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Home > News > News Articles > 2020 > October > ​League-sponsored bond agency issues taxable bonds for Los Angeles senior care facility and home
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​League-sponsored bond agency issues taxable bonds for Los Angeles senior care facility and home

October 21, 2020
The California Statewide Communities Development Authority (CSCDA) has issued $37,275,000 in insured taxable bonds that will benefit Los Angeles community seniors.
 
For more than 100 years, the Los Angeles Jewish Home for the Aging (LAJHA), directly or through its affiliates, has provided residential, long-term care, and community-based healthcare services to Los Angeles seniors.
 
CSCDA partnered with Cain Brothers and Foley & Lardner, LLP to provide more than $37 million in AA-rated insured taxable bonds to refinance CSCDA’s prior issued 2014 bonds, resulting in significant debt service savings for LAJHA.
 
LAJHA and its affiliates currently operate two continuing care retirement communities facilities, Fountainview at Eisenberg Village and Fountainview at Gonda, along with Brandman’s Program of All-inclusive Care for the Elderly (PACE), Jack H. Skirball Jewish Home Hospice, and Jewish Home Palliative Care and Home Health to 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.

The League’s co-sponsorship of CSCDA continues to be a significant benefit for League members. CSCDA has issued more than $63 billion in tax-exempt bonds for projects that provide a public benefit by creating jobs, affordable housing, healthcare, infrastructure, schools, and other fundamental services.
 
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.
 
Visit CSCDA’s website for additional information on the ways in which CSCDA can help your city.


 
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