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League-Sponsored Bond Agency Issues More Than $49.7 Million in Tax-Exempt Bonds for Los Angeles Jewish Home for the Aging

September 30, 2019
The League’s co-sponsorship of the California Statewide Communities Development Authority (CSCDA) continues to be a significant benefit for League members.
CSCDA announced the issuance of $49,730,000 in tax-exempt bonds for the Los Angeles Jewish Home for the Aging (LAJHA).
For over 100 years, LAJHA, directly or through its affiliates, has provided residential, long-term care, and community-based healthcare services to Los Angeles seniors. LAJHA and its affiliates currently operate two continuing care retirement community facilities, Fountainview at Eisenberg Village and Fountainview at Gonda, containing a total of 283 independent living apartments, 24 assisted living/memory care units, 271 skilled nursing beds, a 10-bed acute psychiatric hospital with a supplemental service of 239 skilled nursing beds and 271 residential care beds. These services,, together with Brandman’s Program of All-inclusive Care for the Elderly (PACE), primary care clinic, Jack H. Skirball Jewish Home Hospice, Jewish Home Palliative Care and Home Health offer a continuum of chronic or post-acute care including independent living, residential care, assisted care, skilled nursing, Alzheimer’s, PACE, hospice and palliative care, as well as transitional and short-term rehabilitation.
CSCDA partnered with Cain Brothers and Foley & Lardner, LLP on the $49,730,000 AA-rated insured tax-exempt bonds. The bonds were issued to refinance CSCDA’s prior issued 2013 bonds, resulting in significant debt service savings for LAJHA.
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 LAJHA, please visit www.lajh.org.

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