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CSCDA Issues a $53,000,000 Tax-Exempt Loan for Lick-Wilmerding High School



June 21, 2017

The California Statewide Communities Development Authority (CSCDA) is pleased to announce the closing of a $53,000,000 tax-exempt loan for Lick-Wilmerding High School (LWHS) located in San Francisco, California.

About LWHS:

Founded in 1895, LWHS is a co-educational not-for-profit public benefit corporation that serves 491 students in grades 9-12.  LWHS is located on Ocean Avenue in the City of San Francisco’s Balboa Park neighborhood.  Its mission is to develop the head, heart and hands of highly motivated students from all walks of life, inspiring them to become life-long learners who contribute to the world with confidence and compassion.
 
About the Financing:

CSCDA partnered with First Republic Bank and Hawkins, Delafield & Wood, LLP to provide the $53 million tax-exempt loan for LWHS.  The loan will be used to refinance an existing tax-exempt loan and construct a new 45,000 square foot three-story building, as well as remodel approximately 8,400 existing square feet to accommodate new classrooms, science labs, faculty/administrative offices and other facilities on LWHS’s campus.

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 $58 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 LWHS, please visit: www.lwhs.org

CLICK HERE to download a PDF version of this announcement


 
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