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CSCDA Issues $36,800,000 in Tax-Exempt Bonds for the Bouquet Canyon Senior Apartments


December 18, 2015

The California Statewide Communities Development Authority (CSCDA) is pleased to announce the issuance of $36,800,000 in tax-exempt multifamily affordable housing bonds for the Bouquet Canyon Senior Apartments in Santa Clarita, California.
 
About Bouquet Canyon Senior Apartments:
Bouquet Canyon Senior Apartments (Bouquet Canyon) is an acquisition and rehabilitation of 264 multifamily affordable housing apartments by Vintage at Bouquet Canyon, LP.  The project sponsor is Vintage Housing.  Bouquet Canyon will continue to be 100% affordable and provide 183 one-bedroom and 81 two-bedroom apartments to low-income senior residents in Santa Clarita, California.

About the Financing:
CSCDA and Vintage Housing partnered with Citibank to provide tax-exempt multifamily affordable housing bonds for Bouquet Canyon.  The rehabilitation will include new interior and exterior lighting, new flooring and carpeting in all units and common areas, new interior and exterior paint in all units and common areas, new energy efficient appliances and water conserving plumbing fixtures in all units, new roof covering, new kitchen cabinets and countertops in all units, new bathroom fixtures in all units, new windows, a new security system and refurbishment of all existing community areas.  Additionally a computer room and movie theater room will be added as well as new outdoor furniture and a new sports court.  The financing of Bouquet Canyon will maintain the affordability of units for low-income senior tenants for 55 years.    
 
About CSCDA:
CSCDA is a joint powers authority created in 1988 and is sponsored by the California State Association of Counties and the League of California Cities.  More than 500 cities, counties and special districts are program participants in CSCDA, which serves as their conduit issuer and provides access to efficiently finance locally-approved projects.  CSCDA has issued more than $50 billion in tax exempt bonds for projects that provide a public benefit by creating jobs, affordable housing, healthcare, infrastructure, schools and other fundamental services.
 
For more information about CSCDA please visit: www.cscda.org
 
For more information about Vintage Housing please visit: www.vintagehousing.com

Click Here to download a PDF version of this announcement


 

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