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CSCDA Issues $5.6 Million in Tax-Exempt Bonds for APP Hayward Jet Center

February 4, 2016

The California Statewide Communities Development Authority (CSCDA) is pleased to announce the issuance of $5,600,000 in tax-exempt bonds for APP Jet Center (APP) in Hayward, California.

About APP:
APP owns and operates Fixed Base Operations (FBO) at three U.S. airports, as well as one hangar complex.  An FBO is a business that sells aviation fuel and provides services and storage for private and business aviation customers.  APP’s FBO locations are in Manassas, Virginia; Fort Pierce, Florida; and at the location of the current financing in Hayward, California.
 
About the Financing:
CSCDA partnered with KeyBanc Capital Markets to provide the $5.6 million in tax-exempt bonds to APP.  The bond proceeds will be used for the construction of a new 20,000 square foot aircraft storage hangar, attached 3,000 square foot passenger terminal and renovations to the existing terminal. 
 
Economic Development:
The financing will provide the following economic development benefits: (1) employment in the Hayward area during and after construction; (2) upgrading the suitability of the Hayward Executive Airport for corporate aviation use; and (3) increasing tax revenues to the City of Hayward and Alameda County.
 
About CSCDA:
CSCDA is a joint powers authority created in 1988 and is sponsored by the California State Association of Counties and the League of California Cities.  More than 500 cities, counties and special districts are program participants in CSCDA, which serves as their conduit issuer and provides access to efficiently finance locally-approved projects.  CSCDA has issued more than $52 billion in tax exempt bonds for projects that provide a public benefit by creating jobs, affordable housing, healthcare, infrastructure, schools and other fundamental services.

For more information about CSCDA, please visit: www.cscda.org

CLICK HERE to download a PDF version of this announcement

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