Home > News > News Articles > 2019 > September > League-Sponsored Bond Agency Issues Approximately $4.1 Million in Tax-Exempt Bonds for Community Hea
News Feed

League-Sponsored Bond Agency Issues Approximately $4.1 Million in Tax-Exempt Bonds for Community Health Center in Oakland

September 9, 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 closing of $4.1 million in tax-exempt bonds for La Clínica De La Raza, located in Oakland.
 
About La Clínica
 
Since its beginnings as a single storefront operation in Oakland in 1971, La Clínica has grown into a sophisticated provider of primary health care and other services spread across Alameda, Contra Costa, and Solano counties. With a total of 35 locations including service sites, support sites, and administration, La Clínica delivers health care services in a culturally and linguistically appropriate manner to most effectively address the needs of the diverse populations it serves. In 2017, La Clínica served 86,884 patients and provided 360,570 patient visits. With 48 years of experience serving the community, La Clínica is one of the largest community health centers in California.
 
CSCDA partnered with MUFG Union Bank, N.A. and Orrick, Herrington & Sutcliffe, LLP to provide the $4,103,362 in tax-exempt bonds for La Clínica. The bonds will be used to refinance La Clínica’s approximately 40,000 square foot community health center located in Oakland. The community health center provides primary medical care, pre-natal care, women’s services, dental, pediatrics, preventive care, and urgent care to approximately 40,000 patients.
 
About CSCDA
 
Created by cities and counties for cities and counties, 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. 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 La Clínica, please visit: www.laclinica.org.


 
© League of California Cities