CSCDA Issues $135,920,000 in Tax-Exempt Bonds for Jewish Home of San Francisco
November 29, 2016
The California Statewide Communities Development Authority (CSCDA) is pleased to announce the issuance of $135,920,000 in tax-exempt bonds for Jewish Home of San Francisco (JHSF) located in San Francisco, California.
JHSF serves approximately 1,800 patients and residents each year on its nine-acre campus. Non-residential care is offered through JHSF’s short-term and rehabilitation services unit for patients who require geriatrically-specialized, interdisciplinary rehabilitation to recover from surgery or an acute illness, and through its acute geriatric psychiatry hospital.
About the Financing:
CSCDA partnered with Cain Brothers, the underwriter, on the $135,920,000 AA- rated insured tax-exempt bonds. The bonds will be issued to finance construction of the new 265,000 square foot facilities, with new and expanded services at JHSF’s existing campus. In addition, the project will include the demolition of several existing buildings. The new facilities will house approximately 190 licensed residential care elderly (RCFE) units, 113 of which will be used for assisted living and 77 being used for memory support care, with the additional facilities being used to house medical care, wellness and fitness programs, dining, and other senior living services, as well as the construction of a new subterranean parking lot. The project will also include improvements to the existing campus facilities, including seismic upgrades. The new facilities will be operated in conjunction with the existing 378 licensed bed distinct-part nursing facility and the 12 licensed bed acute gero-psychiatric hospital.
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 $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: www.cscda.org
For more information about JHSF, please visit: www.jhsf.org
to download a PDF version of this announcement
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