Cal Cities-sponsored bond agency issues over $20 million in tax-exempt, multifamily affordable bonds for housing

The California Statewide Communities Development Authority (CSCDA) issued $20,013,627 in tax-exempt, multifamily affordable housing bonds for the city of Oxnard.

Casa Aliento Apartments is the new construction of 70 housing units — 69 studio apartments and one manager’s unit. The apartments will be rent-restricted for extremely low-income individuals, people experiencing homelessness, and households earning less than 30% of the area median income.

CSCDA worked with Oxnard and others to provide the housing bonds. The financing for the apartments requires the affordability of units for extremely low-income tenants to be maintained for 55 years.

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.