The CMFA Works with MRK Partners to Finance Affordable Housing with Tax-Exempt Financing of $25,297,039

The CMFA issued $25,297,039 in tax-exempt bonds for MRK Partners to finance the acquisition and rehabilitation of Deliverance Temple Apartments.

The Deliverance Temple Apartments is an acquisition/rehabilitation of an existing affordable housing multifamily project. The project is an 82-unit multifamily residential rental facility, located at 4312 Potrero Avenue, Richmond, CA. The project was built in the 1970’s and consists of nine buildings on two separate sites located ½ mile from each other. Due to the age and condition of the project, it is in need of substantial rehabilitation. Amenities will include laundry, common area seating, access to public transportation, parking, and onsite management. Services to be provided include educational services and children lunches. This financing will preserve a much needed 82 units of affordable housing for the City of Richmond for another 55 years.

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