CSAC Bulletin Article

CSAC Finance Corporation News
Scholarship, New Product Savings, and Economic Development Opportunities

February 16, 2017

Nationwide Offers Scholarships

Nationwide and the National Association of Counties (NACo) want high school seniors to understand the importance of saving early for retirement. Nationwide will award four college scholarships - each worth $2,500 – to four high school seniors whose parents or grandparents participate in a NACo Deferred Compensation 457 plan. If your county participates in our Nationwide program please spread the word among your staff. Students can apply via the website: www.nrsforu.com. CSAC and the CSAC Finance Corporation are proud of our long relationship with Nationwide to offer enhanced retirement services to county employees.

U.S. Communities–New Amazon Contract

U.S. Communities is excited to announce a new contract for online marketplace with Amazon Business. Amazon Business has been awarded an exclusive multi-year contract through a competitive solicitation process and detailed evaluation conducted by lead public agency, To learn more about this new contract, register for a complimentary 30-minute webinar which are being held on February 22nd at 8am and February 23rd at 10am

This contract is everything you love about Amazon, with the compliance you trust from U.S. Communities. With access to millions of products, tax-exempt purchasing and dynamic pricing, Amazon Business is a powerful procurement option for your organization. Drive efficiencies and ensure compliance through these Amazon Business features:

  • Multi-user accounts: Connect your team, create purchasing groups to match your organization structure and share payment methods.
  • Approval workflows: Customize your order approvals, set spending limits and manage your organization’s buying on Amazon Business.
  • Reporting and analytics: Track and monitor spending within your organization with dynamic charts and data tables.

Join us for a 30-minute webinar to learn more about what Amazon Business has to offer. If you are unable to attend one of the webinar dates, contact us for additional information.

California Statewide Communities Development Authority

The California Statewide Communities Development Authority (CSCDA) is currently soliciting potential pipeline projects in connection with its 2017 application for New Markets Tax Credits. Through the California Statewide Communities Development Corporation, CSCDA’s subsidiary Community Development Entity, CSCDA has successfully received three awards totaling $143 Million in New Markets Tax Credit (NMTC) allocation and has successfully deployed this valuable subsidy into communities in need throughout the State. CSCDA looks forward to continuing to provide a critically important funding gap to quality eligible projects throughout California next year. The NMTC Program, passed by Congress in 2000, encourages investments in low-income communities by providing a tax incentive for community development lenders and the capital markets to invest in communities that historically have had poor access to capital. Eligible project types include community facilities, charter schools, healthcare facilities, manufacturing facilities, operating businesses, commercial real estate developments located within eligible low-income neighborhoods throughout California. NMTCs will generate up to 20% of the capital required for these projects and businesses. Often that is the difference that will make a desirable project feasible. If you are aware of any potential projects that could use New Markets Tax Credits or otherwise have any additional questions on how the program can help your community, please contact Jon Penkower of CSCDA at(925) 476-5887 or jpenkower@cscda.org.

For more information on these or any CSAC Finance Corporation programs please contact Alan Fernandes at (916) 650-8120 or alan@csacfc.org or Laura Labanieh at (916) 650-8186 or laura@csacfc.org.

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