The ISRF Program provides financing to public agencies and non-profit corporations, sponsored by public agencies, for a wide variety of infrastructure and economic development projects (excluding housing). ISRF Program funding is available in amounts rangingÂ from $50,000 to $25 million with loan terms for the useful life of the project up to a maximum of 30 years.
Board Approved ISRF Financings
Who Can Apply
Include, but are not limited to any subdivision of a local government, including cities, counties, special districts, assessment districts, joint powers authorities and non-profit corporations (as deemed eligible).
Eligible Projects Include, but are not limited to:
Drainage, water supply and flood control
Educational, cultural and social facilities
Environmental mitigation measures
Goods movement-related infrastructure
Parks and recreational facilities
Port facilities, public transit
Power and communications facilities
Sewage collection and treatment
Solid waste collection and disposal
Water treatment and distribution
Public safety facilities
Industrial, utility and commercial
Sources of Financing Repayment:
Water, sewer and other enterprise revenues
General fund revenues
Other recurring revenues acceptable to IBank
Eligible costs for financing include:
- All or any part of the cost of construction, renovation, and acquisition of all lands, structures, real or personal property.
- Rights, rights of way, franchises, licenses, easements, and interests acquired or used for a project.
- The cost of demolishing or removing any buildings or structures on land so acquired, including the cost of acquiring any lands to which the buildings or structures may be moved.
- The cost ofÂ machinery, and equipment.
- Provisions for working capital.
- Other expenses necessary or incidental to determining the feasibility of any project or incidental to the construction, acquisition, or financing of any project.
- TheÂ cost of architectural, engineering, financial and legal services, plans, specifications, estimates, andÂ administrative expenses.
- Interest prior to, during, and for a period after, completion of construction, renovation, or acquisition, as determined by the IBank.
- Reserves for principal and interest and for extensions, enlargements, additions, replacement, renovations, and improvements.
ISRF Project Map
Locate ISRF projects with our searchable map.
Why Choose ISRF?
Cost-effective: below-market interest rates.
Easy, on-line, fillable applications continuously accepted.
No competitive rating and ranking of applications.
Technical assistance available
No matching funds requirement. May serve as matching funds for other financings.
No federal overlays
How to Apply
Applications are accepted continuously and are available below. WeÂ encourage you to call us before applying. IBank representatives provide technical assistance and work with you throughout the process. IBankâ€™s Board of Directors normally meets each month to consider approval of applications received prior to the meeting date. Check here for board meeting deadlines.
*In order to use this version of the application, you will need to have Adobe Acrobat Reader. The latest version of Acrobat Reader is available to download free fromÂ Â Adobe’s website. Submit completed applications, or questions, via email toÂ LoanProgram@ibank.ca.gov or by mail to P.O. Box 2830 Sacramento, CA 95812-2830.Â Please be sure to download and save the application PRIOR to entering any data.
For more information contact:
California Infrastructure and Economic Development Bank (IBank)
Office Address: 1325 J Street, Suite 1300, Sacramento, CA 95814
Mailing Address: P.O. Box 2830, Sacramento, CA 95812-2830
Telephone: (916) 341-6600