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Effective Financing of Community-Based Public Benefit Projects through CSCDA

July 10, 2015
Some of the most significant benefits of League membership for cities since 1988 have flowed from the League’s co-sponsorship of the California Statewide Communities Development Authority (CSCDA).
 
With 525 local government members, which include 337 cities, CSCDA is the premiere joint powers authority (JPA) in California providing access to low cost, tax-exempt financing and economic development tools. CSCDA is a resource for cities, their strategic partners and developers that are looking for an efficient financing tool to build infrastructure, provide affordable housing, create jobs, or help residential and commercial property owners finance clean energy.
 
CSCDA supports cities beyond its mission to provide a low cost vehicle for financing and managing bond issuance activities, especially for cities that find stand-alone financings too costly or lack the necessary resources or experience. This program also strengthens the League’s ability to provide other membership services to cities. As a CSCDA sponsor, the League receives royalty and administrative fees. These fees keep member cities’ dues lower and stable. Without these revenues, along with those from U.S. Communities and CalTRUST, League dues in the last three years would have had to be an average of 48 percent higher to finance the same level of member services.
 
The governing board of CSCDA comprises current and former city and county administrators who understand and respect the needs of local governments. Some of the respected former city managers and finance professionals who serve as commissioners include Kevin O’Rourke (Fairfield), Irwin Bornstein (Mission Viejo), Brian Moura (San Carlos) and Dan Harrison (League).
 
Throughout its history CSCDA has provided unique and innovative programs and will continue to serve cities, strategic partners and developers under new leadership. Following an extensive year-long RFP and vetting process, Bridge Strategic Partners (Bridge) was selected to work with CSCDA’s executive director, commissioners, CSAC and the League to continue the JPA’s long tradition of meeting local needs. John Penkower and James Hamill, the principals at Bridge, have extensive experience and expertise in conduit financing and helped launch many of CSCDA’s existing programs. This exceptional management team is equally committed to developing new tools and programs to meet future needs of communities throughout California. 
 
The League is confident about CSCDA’s management team and the benefits this invaluable program brings to the League and the well over 500 California local agencies that rely on its services. The League encourages cities and their partners to use CSCDA.
 
Please contact League Director of Administrative Services Norman Coppinger with any questions at (916) 658-8277.
 


 
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