Projects Financed by IBank Loans

IBank’s Infrastructure State Revolving Loan fund has made it possible for communities throughout the state of California to create, expand and strengthen core services such as waste water treatment plants, airports, city streets and more. Check out some of the projects that have used IBank loan financing programs. View recent ISRF Interest rates. 

City of San Diego

City of San Diego

The city of San Diego will use the funds for an organic waste processing facility that will assist the city in complying with state requirements to divert organic material from landfills. The Miramar Greenery organic waste processing facility will construct a new…

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Sacramento County

Sacramento County

Sacramento County will use the funds to build the North Area Recovery Station Commercial Waste Transfer Building project in North Highlands. The project will include the construction of a new 62,000 square foot commercial waste transfer…

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City of Encinitas

City of Encinitas

The City of Encinitas will use the funds for a project that will preserve and revitalize the North Coast Highway 101 Corridor and improve access and safety for drivers, bicyclists, and pedestrians. The Leucadia Streetscape project will include…

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City of Laguna Beach

City of Laguna Beach

The City of Laguna Beach will use the funds for a project that will protect the health of residents, help keep beaches open for 6 million beachgoers each year, and help prevent sewer spills into the ocean with Phase One…

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City of Escondido

City of Escondido

The City of Escondido will use the financing to provide a more reliable and efficient water and storage system to its residents, businesses and farmers. In an attempt to improve the safety, reliability and quality of water, the City…

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City of Laguna Beach

City of Laguna Beach

The City of Laguna Beach will use the funds for the Coastal Treatment Plant Facility Improvement Project. The rehabilitation of the aging infrastructure is critical to the protection of the local coastal environment. The Project will…

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Las Gallinas Valley Sanitary District

Las Gallinas Valley Sanitary District

The Las Gallinas Sanitary District was established in April 1954 and serves more than 30,000 customers through wastewater collection, treatment, curbside recycling, solid waste, yard waste and food scraps hauling in addition to…

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County of Santa Cruz Sanitation District

County of Santa Cruz Sanitation District

The County of Santa Cruz Sanitation District will use the funds to upgrade and replace sewer lines located within the City of Capitola. The project will extend the life of the sanitary sewer system, reduce immediate repair and maintenance…

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City of Twentynine Palms

City of Twentynine Palms

The City of Twentynine Palms will use the funds for a project that will provide energy efficiency upgrades to various City owned sites including City Hall, Parks and Recreation facilities and other City-owned buildings. The project will…

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City of La Canada Flintridge

City of La Canada Flintridge

The City of La Cañada Flintridge will use the funds for the Civic Center Renovation Project. The City will renovate and then occupy the building after making updates to improve energy efficiency and accessibility. The upgrades include…

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City of Paramount

City of Paramount

The City of Paramount will utilize the funds to increase its potable water pumping capacity, reliability and efficiency through the construction of a new water well and associated pipeline improvements. Along with the new well, the project…

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Sonoma County Airport

Sonoma County Airport

Sonoma County will use the funds to improve current areas of the airport passenger terminal, as well as to pay design and engineering costs of future improvements. Proceeds will also fund the construction of approximately…

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City of Laguna Beach

City of Laguna Beach

Financing through IBank’s Infrastructure State Revolving Fund Program will enable the City of Laguna Beach to rehabilitate and replace deteriorated and over-capacity sewer mains, and replace approximately 16,600 linear feet of two…

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Placentia Library District of Orange County

Placentia Library District of Orange County

The library district will use this funding to make several improvements to the Placentia Library, including retrofitting the interior lighting, replacing aging HVAC equipment, and installing a solar photovoltaic…

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City of Ukiah

City of Ukiah

The funds are to make traffic and pedestrian improvements in Redwood Business Park and on the US 101 freeway ramp at Talmage Road and Airport Park Blvd to reduce accidents and ease congestion. The project will attract new businesses…

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Pico Water District

Pico Water District

The funds are intended to replace an existing water well established in 1929. The new energy efficient well will bolster the District’s groundwater production, which is its only source of drinking water. In addition to reducing electrical costs…

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City of Redlands

City of Redlands

The loan goes toward a second portion of Redlands Streets Project that includes approximately 27 lane miles of the City’s Pavement Accelerated Repair Implementation Strategy (PARIS). IBank approved $3,050,000 for the first tranche of…

