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Workforce Housing Program
Overview
CSCDA COMMUNITY IMPROVEMENT AUTHORITY (CSCDA CIA) WORKFORCE HOUSING PROGRAM
California’s housing crisis remains critical and the State continues to experience a significant shortage of available affordable housing units. Affordable housing is typically financed with tax-exempt private activity bonds and low-income housing tax credits, but these subsidies are limited to projects that restrict units for residents earning less than 60% of the area median income (AMI) (in certain cases up to 80% AMI). Since its inception, CSCDA has financed the construction or preservation of nearly 100,000 affordable units throughout California.
State leaders, as well as individual cities and counties have also recognized a serious shortage of workforce housing for those that have been termed the “missing middle”, individuals and families that earn too much to qualify for traditional affordable housing, but not enough to afford market rate rents in the communities where they work. Workforce housing (sometimes referred to as middle-income or moderate-income housing) is housing for individuals and families typically earning between 60% and 120% AMI. Unfortunately, workforce housing for the “missing middle” is not eligible for tax credits, private activity bonds or most other federal, state or local government subsidies.
The CSCDA Community Improvement Authority (CSCDA CIA), an affiliate joint powers authority, acquires public benefit oriented capital projects through the issuance of tax-exempt governmental purpose bonds. Through CSCDA CIA’s Workforce Housing Program, government bonds are issued to acquire market-rate apartment buildings. These properties are then converted to income and rent-restricted units for moderate/middle income households, which are generally households earning 80% to 120% of AMI. Annual rent increases are capped at no more than 4%, which is significantly less than the rent limits under AB1482, the recently adopted State tenant protection legislation. Additionally, no existing tenants are displaced under the program.
CSCDA CIA operates the largest workforce housing program in California and has acquired and converted more than 7,700 units for low- and middle-income tenants.
FOR INTERESTED TENANTS, A LIST OF PARTICIPATING PROPERTIES ARE LOCATED UNDER CIA PROJECTS. PLEASE CONTACT THE PROPERTY MANAGER FOR LEASING INFORMATION
CSCDA CIA Policies & Resources
CSCDA CIA POLICIES
CSCDA CIA RESOURCES
CSCDA CIA Projects
CSCDA CIA WORKFORCE HOUSING PROJECTS
FOR INTERESTED TENANTS, PLEASE CONTACT THE PROPERTY MANAGER FOR LEASING INFORMATION
March 14, 2022 – The CSCDA Community Improvement Authority is pleased to announce the issuance of $95,641,006 in tax-exempt Essential Housing Revenue Bonds to acquire Towne at Glendale Apartments, located in Glendale, California.
CSCDA CIA Towne at Glendale Announcement
LINK TO THE PROPERTY
January 31, 2022 – The CSCDA Community Improvement Authority is pleased to announce the issuance of $111,915,000 in tax-exempt Essential Housing Revenue Bonds to acquire The Crescent Apartments, located in West Hollywood, California.
CSCDA CIA Crescent Announcement
LINK TO THE PROPERTY
December 28, 2021 – The CSCDA Community Improvement Authority is pleased to announce the issuance of $202,120,000 in tax-exempt Essential Housing Revenue Bonds to acquire Rowan Apartments, Haven 76 Apartments and Alcove Apartments, located in Escondido, California.
CSCDA CIA Escondido Portfolio Announcement
LINK TO ROWAN
LINK TO HAVEN 76
LINK TO ALCOVE
December 28, 2021 – The CSCDA Community Improvement Authority is pleased to announce the issuance of $395,150,000 in tax-exempt Essential Housing Revenue Bonds to acquire Wood Creek Apartments, located in Pleasant Hill, California.
CSCDA CIA Wood Creek Announcement
LINK TO THE PROPERTY
December 14, 2021 – The CSCDA Community Improvement Authority is pleased to announce the issuance of $113,950,000 in tax-exempt Essential Housing Revenue Bonds to acquire Park Crossing Apartments, located in Fairfield, California.
CSCDA CIA Park Crossing Announcement
LINK TO THE PROPERTY
December 9, 2021 – The CSCDA Community Improvement Authority is pleased to announce the issuance of $175,260,000 in tax-exempt Essential Housing Revenue Bonds to acquire Monterey Station Apartments, located in Pomona, California.
CSCDA CIA Monterey Station Announcement
LINK TO THE PROPERTY
December 8, 2021 – The CSCDA Community Improvement Authority is pleased to announce the issuance of $356,730,000 in tax-exempt Essential Housing Revenue Bonds to acquire Westgate Phase 1 Apartments, located in Pasadena, California.
CSCDA CIA Westgate Phase 1 Announcement
LINK TO THE PROPERTY
December 1, 2021 – The CSCDA Community Improvement Authority is pleased to announce the issuance of $188,160,000 in tax-exempt Essential Housing Revenue Bonds to acquire Millennium South Bay Apartments, located in Hawthorne, California.
CSCDA CIA Millennium South Bay Announcement
LINK TO THE PROPERTY
November 30, 2021 – The CSCDA Community Improvement Authority is pleased to announce the issuance of $207,415,000 in tax-exempt Essential Housing Revenue Bonds to acquire 777 Place Apartments, located in Pomona, California.
CSCDA CIA 777 Place Announcement
LINK TO THE PROPERTY
November 4, 2021 – The CSCDA Community Improvement Authority is pleased to announce the issuance of $81,065,000 in tax-exempt Essential Housing Revenue Bonds to acquire Theo Apartments, located in Pasadena, California.
