Building Community Capacity to Take Transformative Projects from Concept to Completion
Community Facilities in California
The Community Facilities in California ("CFCA") Program was designed to finance projects that develop essential community facilities such as public buildings and facilities, museums, recreational facilities, community centers, public safety facilities, educational facilities, streets and street lighting, health care facilities, courthouses, prison, jail and other correctional facilities, and other public infrastructure. CalMuni PFA provides low-interest direct loans.
About the CFCA Program
CalMuni's CFCA Program brings streamlined financing to California municipalities through the issuance of low-cost tax-exempt and taxable revenue bonds to finance the acquisition and development of public projects. Qualifying projects include civic centers, museums, recreational facilities, community centers, public safety facilities, educational facilities, streets and street lighting, health care facilities, courthouses, and other public buildings and facilities. CalMuni PFA has the discretion of identifying specific projects that are eligible for the program so long as there are public purpose aspects.
Use of Funds
The bond proceeds can be used to finance project acquisition and renovation costs, fund various reserves for the project (including the operating reserve fund) and the bonds, and pay the costs of issuance of the bonds. The bonds are issued as limited obligations of CalMuni PFA and are payable only from the revenues and receipts of the underlying project, ensuring that they do not constitute the debt or obligations of the public agencies. The bonds are secured by a first mortgage on the property, project revenues, and other customary collateral.
CalMuni PFA is comprised of government agencies with a mandate to serve other local government agencies. Our mission is to serve you at the lowest cost possible. We work with you every step of the way to ensure complete satisfaction with the process and the results. Our program alleviates the agencies from the sole responsibility of self-managing the heavy lifting involved in these types of transactions. In short, we help you build community capacity to take transformative projects from concept to completion.
CalMuni PFA Advantage
We can usually get you indicative pricing within a week.
Finance 100% of Project Costs
You can borrow up to 100% of your project costs.
Fixed Interest Rates
Fixed interest rates are available at lower rates and at better terms than what is being charged by other financial institutions.
We will tell you up front what your financing costs will be, and you can rest assured that there will be no hidden fees.
Simple & Efficient Process
We collaborate with you each step of the way and always provide you with all forms of resolutions, staff reports and financing agreements for easy, quick adoption.