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CSCDA Issues $25,663,000 in Tax-Exempt Bonds for the Delta View Apartments

February 17, 2016

The California Statewide Communities Development Authority (CSCDA) is pleased to announce the issuance of $25,663,000 in tax-exempt multifamily affordable housing bonds for the Delta View Apartments in Antioch, California.

About Delta View Apartments:
Delta View Apartments (Delta View) is an acquisition and rehabilitation of 205 multifamily affordable housing apartments by Delta View Family Apartments, LP.  The project sponsor is ROEM Development Corporation (ROEM).  Delta View will continue to be 100% affordable and provide two-bedroom apartments to low-income residents in Antioch, California.

About the Financing:
CSCDA and ROEM partnered with Citibank to provide tax-exempt multifamily affordable housing bonds for Delta View.  The rehabilitation will include eleven additional fully accessible units, new unit flooring, countertops, cabinets, appliances, and plumbing fixtures.  The building exteriors will have new roofs, HVAC systems, and siding.  The site will have upgraded drainage, rubberized flooring for the playground, and parking will be restriped.  The financing of Delta View 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 ROEM please visit: www.roemcorp.com

Click Here to download a PDF of this announcement
 

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