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CSCDA Issues $39,931,600 in Tax-Exempt Bonds for Ethel Arnold Bradley Apartments


December 19, 2019

The California Statewide Communities Development Authority (CSCDA) is pleased to announce the issuance of $39,931,600 in tax-exempt affordable housing bonds for Ethel Arnold Bradley Apartments in Los Angeles, California.

About Ethel Arnold Bradley Apartments:

Ethel Arnold Bradley Apartments is an acquisition and rehabilitation of 81 affordable housing apartments by Ethel Arnold Preservation, LP.  The project sponsor is 21 Alpha Group.  Ethel Arnold Bradley Apartments will continue to be 100% affordable and provide two and three-bedroom apartments to low-income residents in Los Angeles, California.
 
About the Financing:

CSCDA partnered with Stifel and Orrick, Herrington & Sutcliffe, LLP to provide tax-exempt housing bonds for Ethel Arnold Bradley Apartments.  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 Ethel Arnold Bradley Apartments 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 530 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 $63 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
 
CLICK HERE to download a PDF version of this announcement

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