Treasurer Fiona Ma to Visit Loma Linda University Children’s Hospital; Will Present $55 Million
July 25, 2019
Contact: Mark DeSio
WHO: Treasurer Fiona Ma, Loma Linda University Children’s Hospital and National Community Renaissance.
WHEN: Tomorrow - Friday, July 26, 2019 at 10:00 a.m.
WHERE: Loma Linda University Children’s Hospital
11234 Anderson Street
Loma Linda, CA 92354
WHAT: State Treasurer Fiona Ma will present Loma Linda University Children’s Hospital with over $55 million to construct a new 202,985 square foot Children’s Hospital Tower.
“Loma Linda University Children’s Hospital is the only children’s hospital in the Inland Empire and its expansion will improve neonatal care for those babies in need,” said Treasurer Ma.
The California Health Facilities Financing Authority (CHFFA), which approved the grants, is California's vehicle for providing financial assistance to public and non-profit health care providers through loans, grants and tax-exempt bonds.
In order to meet the requirements for CHFFA financing, an institution must be a public hospital, a private non-profit corporation, or an association authorized by the laws of California to provide or operate a health facility and undertake the financing or refinancing of a project. Proceeds from CHFFA financings may be used for the following project related costs: construction, remodeling and renovation, acquisition, purchase or lease of equipment, refinancing or refunding of prior debt, working capital for start-up facilities and costs of bond issuance, feasibility studies & reimbursement of prior expenses.
*Media is encouraged to attend.
Fiona Ma is California’s 34th State Treasurer. She was elected on November 6, 2018 with more votes (7,825,587) than any other candidate for treasurer in the state's history. She is the first woman of color and the first woman Certified Public Accountant (CPA) elected to the position. The State Treasurer’s Office was created in the California Constitution in 1849. It provides financing for schools, roads, housing, recycling and waste management, hospitals, public facilities, and other crucial infrastructure projects that better the lives of residents. California is the world’s fifth-largest economy and Treasurer Ma is the state’s primary banker. Her office processes more than $2 trillion in payments within a typical year. She provides transparency and oversight for the government’s investment portfolio and accounts, as well as for the state’s surplus funds. Treasurer Ma oversees an investment portfolio of more than $96.9 billion, approximately $20 billion of which are local government funds. She serves as agent for sale of all State bonds, and is trustee on over $95.3 billion of outstanding debt.