California Health Facilities Financing Authority (CHFFA)
| Phone | 916-653-2799 |
| Fax | 916-654-5362 |
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Contact:
915 Capitol Mall, Room 590
Sacramento, CA 95814
Sacramento, CA 95814
Mission Statement
To help eligible and creditworthy non-profit and public health facilities reduce their cost of capital, and promote important California health access, healthcare improvement and cost containment objectives by providing cost-effective tax-exempt bond, low-cost loan, and direct grant programs.
Overview
The California Health Facilities Financing Authority (CHFFA) was established in 1979 and operates pursuant to the California Health Facilities Financing Authority Act in the California Government Code Sections 15430-15462.5. CHFFA was created to be the State's vehicle for providing financial assistance to public and non-profit health care providers in our State through loans funded by the issuance of tax-exempt bonds and loans through our HELP II loan Program.
Tax-Exempt Bond Program
This program provides a borrower with access to low interest rate capital markets through the issuance of tax-exempt revenue bonds. Proceeds from the loan may be used by eligible borrowers to fund construction/renovation projects, land acquisition for future projects, acquisition of existing health facilities, refinancing of existing debt, working capital for start-up facilities and pay costs of issuance. Given the cost of issuing bonds, this is the option usually pursued by borrowers with capital projects in excess of $5 million.
HELP II Loan Program
The Authority recognizes the difficulty small and rural health facilities have in obtaining adequate financing for their capital needs. The HELP II Financing Program provides three percent (3%), fixed interest loans of up to $1,000,000 to California s non-profit small and rural health facilities in an efficient, timely and cost effective manner. HELP II loans may be used to purchase or construct new facilities, remodel or renovate existing facilities, and purchase equipment or furnishings. Since the program's inception in 1988, the Authority has loaned more than $60 million to small and rural health facilities.
Children's Hospital Program
Children's Hospital Bond Act of 2004
On November 2, 2004, California voters passed Proposition 61 that enables the State of California to issue $750 million in General Obligation bonds to fund the Children s Hospital Program. The purpose of the Program is to improve the health and welfare of California s critically ill children, by providing a stable and ready source of funds for capital improvement projects for children s hospitals.
Children's Hospital Bond Act of 2008
On November 4, 2008, California voters passed Proposition 3 that enables the State of California to issue $980 million in General Obligation bonds to fund the Children s Hospital Program. The purpose of the Program is to improve the health and welfare of California s critically ill children, by providing a stable and ready source of funds for capital improvement projects for children s hospitals.
To help eligible and creditworthy non-profit and public health facilities reduce their cost of capital, and promote important California health access, healthcare improvement and cost containment objectives by providing cost-effective tax-exempt bond, low-cost loan, and direct grant programs.
Overview
The California Health Facilities Financing Authority (CHFFA) was established in 1979 and operates pursuant to the California Health Facilities Financing Authority Act in the California Government Code Sections 15430-15462.5. CHFFA was created to be the State's vehicle for providing financial assistance to public and non-profit health care providers in our State through loans funded by the issuance of tax-exempt bonds and loans through our HELP II loan Program.
Tax-Exempt Bond Program
This program provides a borrower with access to low interest rate capital markets through the issuance of tax-exempt revenue bonds. Proceeds from the loan may be used by eligible borrowers to fund construction/renovation projects, land acquisition for future projects, acquisition of existing health facilities, refinancing of existing debt, working capital for start-up facilities and pay costs of issuance. Given the cost of issuing bonds, this is the option usually pursued by borrowers with capital projects in excess of $5 million.
HELP II Loan Program
The Authority recognizes the difficulty small and rural health facilities have in obtaining adequate financing for their capital needs. The HELP II Financing Program provides three percent (3%), fixed interest loans of up to $1,000,000 to California s non-profit small and rural health facilities in an efficient, timely and cost effective manner. HELP II loans may be used to purchase or construct new facilities, remodel or renovate existing facilities, and purchase equipment or furnishings. Since the program's inception in 1988, the Authority has loaned more than $60 million to small and rural health facilities.
Children's Hospital Program
Children's Hospital Bond Act of 2004
On November 2, 2004, California voters passed Proposition 61 that enables the State of California to issue $750 million in General Obligation bonds to fund the Children s Hospital Program. The purpose of the Program is to improve the health and welfare of California s critically ill children, by providing a stable and ready source of funds for capital improvement projects for children s hospitals.
Children's Hospital Bond Act of 2008
On November 4, 2008, California voters passed Proposition 3 that enables the State of California to issue $980 million in General Obligation bonds to fund the Children s Hospital Program. The purpose of the Program is to improve the health and welfare of California s critically ill children, by providing a stable and ready source of funds for capital improvement projects for children s hospitals.
