The California State Association of Counties (CSAC) formed the CSAC Finance Corporation in 1986 to offer municipal finance services to counties and to private entities that provide significant public benefit to the residents of counties.
A year later, the Finance Corporation and the League of California Cities created Joint Powers Authority of counties and cities, called the California Statewide Communities Development Authority (CSCDA). This authority provides a broad range of financial products and services that promote the economic well-being of counties and cities.
Many of our programs are administered by CSCDA, commonly referred to as "California Communities.” By combining the volumes of counties and cities, California Communities is able to negotiate lower costs of issuance on its bond issues.
Since its inception, the CSAC Finance Corporation, in partnership with California Communities, has constantly developed new products and services for CSAC member counties as well as other forms of local government. The CSAC Finance Corporation and California Communities will continue to anticipate the financial needs of California’s counties and work hard to meet them.
Not only are we able to offer programs for public agencies through California Communities but we are also able to offer programs that assist private organizations that provide a public benefit; such as charter schools, healthcare facilities, and affordable housing.
More information on how California Communities programs provide a public benefit to residents throughout California please CLICK HERE.
Please click on any of the programs below for more information.
Public Agency Programs
CaLease offers tax-exempt lease financing to public agencies for capital projects and equipment without the traditional expense or complexity of other finance mechanisms. The minimum funding amount is $500,000 for equipment and $1 million for real property projects.
The CaliforniaFIRST program has been launched in 14 California counties and 126 cities. The CaliforniaFIRST Program is a Property Assessed Clean Energy (PACE) finance program for non-residential properties. The Program allows property owners to finance the installation of energy and water improvements on commercial, industrial or multi-family (over 5 units) buildings and pay the amount back as a line item on their property tax bill.
Pension Obligation Bonds
The Pension Obligation Bond program provides a cost-effective means to finance increasing, unfunded pension obligations facing California’s public agencies.
The Statewide Community Infrastructure Program (SCIP) allows participating local agencies to receive impact fees in advance of development, while property owners repay the tax-exempt obligation over a thirty year bond term. SCIP may eliminate the need for local agencies to negotiate deferral fee arrangements.
In partnership with the Foundation for Renewable Energy and Environment, the new Sustainable Energy Bond Program was formed to provide public agencies and nonprofit organizations throughout California with access to tax exempt financing for critical sustainable energy investments. Under the Sustainable Energy Bond Program, participating entities and organizations will contract with an Energy Service Company (ESCO) to complete energy and water conservation measures.
The Total Road Improvement Program (TRIP) allows local agencies to finance major road improvement projects via Gas Excise Tax or Proposition 42 revenues by bonding against future payments from these sources for a large, upfront sum. As a pooled program, participants benefit from reduced issuance costs and better interest rates.
The Tax and Revenue Anticipation Note Program (TRANs) allows local agencies to finance short-term cash flow deficits due to the irregular receipt of taxes or revenues. The unique structure reduces expenses and offers certain advantages, including the option of different length maturities.
The Water/Wastewater Program offers cities, counties and special districts a cost-effective approach to finance or refinance capital improvements to water, wastewater and sewer facilities.
Private Agency Programs
Conduit issuance services for eligible 501(c)(3) non-profit organizations seeking cost-effective, tax-exempt capital to acquire, construct or rehabilitate facilities that provide demonstrable public benefits to local communities. Project examples include health care, primary and secondary education, hospice, assisted living, substance abuse and cultural facilities.
Conduit issuance services for both for-profit and non-profit developers seeking cost-effective, tax-exempt capital to acquire, construct or rehabilitate multifamily housing, and also agree to set aside all, or a portion, of the units in the project for individuals and families of very low, low or moderate income.
Conduit issuance services for companies seeking cost-effective, tax-exempt capital to acquire, construct or rehabilitate manufacturing facilities that promote job creation and retention.
Conduit issuance services for companies seeking cost-effective, tax-exempt capital to acquire, construct or rehabilitate facilities designed to help abate, eliminate, prevent, control or reduce pollution.