The CMFA Assists Peoples Self Help Housing Corporation on an $6,316,547 Tax-Exempt Bond Financing

The proceeds of the Bonds will be used for the acquisition and rehabilitation of the Los Robles Terrace Apartments, an existing 40-unit apartment property for multifamily seniors. The project involves the refinance of an existing HUD 202 project with 4% Low Income Housing Tax Credits and tax-exempt bonds. The rehabilitation will include photovoltaic and solar hot water installation, accessibility and security system upgrades, and unit and community space renovations. The project will be made up of studio and one bedroom apartments for families making 50% or less of Area Median Income. The project is located at 2940 Spring Street in the City of Paso Robles, County of San Luis Obispo, CA. The rehabilitation will ensure long-term financial sustainability and extend the useful life of the building, and will also extend the HUD use agreement and ensure long-term affordability for residents. The financing of this project will result in the retaining of 39 affordable apartments for the next 55 years

« Return