The be.group Secures Tax-Exempt Financing Through the CMFA
Recently the CMFA completed a $20,000,000 tax-exempt bond financing for the be.group. Proceeds from the low interest bonds will assist in the acquisition / rehabilitation project of the Casa de la Paloma Apartments. The be.group was founded in 1955 and has focused on creating vibrant communities for seniors. The Casa de la Poloma Apartments is an existing nine-story 167 unit affordable senior citizen and handicapped apartment complex located in the City of Glendale. All 167-units are 1-bedroom units and provide affordable rents to seniors 62 years of age and older and handicapped individuals. A portion of the bond proceeds will be dedicated to the rehabilitation of the complex. ADA upgrades, roofing, new HVAC system improvements and other energy efficiency upgrades. With new exterior paint and waterproofing of decking, landscaping and parking improvements, senior residents will be able to enjoy affordable living for another 55 years.