Apply online!

CSCDA Issues $4,700,000 in Tax-Exempt Bonds for Camellia Place II Apartments


July 28, 2017

The California Statewide Communities Development Authority (CSCDA) is pleased to announce the issuance of $4,700,000 in tax-exempt multi-family affordable housing bonds for Camellia Place II Apartments in Kern County, California.

About Camellia Place II Apartments:

Camellia Place II Apartments (the “Project”) is the new construction of 15 affordable housing units by Corporation for Better Housing.  The benefits of the Project for Kern County include the following:
 
  • 100% of the affordable rental housing units will be rent restricted for low-income tenants.
  • The Project consists of 15 single family style buildings with attached garages, backyards and up-to-date appliances.
  • There will be 4 three-bedroom units and 11 four-bedroom units.
 
About the Financing:

CSCDA and Corporation for Better Housing partnered with Pacific Western Bank and Orrick, Herrington & Sutcliffe, LLP to provide $4,700,000 in tax-exempt multi-family affordable housing bonds for the Project.  The financing for the Project requires the affordability of units for 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 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 $58 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 Corp. for Better Housing, please visit: www.corpforbetterhousing.com
 
CLICK HERE to download a PDF version of this announcement


  <- Back to: News

FOUNDED AND SPONSORED BY
California State Association of Counties   League of California Cities