Home > News > News Articles > 2016 > February > League-Sponsored Bond Agency Issues $5.6 Million in Tax-Exempt Bonds for APP Hayward Jet Center
News Feed

League-Sponsored Bond Agency Issues $5.6 Million in Tax-Exempt Bonds for APP Hayward Jet Center

February 11, 2016
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).
 
This program provides a variety of public agencies and developers access to low-cost, tax-exempt financing and economic development tools. CSCDA recently issued $5,600,000 in tax-exempt bonds for the APP Jet Center (APP) in Hayward.

Hayward: APP Jet Center

APP owns and operates Fixed Base Operations (FBO) at three U.S. airports, as well as one hangar complex. An FBO is a business that sells aviation fuel and provides services and storage for private and business aviation customers. APP’s FBO locations are in Manassas, Virginia; Fort Pierce, Florida; and at the location of the current financing in Hayward.
 
CSCDA partnered with KeyBanc Capital Markets to provide the $5.6 million in tax-exempt bonds to APP. The bond proceeds will be used for the construction of a new 20,000 square foot aircraft storage hangar, attached 3,000 square foot passenger terminal and renovations to the existing terminal. The financing will provide the following economic development benefits:
  • Employment in the Hayward area during and after construction;
  • Upgrading the suitability of the Hayward Executive Airport for corporate aviation use; and
  • Increasing tax revenues to the city of Hayward and Alameda County. 
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.


 
© League of California Cities