About UsThe California Infrastructure and Economic Development Bank (IBank) was created in 1994 to finance public infrastructure and private 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) Program, 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.
Introducing the Clean Energy Finance Center
IBank is pleased to announce the introduction of its Clean Energy Finance Center (CEFC). Approved by the Board of Directors on September 23, 2014, IBank has established the CEFC which will encourage concerted public and private investments and utilize IBank's access to capital markets for selected clean energy and energy efficiency projects. The IBank CEFC will help to drive energy related projects for State and local governments in the State of California by creating a scalable program, referred to as the Statewide Energy Efficiency Program (SWEEP) to operate under the CEFC.
The delivery of the CEFC resulted from IBank's numerous discussions and engagements with environmental leaders, State agencies, legislators, financial advisers, investors, underwriters, universities and other stakeholders regarding capital-raising and investment vehicles for infrastructure and economic development projects with significant benefits for protecting the environment, conserving natural resources and reversing climate change.
Latest News & Announcements
The next meeting of the IBank Board is scheduled for Tuesday, November 18, 2014, at 2:00 p.m. Board Meeting are open to the public.
IBank has revised its Criteria, Priorities and Guidelines for loans made under its Infrastructure State Revolving Fund Program (“ISRF Program”). The revised version of the ISRF Program Criteria, Priorities and Guidelines (“ISRF Criteria”) can be obtained by clicking here. And the interest rate setting methodology can be accessed here.
The IBank Board is pleased to announce the approval of an $8.4 million loan to the B Street Theatre for the construction of a new downtown theatre complex. B Street is the first nonprofit to take advantage of a recent overhaul of the IBank's Infrastructure State Revolving Fund Loan Program lending criteria. To listen to the Insight Capitol Public Radio Interview with Bill Blake, B Street Theatre Managing Director, please click here. Find more news on the B Street Theatre's loan approval by visiting our newsroom.
Locate IBank funded projects by category, borrower or geographic location throughout the State with our searchable project mapping tool. Click here!