Case Studies

The CSDA Finance Corporation has assisted special districts of all types with funding for mission-critical property acquisition, construction, equipment purchases, and more.

Beaumont-Cherry Valley

Beaumont-Cherry Valley RPD

The devastating fire season of 2020 had an impact on many special districts in California. Beaumont-Cherry Valley Recreation and Park District in Riverside County was no exception. The Apple Fire and El Dorado Fire in nearby San Bernardino County raged in and around their park in Cherry Valley, leaving burn scars that put both the park and the community downstream at risk of damage from potential debris flows.

Repairs to mitigate this risk were crucial, but the unexpected cost was not readily available in the district’s budget. General Manager Duane Burk contacted the CSDA Finance Corporation (CSDAFC) for funds to make the necessary repairs and minimize risk of damage from future runoff. The CSDAFC consultants from Municipal Finance Corporation arranged a 5-year loan at 2.95% without any points or fees. Now the district is well prepared for future rainstorms and able to complete several other projects as well.

Words do not describe how thankful we are to work with people who care. Your entire team was extremely helpful during the funding process.

- Duane Burk, General Manager

McKinleyville CSD Accesses Essential Project Financing Through CSDAFC

McKinleyville Community Services District (MCSD) in Humboldt County has over 6,700 active water customers with a projected growth rate of four percent per year. The district purchases its wholesale supply from the Humboldt Bay Municipal Water District (HBMWD). Last year, the district reached out to the CSDA Finance Corporation to help with funding improvements to the district’s water system and wastewater system. The project would add a new 4.5 million gallon water storage tank to the existing system, with the goal of increasing storage capacity to enhance resiliency during emergency events - such as significant seismic activity - if supply from HBMWD was interrupted.

With the assistance of a team of experts from the CSDA Finance Corporation, including Oppenheimer & Co. Inc. as underwriter and Kutak Rock LLP as bond counsel, MCSD accessed $7.9 million in tax-exempt financing with 30-year water/wastewater revenue COPs at a true interest cost of 2.76 percent.

The CSDA Finance Corporation consultants were amazing. Every member of the team was extremely knowledgeable and provide clear recommendations and direction. They were a great team to work with and they were able to get a fantastic rate for the district’s financing!

- Patrick Kaspari, General Manager

solar energy

CSDA Finance Corporation Helps HRCSD’s Solar Energy Dreams Come True

In Fall of 2020, the Heritage Ranch Community Services District (HRCSD), began construction on a new solar energy generation system designed to offset energy costs associated with their water and wastewater treatment plant operations.

These facilities require a large amount of electricity to operate. Last year, HRCSD’s electricity costs accounted for $220,000 of their overall expenses. The new solar system, expected to be completed by the middle of 2021, should offset approximately 77 percent of HRCSD’s annual energy costs.

HRCSD turned to the CSDA Finance Corporation for the funding of the $1.5 million project.

A solar energy generation project has been on the district’s radar for over 10 years and the current Board of Directors is glad to see it finally come to fruition. The energy cost savings, rate of return, and the investment in clean energy make this project a great benefit to our community and environment. Thank you to the CSDA Finance Corporation and the entire project team.

- Scott Duffield, General Manager