Sacramento, CA (PRWEB) July 02, 2015
The California Statewide Communities Development Authority (CSCDA) announced today the launch of its contract with Bridge Strategic Partners (BSP) as CSCDA’s new Program Administrator. BSP, based in Walnut Creek, was selected after a six month, rigorous and competitive RFP process undertaken by CSCDA to evaluate proposals from companies seeking to serve as CSCDA’s Program Administrator. BSP’s proposal rose to the top and won the contract by demonstrating it could provide significant benefits to CSCDA’s 500+ local government members, excellent client services, and a smooth transition process for CSCDA members.
“We look forward to BSP providing our members with an extraordinary level of service,” said Larry Combs, CSCDA’s Board Chair.
“We are thrilled to begin working with CSCDA and intend to maintain the excellent level of service that its clients expect,” said Jon Penkower, Principal with BSP. “CSCDA has an unparalleled track record of facilitating creative financing resources for local governments. BSP is well positioned to expand CSCDA’s current programs and create innovative new solutions that benefit local communities throughout California.”
“I look forward to a seamless transition and to hit the ground running with BSP,” said Cathy Bando, CSCDA’s Executive Director. “Our partnership with BSP will further CSCDA’s mission to develop new financing solutions for local governments and to provide smoother market access for institutional borrowers.”
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. CSCDA was created by and for local governments and is sponsored by the California State Association of Counties and the League of California Cities.
Currently, more than 500 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. CSCDA has issued more than $50 billion in tax exempt bonds for projects that provide a public benefit by creating jobs, affordable housing, healthcare, infrastructure, schools and other fundamental services.
For more information, visit http://www.cscda.org