This program provides a variety of public agencies and developers access to low-cost, tax-exempt financing and economic development tools. CSCDA recently issued $11,555,000 in tax-exempt multi-family affordable housing bonds for El Cazador Apartments in Fresno.
About El Cazador Apartments
El Cazador Apartments is an acquisition and rehabilitation of 100 affordable housing apartments by El Cazador, LP. The project sponsor is Redwood Housing Partners. El Cazador will become 100 percent affordable and provide one-, two- and three-bedroom apartments to low-income residents in Fresno.
CSCDA and Redwood Housing Partners partnered with Citibank to provide tax-exempt multi-family affordable housing bonds for El Cazador. The rehabilitation will include the following: new roof coating system, upgraded HVAC systems, upgraded boilers, modernized landscaping, construction of a new community building (including management office, computer lab, library and fitness room), new security camera system, upgraded lighting, upgraded unit interiors and upgraded appliances. The financing of El Cazador will maintain the affordability of units for low-income tenants for 55 years.
CSCDA is a joint powers authority created in 1988 and is sponsored by the League of California Cities®
and the California State Association of Counties. It was created by cities and counties for cities and counties. More than 500 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 $50 billion in tax exempt bonds for projects that provide a public benefit by creating jobs, affordable housing, healthcare, infrastructure, schools and other fundamental services. Visit CSCDA’s website
for additional information on the ways in which CSCDA can help your city.