Bond Financing Profile: Otis College of Art and Design

Otis College of Art and Design

LOCATION: Sacramento and South Lake Tahoe, CA

AMOUNT ISSUED: $35,000,000 – 501(c)(3) Bond

DATE ISSUED: April 4, 2014

ABOUT: Otis College of Art and Design is Los Angeles’s first professional school of art. Proceeds refinance outstanding bonds for interest savings and build new classrooms, an auditorium, a dormitory, and other student services. Along with short-term construction jobs, the college estimates additional jobs in food services, the student store and print shop, maintenance, security and custodial. The project enables the college to maintain and expand its degree-granting programs without increasing tuition.