Cal Cities-sponsored bond agency issues over $30 million in tax-exempt and taxable affordable housing bonds

By Cal Cities Staff

The California Statewide Communities Development Authority (CSCDA) issued $30,750,000 in tax-exempt and taxable affordable housing bonds for the city of Dixon.

Prospera at Homestead is the new construction of 108 affordable housing units. Each of the two- and three-bedroom units will be rent-restricted for low and extremely low-income residents — people earning less than 30%, 50%, and 60% of the area median income.

The joint powers authority worked with Dixon and others to provide the bonds. The financing requires the affordability of the units for low and extremely low-income tenants to be maintained for 55 years.

CSCDA was 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.