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San Luis Obispo County

San Luis Obispo County

Funds are for construction of a new airport passenger terminal at the San Luis Obispo County Regional Airport. IBank financed public areas of the facility that will include a communications/technology room, Emergency Operations Center…

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City of Santa Cruz

City of Santa Cruz

The loan funds a portion of the Safe and Reliable Drinking Water Project that will include the replacement, rehabilitation and upgrading of the water system including pipelines, wells, water treatment plant, treated water storage reservoir…

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Pico Water District

Pico Water District

Pico Water District’s Infrastructure Replacement Project relieves water pressure inadequacies. A vital part of the Pico Water District’s Master Plan, the project will replace more than 31,000 feet of pipe and install 5 new fire hydrants. The project…

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Coastside County Water District

Coastside County Water District

The Coastside County Water District in San Mateo County is dependent on a reliable water supply for residential, floriculture and commercial use. The loan proceeds will be used to upgrade the water systems in Half Moon Bay and surrounding…

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City of Alameda Financing Authority

City of Alameda Financing Authority

Proceeds will be used by the Alameda Fire Department to replace Fire Station 3 with a new state of the art firehouse, and to construct the first stand-alone Emergency Operations Center in the history of Alameda. The two new…

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City of Santa Cruz

City of Santa Cruz

The City-wide Road Improvements Project will rehabilitate deficiencies in more than 1,020 miles of road throughout Santa Cruz. The upgraded roads are expected to improve safety for vehicle and pedestrian traffic, transportation avenues…

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City of San Gabriel

City of San Gabriel

The Accelerated Great Streets Program Project will upgrade roads in major economic areas of San Gabriel. Benefits from the project will include improved safety for vehicle and pedestrian traffic, increased property values, revitalization of…

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City of Pittsburg

City of Pittsburg

The City of Pittsburg’s 32 million gallon-per-day water treatment plant ensures that the water distributed by the City is of the highest quality possible and meets or exceeds all state and federal health standards. Proceeds from the loan will…

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City of Redlands

City of Redlands

Redland’s Pavement Accelerated Repair Implementation Strategy (PARIS Project) will upgrade more than two-thirds of all of Redland’s streets. The loan will fund the rehabilitation of approximately 40 miles of public streets located in major…

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Related links:   Infrastructure (ISRF Program) Loans  |  ISRF Loan Eligibility  |  ISRF Loan Criteria  |   ISRF Financing Documents

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Fariba Khoie

Fariba Khoie

Bond Unit Manager

Fariba Khoie is the Bond Program Manager at California Infrastructure and Economic Development Bank (IBank). She joined IBank in 2014. Fariba is responsible for IBank conduit bonds sales, including Industrial Development Bonds, Exempt Facility Bonds, 501 (c) (3) Bonds, Public Agency Revenue Bonds, and Infrastructure State Revenue Fund Bonds. In addition, she manages continuing disclosure reports; reviews and monitors tax arbitrage reports and prepares annual surveillance reports to rating agencies.

Fariba brings vast experience to IBank from the State Treasurer’s Office where she served as a Treasury Program Manager. While there, she managed various municipal bonds sales, including Economic Recovery Bonds, General Obligation and Revenue Bonds for the Department of Veterans Affairs and Public Works Board. Fariba also managed Pooled Money Investment Account loans and Guaranteed Investment Agreements among other responsibilities. Before that, Fariba worked at the Department of Water Resources with Power Bonds and the Swap Portfolio. At the Department of Transportation she performed various accounting and fiscal duties. Fariba also has a wealth of experience in banking and financial analysis.

Fariba holds an MBA Degree in Finance from California State University Sacramento as well as a Bachelor’s of Science Degree in Statistics from Shiraz University in Iran. She is a member of National Federation of Municipal Analysts.

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John Belmont

John Belmont

Public Finance Specialist

John Belmont is a Public Finance Specialist, Bond Unit, at IBank. John joined IBank in July of 2007. John is responsible for coordinating conduit bond sales and post bond issuance compliance.

Prior to his current role, John spent several years in the financial services industry and was Assistant Vice President, Business Development, for a local community bank. John also served as a loan officer for the U.S. Small Business Administration, Disaster Assistance Program. John holds a Bachelor of Science in Business Administration from California State University, Hayward, and an MS Marketing degree from Golden Gate University, San Francisco.

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Steven Wright

Steven Wright

Staff Loan Officer, Loan Origination Unit

Steven Wright is a Staff Loan Officer in the Loan Origination Unit. Steven reviews, analyzes, and processes loan requests for various state and local government entities, private enterprises, and nonprofit organizations.

