Colorado Educational and
Cultural Facilities Authority

The Colorado Educational and Cultural Facilities Authority (CECFA), which was created by the Colorado General Assembly, provides financing for colleges, universities, certain secondary schools, charter schools, and other educational institutions, as well as financings for cultural entities. CECFA also permits multistate financings upon the satisfaction of certain requirements

A broad range of facilities can be financed, such as housing facilities, instructional facilities, administration buildings, research facilities, laboratories, auditoriums, dining halls, food service and preparation facilities and recreational facilities. There are generally no limits to the size of the CECFA's financing.

Benefits of CECFA

• Expertise: CECFA has substantial expertise and experience in financing non-profits, and can provide broad technical assistance in all aspects of the bond financing.
  
  
• Competitive Fees: The fees charged by CECFA are competitive in the field, and in many cases are less than the comparable cost of hiring or retaining separate consultants. Click here for schedule of fees.

Benefits of Tax Exempt Financing

• Lower Interest Rates: Historically, tax-exempt rates have been 20% to 25% below taxable rates, which can translate into substantial interest savings over taxable financing.
  
  
• Tax Exempt Bonds: CECFA issues tax-exempt revenue bonds, notes, or other obligations and loans the proceeds from the sale of these obligations. By borrowing on a tax-exempt basis rather than funding capital expenditures from internal funds, these savings can, in some cases, be used to fund operations or build endowments. In addition, the liquidity of the borrower is maintained for future contingencies. Click here to find out more about CECFA bonds.
  
  
• Uses of Funds: This capital may be used to acquire, construct, reconstruct, repair, alter, improve, extend, own, lease, and dispose of properties and to refinance outstanding obligations.

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CECFA is not a state agency and receives no state appropriations