he ABAG Finance Authority for Nonprofit Corporations (the
"Authority") provides economical conduit financing to nonprofit
organizations and other borrowers serving the public in the areas of health and
social services, affordable housing, and education. The Authority is organized
as a California Joint Powers Agency. The
Authority simplifies the debt issuance process for both the borrower and the
jurisdiction in which the borrower is located by issuing conduit tax-exempt
bonds to finance projects with demonstrated public benefit.
Projects financed by the Authority have involved facility
acquisition and rehabilitation, equipment acquisition, and new construction.
The Authority is managed by ABAG for members throughout the state and will only
issue debt for projects located in Authority member jurisdictions. The Authority is financially healthy -- click here for a copy of the Authority's Audited Financial Statements
.
To date, the
Authority has delivered more than $3.2 billion in conduit tax-exempt financings
for borrowers throughout the State of California.
Bonds issued by the
Authority were used to acquire, renovate and repair the Ten-O-One
Apartments, a 216-unit affordable complex in Oxnard.
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The Authority has
issued $90 million in Capital Project Financing for Children's Hospital in
Oakland.
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Bonds issued by the Authority were used
to construct the Vintage Chateau Senior Apartments,
a 240-unit affordable complex for seniors in Petaluma.
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