California Code, Welfare and Institutions Code - WIC § 10309.3

(a) There is a serious shortage of quality child day care and preschool facilities throughout the state.

(b) It is in the interest of the state's children and families, and the state's economic growth, to encourage the expansion of existing child day care and preschool facilities by assisting communities and interested government and private entities to finance child day care and preschool facilities.

(c) In addition to regional resource centers described in Provision 7(d) of Item 6110-196-0001 of the Budget Act of 1999, which focus on developing child care capacity in underserved areas of the state, there is a need to access capital for facilities on a systematic basis, especially to use limited public sector funds to leverage a greater private sector role in financing child day care and preschool facilities.  The Legislature finds and declares that a financial intermediary could fill this role and support the regional resource centers and other local entities that work with potential providers by functioning as a centralized repository of training, best practices, and expertise on facilities financing.