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CSCDA Issues $12,246,000 in Tax-Exempt Bonds for Triangle Terrace Apartments


November 21, 2016

The California Statewide Communities Development Authority (CSCDA) is pleased to announce the issuance of $12,246,000 in tax-exempt multifamily affordable housing bonds for the Triangle Terrace Apartments in Orange, California.
 
About Triangle Terrace Apartments:

Triangle Terrace Apartments (Triangle Terrace) is an acquisition and rehabilitation of 75 multifamily affordable housing apartments by Triangle Terrace Affordable, LP.  The project sponsor is Reiner Communities.  Triangle Terrace will continue to be 100% affordable and provide apartments to low-income residents in Orange, California.
 
About the Financing:

CSCDA and Reiner Communities partnered with Citibank to provide tax-exempt multifamily affordable housing bonds for Triangle Terrace.  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 Triangle Terrace 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 Reiner Communities please visit: www.reinercommunities.com

CLICK HERE to download a PDF version of this announcement


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