Exempt Facilities / Solid Waste
California Communities® issues Bonds for companies to finance the acquisition and rehabilitation, construction of or the acquisition of new equipment for solid waste and exempt facilities. As the interest on the Bonds is exempt from federal income taxes, a borrower can finance a project at a lower interest rate than available through conventional financing. Since inception, California Communities® has issued in excess of $1.1 billion for solid waste facilities projects.
California Communities® can privately place projects ranging in size from $1 million to $5 million through the Small Issue Public Benefit Program or work with a borrower and their finance team as conduit issuer on publicly offered Bonds.
California Communities® requires each project to demonstrate a clear public benefit to the community in which the project is located. Additionally, each borrower is required to file an application, via California Communities®, with the State of California to reserve the right to issue tax-exempt bonds. The state application evaluation criteria are based on various public benefit categories such as job creation, participation in a Welfare to Work Plan, payment of employee medical, dental, and vision costs, comparison of the average hourly wage, and use of energy efficient facility designs and materials.
For more information, please contact Scott Carper at (925) 765-8525.