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CSCDA Issues $113,555,000 in Tax-Exempt Bonds for Student Housing at California Baptist University


November 17, 2016

The California Statewide Communities Development Authority (“CSCDA”) is pleased to announce the issuance of $113,555,000 in tax-exempt bonds for Lancer Educational Housing LLC (“LEH LLC”), in conjunction with California Baptist University in Riverside, California (the “Project”).

About LEH LLC & California Baptist University:

LEH LLC was formed in 2007 for the purpose of receiving, holding, and administering student housing facilities for the direct benefit of California Baptist University.  The University is a California non-profit corporation located in Riverside, California, organized to operate a private, accredited Christian university offering liberal arts undergraduate and graduate degrees.
 
About the Financing:

CSCDA partnered with D.A. Davidson to underwrite the $113,555,000 in tax-exempt bonds for the Project.  The bonds will be used to finance new student housing facilities for California Baptist University as well as refinance CSCDA’s previously issued Series 2007A and Series 2010A bonds.

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 $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 California Baptist University, please visit: www.calbaptist.edu

CLICK HERE to download a PDF version of this announcement


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