CSCDA Issues $10,180,000 in Tax-Exempt Multi-Family Affordable Housing Bonds for Pleasant Village Apartments

January 14, 2021

The California Statewide Communities Development Authority (CSCDA) is pleased to announce the issuance of $10,180,000 in tax-exempt affordable housing bonds for Pleasant Village Apartments in Fresno, California.

About Pleasant Village Apartments:

Pleasant Village Apartments is an acquisition and rehabilitation of 100 affordable housing apartments by Pleasant Village Preservation, LP.  The project sponsor is 21 Alpha Group.  Pleasant Village Apartments will continue to be 100% affordable and provide one, two, three and four-bedroom apartments to low-income residents in Fresno, California.

About the Financing:

CSCDA partnered with California Bank & Trust and Orrick, Herrington & Sutcliffe, LLP to provide tax-exempt housing bonds for Pleasant Village 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 Pleasant Village 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 $65 billion in tax exempt bonds for projects that provide a public benefit by creating jobs, affordable housing, healthcare, infrastructure, schools and other fundamental services.

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