Cal Cities-sponsored bond agency issues $50 million in tax-exempt bonds for affordable housing in Santa Clara
Jun 23, 2021
New affordable housing in the city of Santa Clara will be constructed for low-income residents, with more than $76.4 million in tax-exempt affordable housing bonds issued through the California Statewide Communities Development Authority (CSCDA).
About Agrihood Senior Apartments
Agrihood Senior Apartments in Santa Clara is the new construction of 165 senior affordable housing units. All of the of the studio, one-, and two-bedroom apartments are rent restricted for low- and very-low-income senior tenants. Units will be reserved for households earning less than 30%, 40%, and 60% of the area median income.
CSCDA and the project sponsor, The Core Companies, partnered with Capital One, J.P. Morgan Chase, and Orrick Herrington & Sutcliffe LLP to provide $50 million in affordable housing bonds for project.
The affordable housing project in the city of Santa Clara will consist of new construction ensuring that residents have an updated, safe, and affordable community to call home for years to come. The financing for these projects will maintain the affordability of units for low- and very-low-income tenants for 55 years.
Since its beginning, CSCDA has financed the construction or preservation of nearly 100,000 affordable units throughout California. Despite these efforts, affordable housing for all income levels still remains in short supply.
The League of California Cities’ co-sponsorship of CSCDA continues to be a significant benefit for Cal Cities members. CSCDA has issued more than $63 billion in tax-exempt bonds for projects that provide a public benefit by creating jobs, affordable housing, healthcare, infrastructure, schools, and other fundamental services.
CSCDA is a joint powers authority created in 1988 and is sponsored by Cal Cities and the California State Association of Counties. More than 530 cities, counties, and special districts are program participants in CSCDA, which serves as their conduit issuer and provides access to efficiently financed, locally-approved projects.
Visit CSCDA’s website for additional information on the ways in which CSCDA can help your city.
Agrihood Senior Apartments in Santa Clara is the new construction of 165 senior affordable housing units. All of the of the studio, one-, and two-bedroom apartments are rent restricted for low- and very-low-income senior tenants. Units will be reserved for households earning less than 30%, 40%, and 60% of the area median income.
CSCDA and the project sponsor, The Core Companies, partnered with Capital One, J.P. Morgan Chase, and Orrick Herrington & Sutcliffe LLP to provide $50 million in affordable housing bonds for project.
The affordable housing project in the city of Santa Clara will consist of new construction ensuring that residents have an updated, safe, and affordable community to call home for years to come. The financing for these projects will maintain the affordability of units for low- and very-low-income tenants for 55 years.
Since its beginning, CSCDA has financed the construction or preservation of nearly 100,000 affordable units throughout California. Despite these efforts, affordable housing for all income levels still remains in short supply.
The League of California Cities’ co-sponsorship of CSCDA continues to be a significant benefit for Cal Cities members. CSCDA has issued more than $63 billion in tax-exempt bonds for projects that provide a public benefit by creating jobs, affordable housing, healthcare, infrastructure, schools, and other fundamental services.
CSCDA is a joint powers authority created in 1988 and is sponsored by Cal Cities and the California State Association of Counties. More than 530 cities, counties, and special districts are program participants in CSCDA, which serves as their conduit issuer and provides access to efficiently financed, locally-approved projects.
Visit CSCDA’s website for additional information on the ways in which CSCDA can help your city.