The City of Gilroy to Benefit from Tax-Exempt Financing with the CMFA
The Pacific Companies requested that the CMFA issue $33,000,000 in tax-exempt bonds for the construction of the Harvest Park Apartments. The Harvest Park Apartments is a new construction project located on two sites in Gilroy, California. The first site will consist of 32 units located on 2 acres at the northwest corner of Wren Avenue and Cohansey Avenue. The second site will consist of 66 units located on 3.61 acres at the northwest corner of Monterey Road and Cohansey Avenue. This site will contain a 3,093 square foot community building that will be shared by both sites. The financing of this project will provide the City of Gilroy with 96 units of affordable housing for the next 55 years. The financing of this project will provide the City of Gilroy with 96 units of affordable housing for the next 55 years.