California Communities Lease Finance Program (CaLease)
The California Communities® Lease Finance Program (“CaLease”) allows local agencies to finance equipment and real estate. The program has been established using a Master Lease Agreement with each respective local agency to provide for efficient subsequent purchases in the future. CaLease provides local agencies with access to multiple funding institutions who competitively bid on their project. This comprehensive lease management program allows local government the ability to bid and manage leases without dedicating significant staff time to the process.
More than 40 local agencies in California have participated in the CaLease program, including the cities of Elk Grove and Pinole and the counties of Santa Clara, Santa Barbara and Solano. Minimum project sizes start at $500,000 for equipment and $1 million for real property.
To maximize efficiencies and control costs, California Communities® has designated a team of financial and legal experts to partner with on the CaLease Program. This design reduces issuance cost via negotiated fees based upon program volume while maintaining consistency in the program documents.
Since inception, California Communities® has issued over $125.9 million for more than 161 projects throughout California.
For more information, please contact Scott Carper at (925) 765-8525.