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League-Sponsored Bond Agency Issues More Than $61 Million in Tax-Exempt Bonds for Affordable Housing in San Jose

December 16, 2019
California Statewide Communities Development Authority (CSCDA) announced the issuance of $61 million in tax-exempt and taxable multi-family affordable housing bonds for Parkside Terrace Apartments in San Jose. 
 
The League’s co-sponsorship of CSCDA continues to be a significant benefit for League members.
 
About Parkside Terrace Apartments
Parkside Terrace Apartments is an acquisition and rehabilitation of 201 affordable housing apartments by Tripp Avenue Housing Associates, LP. The project sponsor is Community HousingWorks. Parkside Terrace will continue to be 100 percent affordable and provide one-bedroom apartments to low-income residents in San Jose.
CSCDA and Community HousingWorks partnered with JLL Capital Markets and Jones Hall to provide tax-exempt affordable housing bonds for Parkside Terrace. The rehabilitation will include extensive exterior and interior renovations which include energy and water efficiency upgrades. The financing of Parkside Terrace will maintain the affordability of units for low-income senior tenants for 55 years.

About CSCDA
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. 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 $60 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. For more information about Community HousingWorks, please visit: www.chworks.org.


 
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