Mercy Housing Preserves Affordable Housing by Using Tax-Exempt Financing Issued by the CMFA
The CMFA issued $6,668,698 in tax-exempt financing for the Esperanza Crossing Apartments. The Esperanza Crossing Apartments project is a new construction project that is located on Woodland Avenue in Yolo County, CA. The project will be comprised of 40 affordable apartment units. There will be a mixture of one-, two- and three-bedroom units. 39 apartment units will be restricted to residents with household incomes no greater than 55% of the Area Median Income. Amenities will include a community building, community Wi-Fi and green area. The project will be located close to transit services, shopping, schools and a library. The financing of this project will result in the creation of 39 affordable apartments for the next 55 years in Yolo County.