When the CSAC Finance Corporation was formed in 1986 for the purpose of providing a public benefit no one would have guessed just how expansive the organization would become. In response to queries from counties regarding financing assistance, the CSAC Finance Corporation was formed and started creating a chain of public/private partnerships that have now spanned close to three decades and have grown to provide an impressive amount of public benefit to California Counties and residents.
It all started with an idea. In 2003 a group of county treasurers and other local finance officers came together to discuss investment options. Looking for a safe investment vehicle other than the state pool, a concept for a new investment pool, created and governed by local officials, came to the table. This idea originated the Investment Trust of California; commonly known as CalTRUST.
If imitation is the sincerest form of flattery, then U.S. Communities ought to be blushing. It was the first – and for a while the only – purchasing cooperative for local governments. Now, the field is crowded with wannabes that claim to save money and streamline purchasing for local governments. But seven key facts distinguish U.S. Communities from the others.
As we look back on 2012, the CSAC Finance Corporation is pleased to reflect on the continued success of our programs. Our CalTRUST investment pool, CSCDA finance programs and U.S. Communities purchasing program continued their long history of assisting public agencies and we saw our newest program, Coast2Coast Rx grow rapidly.
The California Statewide Communities Development Authority (CSCDA), a program of the CSAC Finance Corporation, unveiled two new energy programs in September; the CaliforniaFIRST program and the Sustainable Energy Bond Program.