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Archive for January, 2012

The CMFA Completes a $18,322,065 Financing for the St. Joseph’s Family Apartments

Jan 18, 2012

The CMFA recently completed an $18,322,065 tax-exempt financing for BRIDGE Housing Corporation. Proceeds from the bonds will be used to finance a 62 unit multifamily rental housing project in the City of Oakland, California.  The project known as St. Joseph’s Family Apartments will serve low and very low income families.

Low Cost, Tax-Exempt Financing Provided for Forrester Square Apartments

Jan 16, 2012

The CMFA has provided over $6.9MM in Tax-Exempt Financing to Wakeland Housing & Development Corporation.  Proceeds from the bonds will be used to finance a new multi-family housing facility known as Forrester Square Apartments located in Santee, California.  The 3-story housing facility will provide 43 families with quality, affordable housing.

CHIP Housing and the CMFA Work Together to Provide Low Income Housing in Paradise.

Jan 16, 2012

The CMFA recently provided tax-exempt financing for CHIP Housing.  Proceeds will be used to construct Paradise Community Village which will provide a new affordable townhome or flat to 35 families in the Town of Paradise.  In addition to the community building that will host educational courses in areas like computer training, resume development and nutrition classes, the site will have a playground, picnic areas and open areas for its residents to enjoy.

CMFA Completes Financing for El Centro Apartments, California

Jan 16, 2012

The CMFA recently approved a $9.6MM transaction for Chelsea Investment Corporation.  Bond proceeds will be used to construct a new 71-unit multi-family housing facility located in the City of El Centro, California.  The high quality project will consist of one, two and three bedroom units.  The project includes site amenities like gated access, covered parking, recreational areas, community room, barbecues, children’s play area, and after-school programs.

The CMFA recently completed a $6,250,000 financing for the Temple Art Loft Apartments

Jan 16, 2012

This unique project will acquire and rehabilitate the historic Masonic Temple built in 1917 and Vallejo’s former City Hall both of which are currently sitting vacant.  Once completed the project will be mixed use and artfully combine aretail component with 28 affordable housing units.  The project is aimed at revitalizing the City of Vallejo’s downtown area.

The CMFA Provides $8,750,000 in Low Cost Tax-Exempt Financing to Community Preservation Partners

Jan 16, 2012

Community Preservation Partners, long known for revitalizing existing projects, recently secured $8,750,000 in tax-exempt financing through the CMFA.  Proceeds from the bonds will be used to acquire several multi-family apartment communities located throughout Kern County.  A total of 199 units will be acquired and rehabilitated for low-income households in the area.