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CSCDA Issues $25,025,000 in Tax-Exempt Bonds for Vista Sonoma Senior Living Apartments


July 29, 2016

The California Statewide Communities Development Authority (CSCDA) is pleased to announce the issuance of $25,025,000 in tax-exempt multifamily affordable housing bonds for Vista Sonoma Senior Living Apartments in Santa Rosa, California.
 
About Vista Sonoma Senior Living Apartments:

Vista Sonoma Senior Living Apartments (Vista Sonoma) is an acquisition and rehabilitation of 189 senior affordable housing apartments by Vintage at Sonoma, LP.  The project sponsor is Vintage Housing.  Vista Sonoma will continue to be 100% affordable and provide one and two-bedroom apartments to low-income senior residents in Santa Rosa, California.

About the Financing:

CSCDA and Vintage Housing partnered with Citibank to provide tax-exempt multifamily affordable housing bonds for Vista Sonoma.  The rehabilitation will include new floors, carpets, interior and exterior paint, carbon monoxide sensors as well as repair or replacement as needed of carports, landscaping systems, balconies, doors and doorframes, exterior siding, kitchen cabinetry, window coverings, roof coverings, downspouts and gutters, sinks and HVAC system components.  Additionally, appliances will be upgraded and replaced with more energy efficient models and common areas, including restrooms, social rooms, leasing/management offices and elevators will be refurbished and upgraded.  The financing of Vista Sonoma will maintain the affordability of units for low-income senior 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 Vintage Housing please visit: www.vintagehousing.com

CLICK HERE to download a PDF version of this announcement



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