Low Cost, Tax-Exempt Financing Provided for East Cliff Village Apartments
The CMFA has provided $10MM in Tax-Exempt Financing to Volunteers of America. Proceeds from the bonds will be used to finance the acquisition/ rehabilitation of an affordable senior rental housing project known as East Cliff Village Apartments. The apartment complex that was originally built in 1986 will continue to provide high quality, affordable housing for 75 senior individuals and families for an additional 55 years in the City of Santa Cruz, California.