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CSCDA Issues $89,800,000 in Tax-Exempt Bonds for New Student Housing at California College of the Arts


January 30, 2019

The California Statewide Communities Development Authority (CSCDA) is pleased to announce the issuance of $89,800,000 in tax-exempt bonds for the construction of new student housing facilities located at the California College of the Arts (CCA) in San Francisco, California.

About CCA:
 
Founded in 1907 by Frederick Meyer, a German cabinetmaker, whose vision was shaped by the Arts and Crafts movement, CCA is noted for the interdisciplinary and breadth of its programs.  CCA educates students to shape culture and society through the practice and critical study of art, architecture, design, and writing.  Benefitting from its San Francisco Bay Area location, the college prepares students for lifelong creative work by cultivating innovation, community engagement, and social and environmental responsibility. 

About the Financing:

CCA engaged National Campus and Community Development Corporation (NCCD) to develop a 524-bed mixed-use student housing facility to be located on CCA’s San Francisco campus.  The project will have five stories of bedrooms with a full 8,000 sq. ft. dining facility on the first floor.  CSCDA partnered with George K. Baum and Orrick, Herrington & Sutcliffe, LLP to provide the $89,800,000 in tax-exempt bonds for the project. 

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 530 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 $60 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

For more information about CCA, please visit: www.cca.edu

For more information about NCCD, please visit: www.nccdevelopment.org
 
CLICK HERE to download a PDF version of this announcement

 
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