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CSCDA Issues $32,550,000 in Tax-Exempt Bonds for Community Hospital of the Monterey Peninsula

June 16, 2016

The California Statewide Communities Development Authority (CSCDA) is pleased to announce the issuance of $32,550,000 in tax-exempt bonds for Community Hospital of the Monterey Peninsula, in Monterey, California.

About Community Hospital of the Monterey Peninsula (CHOMP):

CHOMP, a California nonprofit public benefit corporation, owns and operates a 258 licensed-bed acute care hospital located in the Carmel Hill area of the Monterey Peninsula in Northern California.  CHOMP also owns and operates Westland House, a 28-bed skilled nursing and hospice facility, and an outpatient hospice facility located in Monterey, California and provides outpatient healthcare services at various outpatient facilities throughout Monterey County.  CHOMP is the market leader for acute care services in its Primary Service Area, identified as the Monterey Peninsula, which includes the communities of Seaside, Monterey, Carmel Valley, Pacific Grove, Marina, Pebble Beach, Sand City, Del Rey Oaks, Big Sur, and unincorporated areas of Monterey County located on the peninsula.

About the Financing:

CSCDA partnered with Piper Jaffray to place the $32,550,000 in tax-exempt bonds for CHOMP.  The bonds will be used to refinance CSCDA’s previously issued Series 2011A Bonds, allowing CHOMP to significantly reduce its bond debt service and interest cost.

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 $57 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:

For more information about CHOMP, please visit:

CLICK HERE to download a PDF version of this announcement

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