October 15, 2020
The California Statewide Communities Development Authority (CSCDA) is pleased to announce the issuance of $37,275,000 in insured taxable bonds for Los Angeles Jewish Home for the Aging (LAJHA).
For over 100 years, LAJHA, directly or through its affiliates, has provided residential, long-term care, and community-based healthcare services to the seniors of Los Angeles. LAJHA and its affiliates currently operate two continuing care retirement communities facilities, Fountainview at Eisenberg Village and Fountainview at Gonda, containing a total of 283 independent living apartments, 24 assisted living/memory care units, 271 skilled nursing beds, a 10 bed Acute Psychiatric Hospital with a supplemental service of 239 skilled nursing beds, and 271 residential care beds that, together with Brandman’s Program of All-inclusive Care for the Elderly (PACE) and Geriatric Services’ primary care clinic, Jack H. Skirball Jewish Home Hospice, Jewish Home Palliative Care, and Home Health, offer a continuum of chronic or post-acute care including independent living, residential care, assisted care, skilled nursing, Alzheimer’s, PACE, hospice and palliative care, as well as transitional and short-term rehabilitation.
About the Financing:
CSCDA partnered with Cain Brothers and Foley & Lardner, LLP on the $37,275,000 AA-rated insured taxable bonds. The bonds were issued to refinance CSCDA’s prior issued 2014 bonds, resulting in significant debt service savings for LAJHA.
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 $65 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 LAJHA, please visit: www.lajh.org
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