Cal Cities-sponsored bond agency issues over $28 million in affordable housing bonds

By Cal Cities Staff

The California Statewide Communities Development Authority (CSCDA) has issued $28,499,400 in tax-exempt bonds for a project in Red Bluff.

Palm Villas is a new construction of 61 affordable housing units. The one-, two-, and three-bedroom units will be 100% rent restricted for extremely low-income and low-income residents. Units will be reserved for families earning less than 30% and 60% of the area median income. The affordability of the units will be maintained for 55 years.

CSCDA worked with the city and others to provide the housing bond.

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.