Prior to his current role, Steven served as a Budget Officer with the California Department of Food and Agriculture where he oversaw several program budgets and personnel operations. Steven earned his Bachelor’s degree in Business Management and Master’s degree in Agricultural Business from Alabama A&M University.

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Lina Moeller

Lina Moeller

Loan Origination Manager

Lina Moeller is the Loan Origination Manager for the California Infrastructure and Economic Development Bank (IBank) and manages the direct lending programs – the Infrastructure State Revolving Fund (ISRF) Program, and the California Lending for Energy and Environmental Needs (CLEEN) Center direct lending financing.

Lina joined IBank in January 2016, and is responsible for managing and directing all credit and loan underwriting activities for the Loan Origination Unit.  Lina conducts extensive outreach at conferences and expos, speaking and presenting on behalf of IBank at various events including California Financing Coordinating Committee (CFCC) events.

Lina has been in the lending industry for over 26 years. Lina started her career working as a credit analyst and underwriter at Community Bank, N.A before joining Bank of America where she held positions from credit analyst, portfolio manager, SBA underwriter, commercial underwriter, to approval officer. Lina also worked as an SBA underwriter at Resource Capital CDC. Prior to joining IBank she was Vice President of Lending at Vision One Credit Union for over seven years.

Lina holds a degree of Master of Business Administration from Wright State University, and a Graduate Finance Certification from Southern Methodist University.

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John Weir

John Weir

Loan Servicing Manager

John Weir is the Loan Servicing Unit Manager for the California Infrastructure and Economic Development Bank (IBank) and manages the servicing and compliance of outstanding direct loans and reconciliation of the loan portfolio.

John Weir joined IBank in 2015 as a Staff Loan Officer in the Bond Financing Unit and later worked in the Loan Origination Unit where he reviewed credit and project eligibility for the direct loan program.

John has been in the lending industry for over 30 years.  He started his career working as a loan officer credit and analyst at various lending institutions before joining Liberty American Mortgage where he held several positions from underwriter, senior credit officer, to V.P. of bulk loan portfolio sales for over three years.  Following years in the private sector, he joined the State of California, working at the State Treasurer’s Office working with the California Debt Limit Allocation Committee and the California Pollution Control Financing Authority.

He graduated with the degree of Bachelor of Science in Finance from California State University, Sacramento.

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Betty Bian

Betty Bian

Loan Officer, Loan Origination Unit

Betty Bian is a Loan Officer in the Loan Origination Unit.

Betty joined IBank’s Loan Origination Unit as an Associate Governmental Program Analyst in February 2020, where she performed analytical and consultative duties and services critical to administering the Infrastructure State Revolving Fund Program (ISRF Program) and the California Lending for Energy and Environmental Needs Center (CLEEN Center) programs.

Prior to her current role, Betty worked 25 years in the banking industry in China. She worked for 8 years with the Royal Bank of Scotland where she served as Branch Compliance Manager; 12 years at Bank of Tokyo-Mitsubishi UFJ where she was the manager of the Planning Department. She also worked at Morgan Stanley Bank International as Head of Compliance. Betty has a master’s degree in Japanese Culture from Beijing Foreign Studies University.

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Richard Nesbitt

Richard Nesbitt

Loan Officer (Loan Origination Unit)

Richard Nesbitt joins the California Infrastructure and Economic Development Bank (IBank) as a Loan Officer in the Loan Origination Unit. Richard performs credit underwriting activities for infrastructure Loan Programs at IBank within the Governor’s Office of Business and Economic Development.

Prior to his current role, Richard served for over four years as a Senior Servicing Officer with California Statewide, an SBA Certified Development Corporation, where he handled Special Assets, Risk Ratings on the loan portfolio and general servicing actions on SBA 504 loans.

Richard has also served as Senior Underwriter and Credit Analyst at Accenture, Underwriter and Analyst at First Northern Bank, and over six years at California Bank and Trust as AVP / SBA Portfolio Representative.

Richard brings 20+ years of experience in lending, managing loan portfolios, maintaining federal compliance regulations, risk analysis, and financial analysis and credit underwriting.

