Project Description

Alvarado Street Bakery: Sonoma County

$8,500,000 tax-exempt industrial development bonds and $3,025,000 Company funds for the acquisition of land, building, and equipment.

Alvarado Street Bakery, a wholesale bakery specializing in organic whole grain breads, and baked goods, received industrial development bond financing to expand and double its food processing capacity. The company had outgrown its current space and was seeking to expand into larger industrial space to meet customer demand and create 20 new jobs. Alvarado Street Bakery purchased 68,000 square fee of industrial space, with such improvements as a 3,000 square foot freezer, and a new $1 million oven. The lower interest rates and longer term of industrial development bond financing enabled Alvarado Street Bakery to undertake this expansion in order to meet the fast-paced market demands of the food service industry.