The California Infrastructure and Economic Development Bank (IBank) was created in 1994 to finance public infrastructure and economic development that promote a healthy climate for jobs, contribute to a strong economy and improve the quality of life in California communities. IBank operates pursuant to the Bergeson-Peace Infrastructure and Economic Development Bank Act contained in the California Government Code Sections 63000 et seq. IBank is located within the Governor's Office of Business and Economic Development and is governed by a five-member Board of Directors.
IBank has broad authority to issue tax-exempt and taxable revenue bonds, provide financing to public agencies, provide credit enhancements, acquire or lease facilities, and leverage State and Federal funds. IBank's current programs include the Infrastructure State Revolving Fund (ISRF) Loan Program, Statewide Energy Efficiency Program (SWEEP), 501(c)(3) Revenue Bond Program, Industrial Development Revenue Bond Program, Exempt Facility Revenue Bond Program, Governmental Bond Program and the Small Business Loan Guarantee Program.
IBank extends condolences to the family of Marian Bergeson, co-author of the IBank Act and trailblazing public servant. See IBank Executive Director Statement here.
Request for Public Comment on Conduit Bond Fee IncreasesIBank is considering increasing the fees for Conduit Bond related transactions as shown in the fee schedule at the following link. Please submit any public comment to firstname.lastname@example.org by close of business August 5, 2016.
CLEEN Center at IBank
IBank has established the California Lending for Energy and Environmental Needs (CLEEN) Center to encourage public and private investments. The CLEEN Center also will utilize IBank’s access to capital markets for clean energy and energy efficiency projects. The CLEEN Center at IBank will help drive energy related projects for State and local governments in California through the Statewide Energy Efficiency Program (SWEEP).
IBank is an integral part of protecting California’s (State) environment and vast natural resources by offering financing that helps achieve the State’s greenhouse gas reduction goals. At the same time, IBank will enhance the quality of life our State is known for by promoting and stimulating economic growth, creating clean energy jobs, protecting and caring for the environment and revitalizing communities.
Latest News & Announcements
- IBank Board meetings scheduled for July 26 and August 23, 2016, have been cancelled. The next IBank Board meeting will be held Tuesday, September 27, 2016, at 2:00 PM, at 1325 J Street, 17th Floor in the Steinberg Conference Room, Sacramento, CA 95814. Board Meetings are open to the public. Please be sure to have your government issued identification (driver's license) with you for entry into the building.