The CMFA Issues $43,575,000 in Tax-Exempt Financing for Napa Park Homes
The Napa Park Homes Apartments is an acquisition and rehabilitation of an existing 140-unit affordable multifamily rental housing facility located in the City of Napa, California. The project amenities include, a community room, management office, maintenance office, laundry room and tot lots. The project was last renovated in 1995 and is in need of updates. Renovations will be done to improve energy efficiency and to meet sustainability goals and improve building performance. Interior improvements to the unit’s kitchens, bathrooms and flooring will also be addressed. 128 of the units are restricted to households earning between 50% and 60% and less of AMI. The financing of this project will result in the preservation of 128 affordable apartments for the next 55 years.