CSCDA CIA Theo Announcement
LINK TO THE PROPERTY
October 26, 2021 – The CSCDA Community Improvement Authority is pleased to announce the issuance of $89,430,000 in tax-exempt Essential Housing Revenue Bonds to acquire Vineyard Gardens Apartments, located in Santa Rosa, California.
CSCDA CIA Vineyard Gardens Announcement
LINK TO THE PROPERTY
October 21, 2021 – The CSCDA Community Improvement Authority is pleased to announce the issuance of $134,605,000 in tax-exempt Essential Housing Revenue Bonds to acquire Acacia Apartments, located in Santa Rosa, California.
CSCDA CIA Acacia Announcement
LINK TO THE PROPERTY
October 20, 2021 – The CSCDA Community Improvement Authority is pleased to announce the issuance of $157,390,000 in tax-exempt Essential Housing Revenue Bonds to acquire 1818 Platinum Triangle Apartments, located in Anaheim, California.
1818 Apartments Announcement
LINK TO THE PROPERTY
September 21, 2021 – The CSCDA Community Improvement Authority is pleased to announce the issuance of $240,010,000 in tax-exempt Essential Housing Revenue Bonds to acquire Cameo Apartments and The Garrison Apartments, both located in Orange, California.
Cameo and The Garrison Announcement
LINK TO CAMEO PROPERTY
LINK TO THE GARRISON PROPERTY
September 14, 2021 – The CSCDA Community Improvement Authority is pleased to announce the issuance of $84,275,000 in tax-exempt Essential Housing Revenue Bonds to acquire Waterscape Apartments, located in Fairfield, California.
Waterscape Apartments Announcement
LINK TO THE PROPERTY
August 31, 2021 – The CSCDA Community Improvement Authority is pleased to announce the issuance of $235,000,000 in tax-exempt Essential Housing Revenue Bonds to acquire Waterford Place Apartments, located in Dublin, California.
Waterford Place Announcement
LINK TO THE PROPERTY
June 16, 2021 – The CSCDA Community Improvement Authority is pleased to announce the issuance of $95,545,000 in tax-exempt Essential Housing Revenue Bonds to acquire The Link Apartments, located in Glendale, California.
The Link Announcement
LINK TO THE PROPERTY
June 15, 2021 – The CSCDA Community Improvement Authority is pleased to announce the issuance of $385,985,000 in tax-exempt Essential Housing Revenue Bonds to acquire Westgate Apartments and The Hudson Apartments, both located in Pasadena, California.
Westgate and The Hudson Announcement
LINK TO WESTGATE PROPERTY
LINK TO THE HUDSON PROPERTY
June 9, 2021 – The CSCDA Community Improvement Authority is pleased to announce the issuance of $215,685,000 in tax-exempt Essential Housing Revenue Bonds to acquire Union South Bay Apartments, located in Carson, California.
Union South Bay Announcement
LINK TO PROPERTY
April 21, 2021 – The CSCDA Community Improvement Authority is pleased to announce the issuance of $339,400,000 in tax-exempt Essential Housing Revenue Bonds to acquire Altana Apartments, located in Glendale, California.
Altana Announcement
LINK TO PROPERTY
April 13, 2021 – The CSCDA Community Improvement Authority is pleased to announce the issuance of $117,955,000 in tax-exempt Essential Housing Revenue Bonds to acquire MODA at Monrovia Station Apartments, located in Monrovia, California.
MODA Announcement
LINK TO PROPERTY
March 25, 2021 – The CSCDA Community Improvement Authority is pleased to announce the issuance of $135,730,000 in tax-exempt Essential Housing Revenue Bonds to acquire Oceanaire Apartments, located in Long Beach, California.
Oceanaire Announcement
LINK TO PROPERTY
February 26, 2021 – The CSCDA Community Improvement Authority is pleased to announce the issuance of $195,965,000 in tax-exempt Essential Housing Revenue Bonds to acquire Jefferson Platinum Triangle Apartments, located in Anaheim, California.
Jefferson Apartments Announcement
LINK TO PROPERTY
February 9, 2021 – The CSCDA Community Improvement Authority is pleased to announce the issuance of $181,010,000 in tax-exempt Essential Housing Revenue Bonds to acquire Parallel Apartments, located in Anaheim, California.
Parallel Apartments Announcement
LINK TO PROPERTY
December 29, 2020 – The CSCDA Community Improvement Authority is pleased to announce the issuance of $116,825,000 in tax-exempt Essential Housing Revenue Bonds to acquire the CTR City Apartments, located in Anaheim, California.
CTR City Anaheim Announcement
LINK TO PROPERTY
December 22, 2020 – The CSCDA Community Improvement Authority is pleased to announce the issuance of $70,675,000 in tax-exempt Essential Housing Revenue Bonds to acquire the Renaissance at City Center Apartments, located in Carson, California.
Renaissance Carson Announcement
LINK TO PROPERTY
CSCDA CIA News
CSCDA CIA NEWS
- Reduced Rent for Middle Income Workers (ABC10 News San Diego)
- Pasadena’s ‘Missing Middle’ is Getting a Rent Break at these Two Projects (Pasadena Star News)
- Acquisition Funding to Create Moderate Income Housing (Housing Innovation Collaborative)
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Filling the ‘Missing Middle’ in LA’s Housing Market is Focus of New Government Program (KCRW)
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Anaheim Will Cut Rents on More than 1,000 Middle Income Apartments (Orange County Register)
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California Bond Program Helps Cities Secure Middle Income Housing Without Upfront Cost (Next City)
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Anaheim Introduces New Approach to Creating Affordable Housing (Fox 11 Good Day LA)
