December 21, 2023
The California Statewide Communities Development Authority (CSCDA) is pleased to announce the issuance of $10,000,000 in tax-exempt 501c3 nonprofit bonds for Pepperwood Apartments in Rancho Cucamonga, California.
About Pepperwood Apartments:
Pepperwood Apartments is the rehabilitation of 230 affordable housing apartments by Linc Housing. Pepperwood Apartments will remain 100% affordable and provide studio, one-bedroom and two-bedroom apartments to very low and low-income residents in Rancho Cucamonga, California.
About the Financing:
CSCDA partnered with Stifel and Orrick, Herrington & Sutcliffe, LLP to provide the bonds for Pepperwood 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.
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 $75 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 Linc Housing, please visit: www.linchousing.org
CLICK HERE to download a PDF version of this announcement