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CSCDA Issues $14,000,000 in Tax-Exempt Bonds for the Casa Blanca Apartments

April 1, 2016

The California Statewide Communities Development Authority (CSCDA) is pleased to announce the issuance of $14,000,000 in tax-exempt multifamily affordable housing bonds for the Casa Blanca Apartments in Antioch, California.
 
About Casa Blanca Apartments:

Casa Blanca Apartments (Casa Blanca) is an acquisition and rehabilitation of 115 multifamily affordable housing apartments by LIH Casa Blanca Antioch, LP.  The project sponsor is Levy Affiliated Holdings (Levy), which partnered with Central Valley Coalition for Affordable Housing (CVCAH) and WNC & Associates, Inc. (WNC), who is providing the equity to renovate Casa Blanca for working families in Antioch, California.  Casa Blanca will continue to be 100% affordable and provide one-bedroom and two-bedroom apartments to low-income residents.

About the Financing:

CSCDA, Levy, CVCAH and WNC partnered with Citibank to provide tax-exempt multifamily affordable housing bonds for Casa Blanca.  The rehabilitation will include roof and gutter repairs, replacement of windows, new paint, cabinets, countertops, kitchen appliances, lighting fixtures, heating and air-conditioning units. The rehabilitation will also include ADA upgrades and new landscaping.  The financing of Casa Blanca will maintain the affordability of units for low-income 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 Levy, please visit: www.levyaffiliated.com
For more information about WNC, please visit: www.wncinc.com

Click Here to Download a PDF Version of this Announcement

 

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