0977 Health Facilities Financing Authority
Program Descriptions

30 - CHILDREN'S HOSPITAL PROGRAM

On November 2, 2004, the voters approved Proposition 61, which established the Children's Hospital Program. The purpose of the Children's Hospital 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. Proposition 61 designated the California Health Facilities Financing Authority (CHFFA) as the administering agency and authorized CHFFA to grant $750 million to eligible children's hospitals. Funding for this program is provided through the issuance of general obligation bonds. CHFFA developed, through regulations, selection criteria and a process for awarding grants. Applications and funding will be available through 2014, or until program funding is exhausted. In the event funding is not exhausted by 2014, CHFFA will amend the regulations to extend the program. As of June 30, 2007, CHFFA has disbursed $159.3 million to eight hospitals.