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Hold annual meeting of the Board of Directors for the Solano County Facilities Corporation; and Elect new officers for calendar year 2026
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Published Notice Required? Yes ____ No _X _
Public Hearing Required? Yes ____ No _X _
DEPARTMENTAL RECOMMENDATION:
It is recommended that the Board of Directors for the Solano County Facilities Corporation hold its mandatory annual meeting on January 6, 2026, and elect new officers for calendar year 2026 to reflect changes in personnel.
SUMMARY:
As established in the Bylaws for the Solano County Facilities Corporation (SCFC), the annual meeting date and the election of new officers occurs on the first Tuesday meeting of the Solano County Board of Supervisors held in January which is the same date that members of the Board of Supervisors assume/change office.
The current authorized officers of the Facilities Corporation are: Mitch Mashburn, President/CEO; Monica Brown, Vice President; Cassandra James, Director; Wanda Williams, Director; John Vasquez, Director; Ian Goldberg, Secretary; and Janine Harris, Fiscal Officer. In addition, Carrie Blacklock is designated as the Agent for Service of Process.
It is recommended that the SCFC Board of Directors hold the annual meeting and elect new officers for the positions of President, Vice President, Secretary and Fiscal Officer for calendar year 2026. Consistent with SCFC bylaws and past practice, the President is the newly appointed Chair of the Board of Supervisors, the Vice President is the newly appointed Vice Chair of the Board of Supervisors, the Secretary is the Clerk of the Board, and the Fiscal Officer is the County Auditor-Controller.
FINANCIAL IMPACT:
There is no cost associated with the election of new officers
There was no cost associated with the preparation of the Facilities Corporation’s State of California Annual Report of Financial Transactions of Special Districts (form LGFA 80).
The costs associated with preparing the agenda item are nominal and absorbed by the General Services Department FY2025/26 Working Budget.
DISCUSSION:
The Solano County Facilities Corporation, a nonprofit corporation, was initially formed on June 8, 1994 to finance $9,350,000 (1994 Certificates of Participation, or COPs) for the purchase/remodel of Solano Park Health Facility and the adjacent 7.7 acres of property. The remodel of the facility was completed in late spring of 1998.
In December 1998, the SCFC financed $7,935,000 (1998 COPs) for the acquisition of the Automated Courts Management System (ACMS) and the construction of the Courts Expansion Project. The ACMS purchase was completed in September 1999 and the Courts Expansion Project was completed in October 2000.
In May 1999, the SCFC financed $31,710,000 (1999 COPs) for refunding of the 1994 COPs, the purchase a 4.89-acre parcel of land, the demolition of the Old County Hospital Site buildings, and the construction of a new Health & Social Services (H&SS) Headquarters Building. The demolition project included fifteen structures at the Old County Hospital Site that were demolished. The Notice of Completion for the new H&SS Headquarters Building was filed on December 10, 2003.
On May 22, 2001, the SCFC approved financing in the amount of $21,285,000 (2001 Refunding COPs) to refund a prior issuance of the Solano County Building Corporation (the 1993 COPs) that had been used to fund the Solano County Justice Facility and Public Building Improvements Project. Proceeds from the financing were received on July 5, 2001, and the 1993 COPs were refunded on October 1, 2005.
In November 2002, the SCFC financed $118,325,000 (2002 COPs) for construction of the new Government Center in downtown Fairfield (6-story office building, parking garage and Probation building), expansion of the County’s Cogeneration Plant, remodel of the Fairfield Library, and a $1,300,000 loan to the Vacaville Library District. The Notice of Completion for the Main Roof and Upper Exterior Wall Remodel of the Fairfield Library was filed on October 4, 2004. The Notice of Completion for the new Government Center project was filed on August 2, 2005 and the Notice of Completion for the Cogeneration Plant project was filed on December 12, 2006.
In February 2007, the 2002 COPs were refinanced due to lower interest rates. However, due to prepayment restrictions, the proceeds from the refinancing were held in an escrow account until the 2002 COPs call date of November 1, 2012. The call date materialized on November 1, 2012 and the County paid off the 2002 COPs.
In November 2009, the 1999 COPs were refinanced in the amount of $16,745,000 due to lower interest rates (2009 COPs). The 2009 COPs were paid off on November 15, 2019.
In April 2013, the SCFC financed $5,420,000 (2013 COPs) of which $5,250,000 was for the development of the Animal Care Expansion Project and $170,000 for the Animal Care Re-Roof Project at 2510 Clay Bank Road in Fairfield. The current outstanding balance on the 2013 COPs is approximately $905,000 and is anticipated to be paid off in November of 2027.
In September 2017, the 2007 COPs were refinanced in the amount of $72,775,000 due to favorable interest rates and to achieve debt service savings. The 2007 COPs were paid off on November 1, 2017. The current outstanding balance on the 2017 COPs is approximately $27,490,000 and is anticipated to be paid off in November of 2030.
In September 2021, the SCFC financed $30,000,000 (2021 COPs) for the Energy Conservation and Generation Project to finance the installation of a range of energy related improvements at various County facilities (ex: energy efficient lighting, new energy/HVAC management systems, microgrid/battery resiliency improvements, photovoltaic systems, and electric vehicle charging stations). The current outstanding balance on the 2021 COPs is $26,325,000 and is anticipated to be paid off in October of 2041.
Please see Attachment A for a detailed summary of these actions.
The State of California Annual Report of Financial Transactions of Special Districts (form LGFA 80) for the fiscal year ending June 30, 2025 will be filed by the January 31, 2026 deadline following the audit of the County financial statements.
Per the Facilities Corporation bylaws, the officers are the President, a Secretary and a Chief Financial Officer, along with any other subordinate officers the Board of Directors may desire to elect, which has historically included a Vice-President.
ALTERNATIVES:
The Board of Directors could choose to defer the election of new officers to another meeting date. This is not recommended since the January 6th meeting date allows the election of new officers for the Facilities Corporation to occur on the same date that new officers for the Board of Supervisors assume office.
OTHER AGENCY INVOLVEMENT:
The Auditor-Controller’s Office provided information and County Counsel has been consulted in the development of this item.
CAO RECOMMENDATION:
APPROVE DEPARTMENTAL RECOMMENDATION