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League-Sponsored Bond Agency Finances for Stockton-Based Charter School and Childcare Program for Underserved Children

November 13, 2015
The California State Wide Development Authority (CSCDA) on Thursday, Nov. 12 announced that it issued $8 million in tax-exempt bonds and $279 in taxable bonds for TEAM Charter School and Creative Child Care Inc. (CCCI), both in Stockton.
 
 
About Team Charter School and CCCI
 
Founded in 2011, TEAM Charter serves 552 children in transitional kindergarten through fifth grade. Team Charter provides free quality education to serve students from various backgrounds, including a large number of at-risk students in San Joaquin County. In the school year 2015-16, 92.35 percent of students enrolled in Team Charter are from low-income families, English language learners or foster care kids.
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Since 1992, CCCI, a nonprofit organization, has been committed to providing exemplary child development programs through a comprehensive network of community support and collaboration. CCCI provides free and subsidized child care for income eligible families with a demonstrated need for child care services, such as employment, training, or attending school. CCCI currently serves more than 1900 children and employs more than 340 people in more than 36 locations throughout San Joaquin County.
 
About the Financing
 
CSCDA partnered with Westhoff, Cone & Holmstedt to provide the $8.27 million in tax-exempt and taxable bonds for TEAM Charter and CCCI. The bonds will be used to acquire and improve a charter school and early education facilities
 
Background
 
CSCDA is a joint powers authority created in 1988 and is sponsored by the League of California Cities® and the California State Association of Counties. It was created by cities and counties for cities and counties. 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 $50 billion in tax exempt bonds for projects that provide a public benefit by creating jobs, affordable housing, healthcare, infrastructure, schools and other fundamental services. Visit http://cscda.org for additional information on the ways in which CSCDA can help your city.


 
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