CSCDA Closes $20,000,000 Tax-Exempt Loan for Sonoma Academy

September 22, 2022

The California Statewide Communities Development Authority (CSCDA) is pleased to announce the issuance of a $20,000,000 tax-exempt loan for Sonoma Academy, located in Santa Rosa, California.

About Sonoma Academy:

Sonoma Academy, founded in 1999, is a nonprofit co-educational college preparatory school for grades nine through twelve, and located on 34 acres in Santa Rosa.  The School was founded by 12 community and business leaders who envisioned a premier, independent college preparatory high school.  Sonoma Academy opened in September 2001 with an academic program enhanced by performing arts, athletics, international travel, and community service.

About the Financing:

CSCDA partnered with First Republic Bank and Hawkins, Delafield & Wood, LLP to provide the $20,000,000 tax-exempt loan for Sonoma Academy.  The loan will be used for the construction of a new 14,750 sq. ft. Community Performing Arts Center, containing two performance spaces and three teaching spaces, as well as the refinancing of prior issued CSCDA 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 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 $70 billion in tax exempt bonds for projects that provide a public benefit by creating jobs, affordable housing, healthcare, infrastructure, schools and other fundamental services.

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