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CSCDA Issues $16,300,000 in Tax-Exempt Bonds for Casa Ramon Apartments


February 17, 2017

The California Statewide Communities Development Authority (“CSCDA”) is pleased to announce the issuance of $16,300,000 in tax-exempt multifamily affordable housing bonds for the Casa Ramon Apartments in Orange, California.
 
About Casa Ramon Apartments:

Casa Ramon Apartments (“Casa Ramon”) is an acquisition and rehabilitation of 75 multifamily affordable housing apartments by 840 W Walnut, LP.  The project sponsor is C&C Development and the Orange Housing Development Corporation (“OHDC”).  Casa Ramon will continue to be 100% affordable and provide apartments to low-income residents in Orange, California.
 
About the Financing:

CSCDA, C&C Development and OHDC partnered with RBC Capital Markets to underwrite the $16.3 million in tax-exempt multifamily affordable housing bonds for Casa Ramon.  The project will undergo an extensive interior and exterior renovation ensuring that residents have an updated, safe, and affordable community to call home for years to come.  The financing of Casa Ramon 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 $57 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 C&C Development, please visit: www.c-cdev.com
 
For more information about OHDC, please visit: www.ohdcorp.com

CLICK HERE to download a PDF version of this announcement


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