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FINANCIAL_SERVICESAPPROVED

California Enterprise Development Authority Regular Meeting Agenda Packet March 2023

CEDA partners with Farmers & Merchants Bank on museum loan

Not to exceed $50,000,000 (Authority Loan corresponding to Borrower Loan)California Enterprise Development AuthorityFARMERS & MERCHANTS BANK OF LONG BEACHMarch 2, 2023

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WithersRavenel logo
Derivita logo
Comcate logo
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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
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Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
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Description

The California Enterprise Development Authority authorized an Authority Loan agreement with Farmers and Merchants Bank of Long Beach to provide up to $50,000,000 in tax-exempt financing for Holocaust Museum LA. The bank will supply the loan proceeds, with borrower payments pledged to repay the Authority’s obligation.

Contract Details

Contract Amount

Not to exceed $50,000,000 (Authority Loan corresponding to Borrower Loan)

Vendor

FARMERS & MERCHANTS BANK OF LONG BEACH

Agency

California Enterprise Development Authority, CA

Contract Type

FINANCIAL_SERVICES

Document Date

March 2, 2023

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