Project

VRD Solid Waste Disposal Revenue Notes (Direct Bank Purchase)

The Garaventa Enterprises, Inc. project closed on November 21, 2023. CPCFA issued $81,705,000 in tax-exempt notes comprised of $30,500,000 in new money and $51,205,000 in refunding the Sereies 2021 outstanding notes previously issued by CPCFA. 

New money note proceeds are being used to develop a new, approximately 92,000 square foot building and associated improvements to comply with SB1383, the California Food Waste Compliance Regulations. Additionally, the project includes the purchase of new equipment to receive and process the food waste that will be added to the new building. To support the new building and associated equipment, a new PG&E interconnection and power island will be installed at the facility. The new interconnection will also support the use of future electric rolling stock. A portion of the note proceeds will be used to complete improvements at 2600 Wilbur Avenue in Antioch and will finance new solid waste disposal equipment.