September 8, 2021
The California Statewide Communities Development Authority (CSCDA) is pleased to announce the issuance of $22,380,000 in tax-exempt affordable housing bonds for Harriet Tubman Terrace Apartments in Berkeley, California.
About Harriet Tubman Terrace Apartments:
Harriet Tubman Terrace Apartments is the acquisition and rehabilitation of 91 affordable housing apartments by HT Terrace Renewal LP. The project sponsor is The National Foundation for Affordable Housing. Harriet Tubman Terrace Apartments will continue to be 100% affordable and provide studio and one-bedroom apartments to low-income senior residents in Berkeley, California.
About the Financing:
CSCDA partnered with Stifel and Orrick, Herrington & Sutcliffe, LLP to provide tax-exempt housing bonds for Harriet Tubman Terrace 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 Harriet Tubman Terrace Apartments will maintain the affordability of units for low-income senior tenants for an additional 55 years.
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.
For more information about CSCDA, please visit: www.cscda.org
For more information about The National Foundation for Affordable Housing, please visit: www.foundationhousing.com
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