Cal Cities-sponsored bond agency issues over $59 million in affordable housing bonds

The California Statewide Communities Development Authority (CSCDA) issued $59,450,000 in tax-exempt bonds to benefit Moldaw Residences, a multilevel continuing care retirement community in Palo Alto.

Moldaw Residences operates 170 independent living apartments and 23 assisted living and memory care units. The community offers a full continuum of care, including licensed assisted living, memory care, hospice services, and partnerships with skilled nursing facilities. These services ensure residents can remain at Moldaw throughout the end of their lives.

CSCDA worked with Palo Alto and others to provide the refinanced housing bonds.

About CSCDA

CSCDA is a joint powers authority created in 1988 and is sponsored by the League of California 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 the organization’s  website to learn how CSCDA can help your city.