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California Health Facilities Financing

Staff Evaluation Process

  • Staff diligence pursuant to Government Code § 15437(b): "The authority shall establish financial eligibility standards by studying the creditworthiness and earning capacity of each project, together with the amount of pledged revenues, debt service coverage, and basic security."
  • Work compiled in staff report
    • Sample staff report form
    • Draft report will be provided to Borrower, Underwriter, Bond Counsel, CHFFA's Financial Analyst and Attorney General for review and comment
    • Final report sent to Authority members seven days prior to meeting
  • Staff makes recommendation but Authority retains discretion
    • If applicable, staff report recommendation will be subject to Cal Mortgage Loan Committee Approval