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League-Sponsored Bond Agency Issues $7.8 Million Tax-Exempt Loan for Community Charter School in Oakland

June 24, 2019
The League’s co-sponsorship of the California Statewide Communities Development Authority (CSCDA) continues to be one of the most significant benefits for League members.
CSCDA announced the closing of a $7.8 million tax-exempt loan for the benefit of Lodestar, a Lighthouse Community Charter School, located in Oakland.
About Lodestar
Lodestar Charter School opened in August 2016 and currently serves grades kindergarten through eighth.  Lodestar will continue adding students and classes until the school has reached 850 students across grades kindergarten through twelfth in the year 2022–23. Dedicated to serving a student population that has been historically underserved by the traditional school system, Lighthouse schools provide a much needed option for students and their families in Oakland.
CSCDA partnered with First Republic Bank to provide the $7.8 million tax-exempt loan for Lodestar. The loan will be used to construct a 24,000 square foot building comprising 14 classrooms, a self-discovery lab, and seven administrative offices. A new playground will also be constructed to include a play structure and basketball courts.
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 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 $60 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. For more information about Lighthouse, please visit: www.lighthousecharter.org.

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