SACRAMENTO—The California Infrastructure and Economic Development Bank (IBank) Board will decide at its next meeting whether to approve $215 million of 501 (c) (3) Conduit Bond financing for the Campus Facilities Improvement Association. Proceeds of the bonds will be used to finance a new 170,000 square foot clinical, training and research facility at UC San Francisco. The new building will house the Child, Teen and Family Center as well as the Department of Psychiatry.
The Board will also consider several other 501 (c) (3) tax-exempt conduit bond financing requests. The Segerstrom Center for the Arts in Costa Mesa is asking the Board to consider refunding $78 million of previous debt that would also establish a debt service reserve fund and pay other expenses related to the issuance of bonds. The Roessler- Chadwick Foundation Group is asking for $18 million to make improvements at Palos Verdes Peninsula middle school, including a new classroom building and a performing arts center. The Painted Turtle, a non-profit co-founded by the late actor Paul Newman, is asking for $10 million to lower debt on previous bonds used for year-round camps for children with life-threatening diseases.
What: IBank Board Meeting
When: November 28, 2017, 2:00 PM
Where: Steinberg Conference Room, 1325 J Street, 17th Floor Sacramento, California 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.
About the 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 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, leverage State and Federal funds and provide loan guarantees and other credit enhancements to small businesses. Find more information on our website.
Gabrielle Stevenson
Public Information Officer
Email Gabrielle, HERE
