Cal Cities-sponsored bond agency issues $95 million in tax-exempt bonds for housing in Glendale

The California Statewide Communities Development Authority (CSCDA) announced the issuance of $95,641,006 in tax-exempt Essential Housing Revenue Bonds to acquire Towne at Glendale Apartments in Glendale.

The 126-unit multifamily residential rental community includes 206 parking spots, a fitness center, business center, theatre room, game room, sun deck, pool and spa, children’s play area, and an outdoor seating area.

The joint powers authority partnered with the city of Glendale and others for the issuance of bonds. One-, two-, three-, and four-bedroom units will be restricted for households earning less than 80%, 100%, and 120% of the median area income.

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.