CDLACCalifornia Debt Limit Allocation Committee
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On May 28, 2008 the Company received CDLAC approval of its volume cap allocation for $65 million in the tax-exempt bond financing for the Hanford and Riverdale projects and, on July 16, 2008, the Company received approval for an additional $26 million in volume cap allocation for the Bar 20 project.
Since CDLAC launched the program in September 2000, it has awarded more than $262 million in tax-exempt, low-cost bond financing to the Extra Credit Teacher Program offered through the California Housing Finance Agency (CalHFA) and nine local jurisdictions.
We are very pleased to have obtained the allocation from CDLAC for the Bar 20 project and that we will be able to take advantage of the efficiencies of issuing bonds for all three of our California RNG(R) projects concurrently," said Rich Kessel, President and Chief Executive Officer of Environmental Power.