CSCDA Issues $76,962,410 in Tax-Exempt Bonds for Acacia Creek, a Masonic Senior Living Community

May 1, 2023

The California Statewide Communities Development Authority (CSCDA) is pleased to announce the issuance of $76,962,410 in tax-exempt bonds (the “Bonds”) for Acacia Creek, a Masonic Senior Living Community, in Union City, California.

About Acacia Creek:

Acacia Creek’s continuing care retirement community includes approximately 152 residential units offered exclusively to seniors.  In connection with providing residential housing for the elderly, Acacia Creek offers its senior residents several levels of health care and support for successful aging (independent living, assisted living, memory care and skilled nursing) including the following services: meals and dietary assistance, shopping assistance, companionship through social programs, and medical and safety related services.

About the Financing:

CSCDA partnered with Bank of America, N.A., and Foley & Lardner, LLP to provide the Bonds for Acacia Creek.  The new fixed rate Bonds will be used to refinance Acacia Creek’s 2013 issued variable rate bonds.

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 $70 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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