CMFA Issues Tax-Exempt Financing for South Fulton Village Apartments
The CMFA issues $3,764,973 in tax-exempt bond proceeds for the South Fulton Village Apartments. The project is an acquisition/rehabilitation of an existing 280-unit senior housing project that houses seniors 55 years and older. South Fulton Village is made up of 1 and 2-bedroom units, each with a patio/balcony and air conditioning. The project will include substantial rehabilitation of each unit as well as rehabilitation to the community room and shared facilities. The rehabilitation aims to increase energy and water efficiency and will include a 20-year renewal of the HAP contract. Rents will be restricted to senior households with incomes no greater than 50% of the area median income. This project is located at 10829 Fulton Wes Avenue, Santa Fe Springs, California.