Details | Housing Private Activity Bonds


Funder

 

California Statewide Communities Development Authority

Implementer

 

California Statewide Communities Development Authority

Description

 

The CSCDA Housing Bond Program is designed to assist both for profit and nonprofit developers in accessing tax-exempt bonds (Bonds) for the financing of low-income multifamily and senior housing projects. The Bonds may be used to finance or refinance the acquisition and rehabilitation of an existing project or for the construction of a new project, provided the developer agrees to set aside all, or a portion, of the units in a project for individuals and families of very low, low or moderate income. A developer can finance a project at a lower interest rate than available through conventional financing because the interest paid to bondholders is exempt from federal (and in some case state) income taxes. To reserve the right to issue tax-exempt housing bonds, CSCDA and the developer must file an application with the State of California to secure an award of volume cap. CSCDA staff will guide each developer through the state application process. Moreover, CSCDA will work with each developer post bond issuance to ensure each project remains in compliance with state and federal laws. Since inception, CSCDA has issued over $8 billion in Bonds for more than 900 multifamily and senior housing projects throughout California.

Funding guidance

 

Applications open

 

None

Applications close

 

None

Type

 

Bond

Category

 

Financing

Territory

 

California

Applicant type

 

For Profit  |  Non Profit

Project

 

New Addition to an Existing Building  |  Real Estate and Asset Purchases  |  Rehabilitation of Existing Whole Building  |  Rehabilitation of Part of an Existing Building  |  Whole New Building Construction

Sector

 

Residential

Sub-sector

 

Multi Family

Sustainability

 

Electric Vehicle Charging Infrastructure  |  Electric Vehicles  |  Energy Efficiency for Processes  |  Energy Efficiency in Buildings  |  Energy Management System  |  Energy Storage  |  Generation Systems  |  Water Use Reduction

Additional website

 

Small business

 

False

Disadvantaged communities

 

False

Cost sharing amount

 

None

Cost sharing percent

 

None

Cost sharing note

 

Minimum repayment years

 

None

Maximum repayment years

 

None

Interest rate comment

 

Incentive