Scotiabank Selected for La Terrazza Credit Facility

For the La Terrazza Apartments bond financing, the borrower plans to engage Scotiabank to provide a standby letter of credit as the replacement credit facility under the existing Indenture. This financial services arrangement will support ongoing credit enhancement for the $25.175 million variable rate demand multifamily housing revenue bonds without incurring new debt.

Document date · August 20, 2026

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Scope & details

The full contract record, as filed.

Contract type

FINANCIAL_SERVICES

Renewal

Standby letter of credit will replace the existing Fannie Mae credit enhancement; term and renewal features are governed by the Indenture and the letter of credit agreement, but specific dates are not provided in the agenda.

Document type

AgendaPacket

Source document

Advancing California Finance Authority AgendaPacket La Terrazza Apartments First Supplemental Indenture of Trust 2026-08-20

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Association of Bay Area Governments?

SCOTIABANK was awarded this financial services contract by Association of Bay Area Governments, as recorded on August 20, 2026.

What type of contract is this?

This is a Financial Services contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in Advancing California Finance Authority AgendaPacket La Terrazza Apartments First Supplemental Indenture of Trust 2026-08-20 (AgendaPacket), dated August 20, 2026 from Association of Bay Area Governments. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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