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Dear Friends,
In the heat of August you might find yourself thinking about upgrading to a more efficient energy system for your home or business. If so, this newsletter is for you. Working with investor-owned utilities we offer a credit enhancement that makes heating and cooling upgrades affordable. Read how the ‘Hub’ can help you or your business on page five.
Of course, to worry about heating and cooling a home you first need to own one. Sadly, home ownership is out of reach of many – especially families in the “missing middle.” These are people in the housing market’s hollowed out center, trapped between the bookends of unaffordable, high-priced homes and lower costing alternatives for which they don’t qualify because their incomes are too high.
I suspect there may be more creative, out-of-the-box ideas and strategies about how to help this missing middle than we are aware. We’re just not hearing them. So I invite you to help. And spread the word. We’re looking for great ideas and strategies! Read more on page four.
Lastly, an important reminder to women that California requires publicly owned companies headquartered here to have a certain number of women on their boards of directors by the end of 2021. Interested? Good! Read page two to learn how to add your name to my registry of interested women and to take part in an upcoming online workshop that will cover everything you need to know to approach a company about a board seat.
Click to Read the Full Letter
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Dear Fiona,
I read that you created a registry for women interested in serving on corporate boards. I am an executive with an extensive background in accounting and finance. I have worked for large global corporations as well as start-ups and I currently serve as CFO for a private corporation. I would love to serve on a corporate board, but I am finding it difficult to get traction. How do I add my name to your registry? Also, what tips can you share in how to bolster my board potential and better position myself for board service?
– Cora
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Nancee Robles Appointed CPCFA Executive Director
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California State Treasurer Fiona Ma appointed Nancee Robles executive director of the California Pollution Control Financing Authority (CPCFA). The authority provides low-cost innovative financing to California businesses and issues tax-exempt private activity bonds to qualified waste and recycling projects, as well as to projects that control pollution and improve water supply.
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Wanted: Your Out-of-the-Box Strategies for Housing California’s ‘Missing Middle’
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Communities across California have taken an economic hit in the wake of shelter-in-place orders made necessary by the spread of COVID-19. In high-profile moves, government policymakers immediately stepped in to support and provide relief to businesses large and small. Not as well-publicized are the creative steps taken by local business owners and economic development organizations. One such effort in Santa Cruz known as “Ride Out the Wave” could be a blueprint for other communities.
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California Hub for Energy Efficiency Financing (CHEEF)
These dog days of August are a reminder that California summers can take a heavy toll on home and work cooling costs, not to mention the state’s power grid, as people struggle to cope with the heat. Because of the pandemic we are spending even more time at home and many of us are seeing our electric bills spike higher as a result. In just a few months, most of us will be turning on the furnace to stave off the winter chill, bringing on another increase in energy use, another round of high bills.
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Calendar of Upcoming BCA Events
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Board, Commissions and Authorities (BCAs) within the State Treasurer’s Office
August 7
California Debt Limit Allocation Committee
9 AM | 915 Capitol Mall, Room 587, Sacramento, CA
Public Participation Call-In Number* (888) 557-8511 | Participant Code: 5651115
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Teleconference information, other scheduled BCA meetings, agendas, deadlines for grants, and more, may be accessed as the information is posted or updated on the Treasurer’s website: https://www.treasurer.ca.gov/
Additional BCA meetings in August: CalABLE (Aug. 18), CDLAC (Aug. 7), CHFFA (Aug. 27), CSFA (Aug. 27). Meeting date and times may change; please check the BCA links included here for such notices, as well as for teleconference details.
BCA webinars in August: CalABLE (Aug. 19) | CalSavers (weekly) | CSFA (Aug. 25) | ScholarShare (Aug. 19)
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Note:* The State Treasurer’s Office provides essential services for the citizens of California. As we work to further protect the health of our community in response to COVID-19, the BCAs are modifying standard committee meeting procedures. Participants, interested parties, and non-essential staff are requested to join the meeting via teleconference. Further, social distancing measures will be put in place at the meeting location, which will substantially limit the space available for in-person attendees. Public participation and comment periods will not be impacted.
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ScholarShare 529 Creditor Protection
Senate Bill 898, Bob Wieckowski (D-Fremont) https://sd10.senate.ca.gov
Would exempt higher education ScholarShare 529 college saving accounts from creditors outside of bankruptcy cases.
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July 9
The Regents of the University of California General Revenue Bonds, 2020 Series BE, BF (Taxable) and BG (Taxable) ($2.65 billion)
Proceeds of the $2,650,000,000 sale will finance working capital purposes, finance various capital projects, refinance outstanding commercial paper and refinance previously issued bonds for debt service savings. The tax-exempt series BE bonds consist of maturities from 2021 to 2050, with yields ranging from 0.15 percent to 2.50 percent. The taxable series’ BF and BG bonds consist of maturities from 2021 to 2040 with yields ranging from 0.33 percent to 2.50 percent. The combined all-in true interest cost was 2.15 percent.
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Treasurer Ma has handed out 30,000 masks to help fight COVID-19 in partnership with the nonprofit Asian Pacific Islander American Public Affairs (APAPA) group. Ten thousand masks went to the I Am Sac Foundation run by Stevante Clark, seen here with the Treasurer.
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Updating participants in Hayward Rotary Club’s monthly meeting on the response of the State Treasurer’s Office to COVID-19 and federal stimulus programs. Left–to-right, Noah Starr of the Treasurer’s External Affairs Team, Hayward City Councilmember Sara Lamnin, Hayward City Mayor Barbara Halliday, Assemblymember Bill Quirk, and Rotary Club members Mona Diamantine and Ed Avelar.
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The Santa Clarita Valley Chamber of Commerce hosted a virtual roundtable with (left-to-right) Office of the Small Business Advocate Director Isabel Guzman, Chamber President and Chief Strategist John Musella, Treasurer Ma, Santa Clarita Assemblywoman Christy Smith, and California Lieutenant Governor Eleni Kounalakis. The roundtable focused on how to help California rebuild in the wake of COVID-19.
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Treasurer Ma was the keynote speaker for a webinar on “The Impact on Economics and Health Under COVID-19.” The event was co-hosted by the National Association of Chinese American Bankers (NACAB) and the Chinese American Professional Association (CAPA). Not visible are NACAB President Sandy Ho and CAPA Chairman Sherman Lee.
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Taking part in speed networking with the Orange County Business Council as part of their Sacramento Virtual Advocacy Summit are (top row, left-to-right) Senior Vice President of Advocacy and Government Affairs Jennifer Ward, President and CEO Lucy Dunn, and California Secretary of State Alex Padilla. To the right of Treasurer Ma (bottom row) is HNTB Chief Sales Officer Kevin Haboian.
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