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Council joins CMFA’s BOLD program to allow optional development‑funding tools
Summary
After a public hearing, the Los Banos City Council voted to join the California Municipal Finance Authority’s BOLD program, which allows developers to access community facilities district (CFD) financing through CMFA on a voluntary basis.
The Los Banos City Council on Oct. 15 adopted resolutions authorizing the city to join the California Municipal Finance Authority (CMFA) and participate in its Bond Opportunities for Land Development (BOLD) program.
CMFA managing director Ralph Holman explained that BOLD lets developers apply for CFD financing that CMFA forms and administers on behalf of participating projects. The program is designed to…
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