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Stefan Spich

General Counsel

Stefan Spich is the General Counsel for IBank. Prior to joining IBank in 2014, Stefan worked as Staff Counsel for the Drinking Water Program at the California Department of Public Health. Prior to state service he worked as a corporate and business attorney for a local Sacramento firm, and for Baker & McKenzie LLP in San Diego. Stefan earned his law degree from UC Davis King Hall, studied at Eotvos Lorand University in Budapest and holds honors BA degrees in History and Politics from UC Santa Cruz.

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Robin Adams

Robin Adams

Senior Accounting Officer

Robin Adams is a Senior Accounting Officer at IBank.

She has worked in Accounting for the State for 8 years.

Robin holds a BA in Accounting from the University of Arizona and currently in the Masters of Accountancy at the University of Arizona.

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Megan Hodapp

Megan Hodapp

SBFC Program Manager

Megan Hodapp is the manager of the Small Business Finance Center (SBFC) at the California Infrastructure and Economic Development Bank (IBank). Prior to becoming the manager, she served as a Loan Officer in the Small Business Finance Center for 3 years where she assisted California small businesses with accessing capital. The SBFC currently administers the California Small Business Loan Guarantee Program, California Small Business Disaster Relief Loan Guarantee Program, Farm Loan, and Jump Start Loan Program. Megan manages IBank’s partnerships with 7 Financial Development Corporations (FDCs) located throughout the State to encourage small business lending. The programs offer repayment of guarantees on behalf of IBank to financial institutions as incentives to make loans to small businesses that experience capital access barriers. Megan has been serving small businesses in California in a variety of jobs and programs throughout her career. Prior to her career with IBank, Megan was a program analyst for the Office of the Small Business Advocate (OSBA) at the Governor’s Office of Business and Economic Development (GO-Biz) and for the California Capital Access Program (CalCAP) at the State Treasurer’s Office (STO). Megan graduated from California State University Sacramento with a Bachelor of Science degree in Criminal Justice.

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Yana Buryak

Yana Buryak

SBFC Program Specialist

Yana Buryak is a Small Business Finance Center Program Specialist, where she performs results-driven and analytical work, serving the small business communities of California. She analyzes loan guarantee data to produce quantitative reports for Small Business Finance Center, performs program management and builds partnerships with Financial Development Corporations (FDCs).

Prior to her current role, Yana was a Retirement Program Specialist at CalPERS. Prior to her state service, she worked as a mathematics and statistics tutor in the math lab of Sacramento City College. She loves numbers and analytical problems.

Yana has a Bachelor’s Degree in Applied Mathematics and Statistics from California State University, Sacramento.

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Anush Avetisova

Anush Avetisova

SBFC Program Specialist

Anush Avetisova is a Small Business Finance Center Program Specialist. Prior to her current role at IBank, Anush worked as a retirement specialist at CalPERS, assisting CalPERS members with Service, Disability, Industrial Disability Retirement benefits. Prior to CalPERS, Anush worked as an accounting assistant with Sterling Caviar, LLC and as an accountant/business owner of Sacramento Design Flooring Inc. Anush graduated from California State University, Sacramento with Bachelor’s Degree in Finance and MBA.

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DanAdler2

Dan Adler

Deputy Director for Climate Finance

Dan Adler is the Deputy Director for Climate Finance at IBank.

Prior to this role, he was Vice President for Policy at the Energy Foundation, a partnership of grant makers advancing clean energy markets across the U.S. He was previously Managing Director of the California Clean Energy Fund (CalCEF) and President of CalCEF Ventures, where he led the firm’s efforts to identify and catalyze transformational new investment theses across venture capital and project finance. He has served as senior analyst in the Division of Strategic Planning at the California Public Utilities Commission, where he was responsible for the design and implementation of California’s Renewables Portfolio Standard and was senior staff for climate policy, and on the boards of the American Council on Renewable Energy, the Coalition for Green Capital, and the Vote Solar Initiative.

He has a BA in Political Science from the University of California, Berkeley and an MA in Public Policy from Harvard University.

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Karen Naungayan

Karen Naungayan

Deputy Director of External Affairs

In July 2021, Karen Naungayan joined the California Infrastructure and Economic Development Bank (IBank), located within the Governor’s Office of Business and Economic Development (GO-Biz) as Deputy Director of External Affairs. Prior to joining IBank, in 2016, Karen Naungayan was appointed by Governor Jerry Brown as the Assistant Director of External Affairs at the CA Department of Housing and Community Development (HCD), where she served for five years, including two years also functioning as Acting Deputy Director of Communications under Governor Gavin Newsom.

