CSCDACalifornia Statewide Communities Development Authority
What is CSCDA?
The California Statewide Communities Development Authority (CSCDA) was created in 1988, under California’s Joint Exercise of Powers Act, to provide California’s local governments with an effective tool for the timely financing of community-based public benefit projects.
Currently, more than 500 cities, counties and special districts have become Program Participants to CSCDA – which serves as their conduit issuer and provides access to an efficient mechanism to finance locally-approved projects. CSCDA helps local governments build community infrastructure, provide affordable housing, create jobs, make access available to quality healthcare and education, and more. CSCDA provides an important resource to our local government members.
More information on how CSCDA 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
This program offers tax-exempt lease financing to public agencies for capital projects, and equipment without the traditional expense or complexity of other finance mechanisms.
Total Road Improvement Program (TRIP)
CSCDA offers a pooled securitization program for local agencies, assisting them in bonding against future payments, allowing them to fund and complete projects today. Borrowers will benefit from reduced issuance costs and better interest rates. The program does not require a pledge of the local agency’s General Fund.
Water & Wastewater Bond Program
This program enables local agencies to benefit from lower costs and ease of execution in funding water and sewer projects. The pooled issuances are insured by Build America Mutual.
Infrastructure Finance Programs
Statewide Community Infrastructure Program (SCIP)
SCIP allows participating local agencies to receive impact fees prior to 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 agreements.
Community Facilities District (CFD) Financing
The mello-roos community facilities act of 1982 permits cscda to establish a mello-roos community facilities district (a “CFD”) which allows for financing of public improvements and services. The services and improvements that mello-roos cfds can finance include streets, sewer systems and other basic infrastructure, police protection, fire protection, ambulance services, schools, parks, libraries, museums and other cultural facilities.
Private Activity Programs
Qualified nonprofit organizations can access low-cost, tax-exempt bonds to finance or refinance the acquisition, construction, installation, expansion or rehabilitation of land, buildings, and equipment. A 501(c)(3) nonprofit organization can finance projects at a lower interest rate than conventional financing because the interest paid to bondholders is exempt from federal (and in some instances state) income taxes.
Exempt Facilities / Solid Waste
This program offers companies seeking cost-effective, tax-exempt capital to finance the acquisition and rehabilitation, construction of, or the acquisition of new equipment for solid waste and exempt facilities.
For-profit and nonprofit developers can access tax-exempt bonds for the financing of low-income multifamily and senior housing projects. The Bonds may be used to finance or refinance the acquisition and rehabilitation of an existing project or for the construction of a new project, provided the developer agrees to set aside all, or a portion, of the units in a project for individuals and families of very low, low or moderate income.
IDBs / Manufacturing
Eligible manufacturers can access cost-effective, tax-exempt bond proceeds to acquire, construct or rehabilitate manufacturing facilities that promote job creation and retention. Bond proceeds may also be used for the acquisition of new equipment.
Pace Finance Programs
Open Pace - Property Assessed Clean Energy Program
CSCDA’s OPEN PACE program is a turnkey resource for property owners to finance clean energy projects. PACE is a financing tool that allows residential and commercial property owners to secure upfront funding for energy and water-saving improvements, which they repay through a voluntary contractual assessment lien on their property tax bill. Please click here for more information about the program.