LOS ANGELES — Bridge Strategic Partners has become the California Statewide Communities Development Authority's new program administrator.
CSCDA, a conduit issuer created in 1988, said it selected the Walnut Creek, Calif.-based company after a six-month request for proposals process. More than 500 cities, counties and special districts are program participants in CSCDA, which has issued more than $50 billion in tax-exempt bonds.
"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."