Prior to HCD, Karen was Communications Director for ten years at Housing California, the state’s leading advocacy organization on housing and homelessness. Previous jobs include marketing programs manager at Inventures Alliance Management, where she created and oversaw marketing and communications programs for three non-profit, international high-tech consortia. and managing editor of the B2B arm of Barnes & Noble.com.

Karen is a graduate of California State University, Sacramento and holds a degree in English, with a minor in Business Administration/Marketing. Karen is a previous board member of the Sacramento Housing Alliance and is active in the community as a volunteer, with former work as a court-appointed special advocate (CASA) for foster youth, mentor at Women’s Empowerment (an organization educating and empowering women who are experiencing homelessness so they can find employment and a stable home), and member of Sacramento Junior League. Karen has also participated in fund development for various nonprofits, including Habitat for Humanity of the Greater Sacramento Region.

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Ammer Singh

Ammer Singh

Municipal Finance Specialist

Ammer Singh is a Municipal Finance Specialist in the Loan Servicing Unit.

Singh has been involved with financial monitoring and oversight in California of affordable housing finance programs throughout his career. Prior to his current role, Singh was with the California Tax Credit Allocation Committee (CTCAC) where he was a Staff Services Manager I and worked in the Compliance Monitoring Unit to ensure development of low-income housing tax credit projects and compliance with federal IRS Section 42 program regulations and CTCAC program regulations. Singh was responsible for critical agency contracts that provided financial asset management of tax credit projects and the development of energy efficient tax credit projects in California. During his time with CTCAC, Singh worked with energy consultants to ensure compliance with California title 24 energy efficiency standards and the development of several netzero energy tax credit projects in California.

Prior to CTCAC, Singh was a Housing Finance Specialist in the asset management unit of the California Housing Finance Agency (CalHFA) where he ensured financial monitoring and oversight of multiple affordable housing developments in California.

Singh graduated from California State University, Sacramento where he earned a Bachelor of Arts degree in Economics.

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Jim Rennie

Jim Rennie

Staff Loan Officer Specialist

Jim Rennie is a Staff Loan Officer in the Loan Servicing Unit. He has more than 30 years in the financial services industry in both the private and public sectors. Jim earned his Bachelor’s degree in Natural Sciences and Theatre at Case Western Reserve University, and Master of Business Administration at Golden Gate University.

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Ella Clinton

Ella Clinton

Associate Governmental Program Analyst

Ella Clinton is an Associate Governmental Program Analyst for the Loan Servicing Unit. Before her promotion, Ella was the Office Technician (Typing) in the Administrative Unit. Prior to State Service, Ella ran her own small business for seven years. Ella holds a bachelor’s degree in Economics, with minors in French and International Relations) from the University of the Pacific.

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Mei Kwee

Financial Accountant II

Mei Kwee is a Financial Accountant II (Chief Accounting and Administrative Officer) in the Fiscal Unit.

Mei has worked for the State for almost 15 years, including 3 years in the Budget Office with the California Department of Insurance; 8 years in the Investment Accounting Unit, the Private Markets Unit, and the Treasury Management Unit with CalPERS; and 3 years in the Reconciliation and Financial Reporting Unit in the Accounting Office with Department of Motor Vehicles.

Mei has a bachelor’s degree in Economics from the University of Leicester in the U.K. She also has an MBA with two concentrations, Finance and International Business, from the University of Dayton in Ohio.

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Tina Chuong

Tina Chuong

Senior Accounting Officer, Specialist

Tina Chuong is the Senior Accounting Officer to the Fiscal Unit. Tina is responsible for performing complex accounting duties of the Small Business Expansion Fund, Climate Catalyst Fund, and other IBank funds as needed. She also assists in the preparation of the Comprehensive Annual Financial Report (CAFR).

Tina has worked with IBank Fiscal Unit for the almost 2 years as the Accounting Officer. In that time, she has been a valued member of the IBank Team. She was responsible for multiple fund reconciliations and assisted with the year-end reports.

Prior to her current role, Tina was an Accounting Officer at the Department of Motor Vehicles, in the Revolving Fund Unit, where she gained experience in disbursements and travel-related reimbursements. Tina started her career as a student assistant while enrolled at California State University, Sacramento. Tina was a member of the Accounting Society at California State University, Sacramento, where she was appointed to a Secretary and a Community Service Director for the Board of Directors of Accounting Society.

Tina earned her bachelor’s degree in Business Administration, Accountancy concentration, at the California State University, Sacramento.

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