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CSCDA Issues $9,010,646 in Tax-Exempt Bonds for Sierra Village Apartments


July 25, 2017

The California Statewide Communities Development Authority (CSCDA) is pleased to announce the issuance of $9,010,646 in tax-exempt multi-family affordable housing bonds for Sierra Village Apartments in Dinuba, California.

About Sierra Village Apartments:

Sierra Village Apartments (the “Project”) is the new construction of 44 affordable housing units by Self-Help Enterprises.  The benefits of the Project for the City of Dinuba and County of Tulare include the following:
 
  • 100% of the affordable rental housing units will be rent restricted for low-income tenants.
  • The Project consists of 22 two-bedroom units and 22 three-bedroom units.
  • More than 75% of the units will be restricted to households earning 50% or less of the area median income.
 
About the Financing:

CSCDA and Self-Help Enterprises partnered with Wells Fargo Bank and Jones Hall, P.C. to provide $9,010,646 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 Self-Help Enterprises, please visit: www.selfhelpenterprises.org

CLICK HERE to download a PDF version of this announcement


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