News Release: IBank Board Approves $26 Million Loan to Help City of Santa Cruz Finance Critical Wastewater Improvement Projects SACRAMENTO — The California Infrastructure and Economic Development Bank (IBank) board of directors approved $26 million in loan financing for the city of Santa Cruz for two wastewater system improvement projects that will replace and upgrade decades-old equipment — preventing costly repairs, protecting pipelines from corrosion, improving water quality, and minimizing the risk of damage to the coastline, ocean, and other surrounding waterways. The board approved the $26 million Infrastructure State Revolving Fund loan for the Front-Spruce-Pacific 54-Inch Sewer Rehabilitation Project ($5.3 million), and the Headworks Rehabilitation Project for the Santa Cruz Wastewater Treatment Facility ($20.6 million). Read more: https://bit.ly/3ZMEqV9
IBank California
Financial Services
Sacramento, California 882 followers
IBank provides financial assistance to support infrastructure and economic development in California.
About us
The California Infrastructure and Economic Development Bank (IBank) is the State of California’s only general purpose financing authority. The Legislature created IBank in 1994 to finance public infrastructure and private development that promote a healthy climate for jobs, contribute to a strong economy, and improve the quality of life in California communities. IBank is located in the Governor's Office of Business and Economic Development (Go-Biz), has a five-member Board of Directors, and an Executive Director who runs the day-to-day operations. IBank has broad statutory authority to issue tax-exempt and taxable revenue bonds, provide loans to state and local governments for public infrastructure and economic expansion projects and loan guarantees to help small businesses. IBank's current programs include the Infrastructure State Revolving Fund (ISRF) Program; Bond Financing Program, including: 501(c)(3) Bonds, Industrial Development Bonds; Exempt Facility Bonds; and Public Agency Revenue Bonds; as well as the Small Business Finance Center. In addition, IBank created the California Lending for Energy and Environmental Needs Center – CLEEN Center – to help meet the State’s Greenhouse Gas Reduction Goals. IBank operates according to the Bergeson-Peace Infrastructure and Economic Development Bank Act in California Government Code Sections 63000 et seq.
- Website
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http://www.ibank.ca.gov
External link for IBank California
- Industry
- Financial Services
- Company size
- 11-50 employees
- Headquarters
- Sacramento, California
- Type
- Government Agency
- Founded
- 1994
- Specialties
- Financing for public agencies, Financing for nonprofits (501(c)(3)), Financing for small businesses, Bond financing program, Municipality loans, and Disaster Relief Financing
Locations
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Primary
1325 J St
Suit3 1300
Sacramento, California 95814, US
Employees at IBank California
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John Belmont
Public Finance Specialist
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Daniel Adomian
Green Infrastructure; Co-Founder, Vices.com; Area 2 Representative, Empowerment Congress Central
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Dr. Aleta Jones
Information Technology Specialist @ GO-Biz | A Certification Our Infinite Company - Life Insurance
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Derrick Tang
Venture Capital for the State of California
Updates
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Would you like an IBank speaker at your meeting or event? Submit a request here: https://bit.ly/385wnKA
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IBank California reposted this
Check out all the updates in our September e-newsletter! ... • California Governor’s Monthly Update • Task Force to Showcase Tools Demonstrating Progress • California Protects 11,000 Acres of the Upper Trinity River Watershed • CAL FIRE Funds 94 Wildfire Projects to Build Climate and Community Resilience • U.S. Forest Service Announces Funding to Local Businesses and Underserved Populations to Reduce Wildfire Risk • California IBank Invests in Wildfire Innovation Fund • SNC Awards Cultural Burning Capacity Grant to Nevada City Rancheria Nisenan Nonprofit ... Read the newsletter here >> https://lnkd.in/gYJhkPsY ... Subscribe to get future e-newsletters in your inbox! >> https://bit.ly/TF-News … California Department of Forestry and Fire Protection (CAL FIRE) Office of the Governor - California CalEPA Cal OES California Department of Conservation Bureau of Land Management USDA Forest Service Sierra Nevada Conservancy California Natural Resources Agency California State Association of Counties® Rural County Representatives of California … #WildfireTaskForce #TaskForceProgress #Wildfire
