For Immediate Release – Media Advisory
March 22, 2018
SACRAMENTO – The California Infrastructure and Economic Development Bank (IBank) Board will decide whether to lend $18.5 million through its Infrastructure State Revolving Fund (ISRF) Program to the 22nd District Agricultural Association which manages and operates Del Mar Fairgrounds. The proceeds will be used to finance a 1,900-person indoor concert venue and beverage service facility at the Fairgrounds’ Surfside Race Place. In addition, the financing will pay for an Environmental Remediation Project to improve the existing stormwater quality management program within the Fairgrounds.
The Board will also consider approving $1.2 million of ISRF funding for the Placentia Library District of Orange County. The funds will be used to retrofit the library’s interior lighting, replace its aging HVAC equipment, and install a solar photovoltaic system.
What: IBank Board Meeting
When: March 27, 2018, 2:00 PM
Where: Steinberg Conference Room, 1325 J Street, 17th Floor Sacramento, California 95814. Board Meetings are open to the public. Please be sure to have your government-issued identification (driver’s license) with you for entry into the building.
About the California Infrastructure and Economic Development Bank
IBank was created 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 within the Governor’s Office of Business and Economic Development and is governed by a five-member Board of Directors. IBank has broad authority to issue tax-exempt and taxable revenue bonds, provide financing to public agencies, provide credit enhancements, acquire or lease facilities, leverage State and Federal funds and provide loan guarantees and other credit enhancements to small businesses. Find more information on our website.
Gabrielle Stevenson
Public Information Officer
Email Gabrielle, HERE
