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League-Sponsored Bond Agency Issues $13 Million in Tax-Exempt Bonds for College-Prep High School in Concord

January 18, 2017
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 $13,000,000 in tax-exempt bonds for Carondelet High School located in Concord.
 
About Carondelet High School
 
Carondelet is a four-year college-preparatory Catholic high school that offers young women a transformative educational experience in an encouraging and caring environment. Since its founding in 1965, Carondelet has combined academic excellence and recognition of the unique gifts of each of its students. The school’s focus is a woman-centered, comprehensive educational program designed to help young women build confidence and prepare for leadership and service in the 21st century.
 
CSCDA partnered with First Republic Bank to provide the $13 million tax-exempt loan for Carondelet. The loan will be used to finance the new Carondelet Athletic Complex (CAC) located in the city of Walnut Creek. CAC will include a state-of-the-art training and fitness center; turf fields for soccer, lacrosse and softball; tennis courts; and a competition swimming/diving pool.
 
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 CSCDA’s website for additional information on the ways in which CSCDA can help your city.


 
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