Cal Cities-sponsored bond agency issues over $76 million in tax-exempt bonds for housing

The California Statewide Communities Development Authority (CSCDA) issued $76,962,410 in tax-exempt and taxable affordable housing bonds for Acacia Creek in Union City.

Acacia Creek is a continuing care retirement community that includes approximately 152 residential units for seniors. Acacia Creek offers its senior residents several levels of health care and support for successful aging, such as independent living, assisted living, memory care, and skilled nursing. It also provides meals and dietary assistance, shopping assistance, companionship through social programs, and medical, and safety-related services.

CSCDA partnered with the city and others for the acquisition of the properties and issuance of bonds. The new fixed-rate bonds will be used to refinance Acacia Creek’s 2013 variable-rate bonds.

CSCDA is a joint powers authority created in 1988 and is sponsored by the League of California Cities and the California State Association of Counties. More than 530 cities, counties, and special districts are program participants in CSCDA, which serves as their conduit issuer and provides access to efficiently financed, locally approved projects.

Visit the organization’s website to learn how CSCDA can help your city.