In 1978, ABAG created the Finance Authority for Nonprofits, or FAN, to provide conduit financing for the capital financing needs of local jurisdictions. Since then, FAN has provided $8 billion in low cost investment capital for affordable housing, hospitals, schools and other local infrastructure needs.
In 2018, we created a more efficient, user-friendly successor to FAN called Advancing California Financing Authority, or ACFA. The authority provides secure, low cost and convenient financing for public agencies and their partners in the Bay Area.
ACFA helps entities access low cost, tax-exempt bond financing for affordable, multi-family housing; retirement facilities; new hospitals and medical clinics; transit systems; schools; non-proﬁt cultural institutions; water and wastewater systems; and other essential member-owned infrastructure projects serving the community.
Each year ACFA will contribute surplus fee revenue to our general fund to expand ABAG’s successful regional programs and create new ones.
Focus on Affordable Housing
ACFA assists in the construction and preservation of affordable housing and provides direct access to the municipal bond market. This will help fund affordable housing projects and support local and regional housing policies that help local jurisdictions meet their housing needs.
- Low-cost conduit ﬁnancing services
- Operates under enhanced internal accounting controls and procedures
- Staffed by industry professionals experienced in local financing and development challenges
- Ease of execution through on-line application process
- Provides for a convenient and easy conduit borrowing, assisting with ﬁnancing needs
Brad Paul, Deputy Executive Director, Local Government Services, leads the efforts for the ACFA team. In addition to over five years of senior management experience with ABAG and MTC, he has spent much of his career assisting with the planning, permitting, financing and implementation of major housing and mixed-use developments in the Bay Area.
Mr. Paul works closely with ABAG and MTC’s Chief Financial Officer, Brian Mayhew, and the Treasury Director, Susan Woo, along with ACFA's legal and financing consultants.
Brad Paul, ABAG and MTC
Deputy Executive Director
Susan Woo, ABAG and MTC
Max Lelu, ABAG and MTC
Angelica Valencia, Nixon/Peabody
ACFA Legal Counsel
Public Financial Management (PFM)
ACFA Financial Advisors