Cal Cities-sponsored bond agency issues $10 million in tax-exempt nonprofit bonds

By Cal Cities Staff

The California Statewide Communities Development Authority (CSCDA) issued $10 million in tax-exempt 501c3 nonprofit bonds for the city of Rancho Cucamonga.

Pepperwood Apartments is the rehabilitation of 230 affordable housing apartments. The apartments will remain 100% affordable and provide studio, one-, and two-bedroom apartments to very low and low-income residents.

CSCDA worked with Rancho Cucamonga and others to provide the bonds. The apartments will undergo extensive interior and exterior renovation, ensuring residents a safe, updated, and affordable community for years to come.

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.