Children's Hospital Program of 2008 – Children's Hospitals (3rd funding round)

Purpose

The purpose of the program is to improve the health and welfare of California's critically ill children, by providing a stable and ready source of funds for capital improvement projects for children's hospitals.

Description

On November 4, 2008, California voters passed Proposition 3, the Children's Hospital Bond Act of 2008. The purpose of the program is to improve the health and welfare of California's critically ill children, by providing a stable and ready source of funds for capital improvement projects for eligible hospitals. The California Health Facilities Financing Authority (CHFFA) is responsible for administering the program. Language in Proposition 3 identifies 13 children's hospitals in California (referred to as "Children's Hospitals") as eligible for $980 million in funding. The 13 Children's Hospitals designated by statute consist of eight private nonprofit Children's Hospitals and five University of California Children's Hospitals. Grant awards for each private nonprofit Children's Hospital was limited to $98 million, less costs of issuance and administrative costs. Grant awards for each University of California Children's Hospital was limited to 39.2 million, less costs of issuance and administrative costs. Costs of issuance are $0.75 per $1,000 of the authorized grant award, and administrative costs are $5.00 per $1,000 of the authorized grant award. Applications are accepted on an ongoing basis and are due the first business day of each month, except October and November, and will be presented to the Authority the following month. For the month of October, applications are due October 7. Applications received on October 7 will be presented for Authority consideration at a regularly scheduled meeting in December or January. Applications are not accepted in November. Applications shall be submitted in duplicate to the Authority. Currently, each University of California Children's Hospital may apply more than once for the available grant funds. Submit completed Application by mail or in-person to: California Health Facilities Financing Authority Children's Hospital Program 901 P Street Room #313 Sacramento, CA 95814