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Don't miss important news and updates from IBank. Sign up for our newsletter today: https://bit.ly/372YFVg
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IBank California reposted this
#Entrepreneurs: Are you looking for a loan to grow your business? Let California Small Business Loan Match, brought to you by IBank California, connect you with dozens of pre-vetted, mission-driven lenders—including Working Solutions—for loans you can trust. Visit CAloanmatch.org to get started in less than 10 minutes with a brief pre-application! #CALoanMatch
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IBank California reposted this
California IBank invests $25M in Wildfire Innovation Fund! … California’s Infrastructure and Economic Development Bank (IBank) announced $25 million from the Climate Catalyst Revolving Loan Fund will be invested in the California Wildfire Innovation Fund to reduce wildfire risk, restore California forests, improve forest health, and put new biomass technologies to work. The fund offers flexible, low-cost financial support for emerging opportunities across California’s forest restoration and wood utilization sectors. ... Learn more about this investment and the California Wildfire Innovation Fund managed by Blue Forest. >> https://lnkd.in/gVS88f7Y … IBank California California Governor's Office of Business and Economic Development (GO-Biz) Blue Forest … #WildfireTaskForce #TaskForceProgress #ClimateCatalystFund #Forestry
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IBank California reposted this
Congratulations to IBank on 30 years of amplifying economic growth throughout California! Deputy Treasurer John Sheldon attended the celebration of the California Infrastructure and Economic Development Bank, on behalf of Treasurer Fiona Ma, who is an IBank California board member. IBank was founded in 1994 to finance public infrastructure and private development. The event was held at the Academy Museum of Motion Pictures, one of the projects financed through IBank. Attendees included business leaders, legislators, and former IBank executive directors, bankers, and lawyers.
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IBank California reposted this
I’m excited to attend this year's DiverseVC Conference on Thursday, September 12th, in downtown San Francisco! I’m looking forward to meeting and connecting with my fellow emerging & diverse VCs, along with all the LPs attending. Look forward to insights from the incredible line-up including Octavio Sandoval, CFA, CAIA (Illumen Capital), Renata Aráuz-DeStefano (Pivotal Ventures), Pamela Pavkov (TPG Next), Derrick Tang (IBank California) and more. Learn more here: https://www.diversevc.org/ Thank you Tim Hsia (Context VC) & Neil Devani (Necessary Ventures) for hosting and Citizens Private Bank, Sidley Austin LLP, Juniper Square, BDO, Stifel Financial Corp., Harmonic for sponsoring! cc: Stasia Obremskey
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IBank California reposted this
I’m proud to be a part of the team that brought this innovative deal to fruition - starting first with the brilliant folks at Blue Forest, and including our partners at CSAA Insurance, demonstrating exactly the kind of foresight and proactivity we need to get ahead of the insurance crisis. And to my state partners - we’ve broken new ground here in showing what a Green Bank can mean for California. Now let’s make the IRA’s #NationalCleanInvestmentFund work for those who need it most.
TODAY: IBank’s #ClimateCatalystFund announces a $25M investment in Blue Forest #CaliforniaWildfireInnovationFund (CWIF). The CWIF will help reduce the severity and frequency of catastrophic wildfires by investing in the forest restoration and biomass utilization sectors across California. Through this commitment, IBank is proud to partner with CSAA Insurance Group, a AAA Insurer – demonstrating a shared commitment to proactively addressing the wildfire crisis at its source, collaborating with CWIF to promote scalable solutions that enhance affordability and animate markets for biomass utilization. Learn more about the investment: https://bit.ly/3yS2Th2 Stay in the loop on IBank’s Climate Catalyst Fund: bit.ly/3AH9sDt
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IBank California reposted this
We are proud to announce that the California Infrastructure and Economic Development Bank’s Climate Catalyst Fund has invested $25 million in Blue Forest’s California Wildfire Innovation Fund, strengthening the state’s commitment to strategic wildfire risk reduction. Blue Forest is excited to partner with IBank California alongside CSAA Insurance Group, a AAA Insurer, in a first-of-its-kind coalition of non-profit, public sector, and insurance industry organizations to invest in forest restoration and economic revitalization efforts for local communities across the state. Read more here: https://lnkd.in/gNXEg3Y9 #wildfiremitigation