation Help II Loan Program $693,545 Oakland CHFFA
7/30/2015 AltaMed Health Services Revenue Bond $130,000,000 Los Angeles / Anaheim CHFFA
7/30/2015 Lomi School Foundation Help II Loan Program $330,000 Santa Rosa CHFFA
Sustainability and Economic Development
Approval Date Recipient Name Type Amount City Authority*
7/21/2015 Vanderham Family Trust and/or its Affiliates and Koetsier & Son Dairy and/or its Affiliates Bond $2,000,000 Riverdale CPCFA
7/21/2015 Hi Shear Corporation Sales and Use Tax Exclusion $39,385,000 Torrance CAEATFA
7/21/2015 Las Gallinas Valley Sanitary District Sales and Use Tax Exclusion $788,757 San Rafael CAEATFA
7/21/2015 Aemerge, LLC / RedPak Services SC, LLC Bond $22,475,000 Hesperia CPCFA
Housing
Approval Date Recipient Name Type Amount City Authority*
7/15/2015 California Municipal Finance Authority Bond $4,480,000 Eureka CDLAC
7/15/2015 California Municipal Finance Authority Bond $20,300,000 Oakland CDLAC
7/15/2015 County of Alameda Bond 17,400,000 Dublin CDLAC
7/15/2015 California Statewide Communities Development Authority Bond $9,100,000 Duarte CDLAC
7/15/2015 California Statewide Communities Development Authority Bond $10,530,000 Pasadena CDLAC
7/15/2015 California Municipal Finance Authority Bond $14,000,000 Los Angeles CDLAC
7/15/2015 California Municipal Finance Authority Bond $21,000,000 Bellflower CDLAC
7/15/2015 California Municipal Finance Authority Bond $65,000,000 Greenfield CDLAC
7/15/2015 Housing Authority of the City of Anaheim Bond $13,145,330 Anaheim CDLAC
7/15/2015 California Municipal Finance Authority Bond $28,000,000 March Air Reserve Base CDLAC
7/15/2015 California Municipal Finance Authority Bond $28,000,000 Chino CDLAC
7/15/2015 California Statewide Communities Development Authority Bond $9,300,000 Chino CDLAC
7/15/2015 California Municipal Finance Authority Bond $1,000,000 San Marcos CDLAC
7/15/2015 City of San Jose Bond $48,000,000 San Jose CDLAC
7/15/2015 City of San Jose Bond $23,750,000 San Jose CDLAC
7/15/2015 California Statewide Communities Development Authority Bond $88,000,000 Gilroy CDLAC
7/15/2015 California Municipal Finance Authority Bond $1,000,000 Simi Valley CDLAC
7/15/2015 City of Oceanside Mortgage Credit Certificate Program $1,123,400 Oceanside CDLAC
7/15/2015 California Housing Finance Agency Mortgage Credit Certificate Program $200,000,000 Sacramento CDLAC
7/15/2015 Dublin Family Apartments Bond $1,289,735 Dublin CTCAC
7/15/2015 Marcus Garvey / Hismen Hin-Nu Acquisition and Rehabilitation Projects Bond $1,264,520 Oakland CTCAC
7/15/2015 Duarte Manor Apartments Bond $357,180 Duarte CTCAC
7/15/2015 Northwest Manors II Bond $477,490 Pasadena CTCAC
7/15/2015 Bellflower Friendship Manor Bond $1,032,050 Bellflower CTCAC
7/15/2015 Terracina Oaks II Apartments Bond $440,943 Greenfield CTCAC
7/15/2015 Pebble Cove Bond $708,505 Anaheim CTCAC
7/15/2015 March Veterans Village Bond $1,314,580 March Air Reserve Base CTCAC
7/15/2015 Vista Park Chino Apartments Bond $381,019 Chino CTCAC
7/15/2015 Alexander Station Bond $4,001,768 Gilroy CTCAC
7/15/2015 Town Park Towers Bond $2,624,904 San Jose CTCAC
7/15/2015 Canoas Terrace Apartments Bond $975,077 San Jose CTCAC

*Authorities which the State Treasurer chairs: California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA), California Debt Limit Allocation Committee (CDLAC), California Educational Facilities Authority (CEFA), California Health Facilities Finance Authority (CHFFA), California Pollution Control Financing Authority (CPCFA), California Schools Finance Authority (CSFA), and California Tax Credit Allocation Committee (CTCAC).

See raw data: Financing numbers broken out by state legislative district

 

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