CSAC Finance Corporation Updates:

June 1, 2023

CSCDA Issues $80,725,746 in Tax-Exempt and Taxable Bonds for Silvey Villas at Homestead

The California Statewide Communities Development Authority (CSCDA) is pleased to announce the issuance of $80,725,746 in tax-exempt multi-family affordable housing bonds for Vintage at Lockwood Apartments in Oxnard, California.

About Vintage at Lockwood Apartments:

Vintage at Lockwood Apartments (the “Project”) is the new construction of 341 housing units by Vintage at Lockwood, LP.  The project sponsor is Vintage Housing Development, Inc. The benefits of the Project for the City of Oxnard include the following:

• 100% of the rental housing units will be rent restricted for extremely low-income and low-income senior tenants.
• The Project consists of one-bedroom and two-bedroom units, as well as four manager’s units.
• Units will be restricted to households earning less than 30%, 50% or 60% of the area median income.

About the Financing:

CSCDA and Vintage Housing partnered with Citibank and Orrick Herrington & Sutcliffe LLP to provide the affordable housing bonds for the Project.  The financing for the Project requires the affordability of units for extremely low-income and low-income senior tenants to be maintained for 55 years.

About CSCDA:

CSCDA is a joint powers authority created in 1988 and is sponsored by the California State Association of Counties and the League of California Cities.  More than 530 cities, counties and special districts are program participants in CSCDA, which serves as their conduit issuer and provides access to efficiently finance locally-approved projects.  CSCDA has issued more than $70 billion in tax exempt bonds for projects that provide a public benefit by creating jobs, affordable housing, healthcare, infrastructure, schools and other fundamental services.

For more information about CSCDA, please visit: www.cscda.org

For more information about Vintage Housing please visit: www.vintagehousing.com

CLICK HERE to download a PDF version of this announcement.

Easy Smart Pay 

CSAC FC is excited to report that membership with the Easy Smart Pay (ESP) Corporation continues to grow.  On May 23, 2023, Colusa and Calaveras Counties joined ESP.  Taxpayers in these counties will now be able to pay their property tax in easy monthly installments at the lowest transaction rate in the state. The ESP product, a project established by the CSAC Finance Corporation, continues its success and expansion.  ESP offers the most efficient and cost-effective way to pay local government taxes in monthly installments.  The goal of the program is focused on improving and facilitating tax payments for local government taxpayers, in a user-friendly and streamlined fashion at the lowest cost possible.  The program promotes and ensures easy installment payments and allows taxpayers to avoid large one-time payments and/or significant penalties, benefiting both counties and taxpayers.

For more information regarding ESP please visit: www.easysmartpay.net, contact Alan Fernandes (alan@csacfc.org) or Chase Broffman (chase@csacfc.org) if you have any questions or interest in learning more about this exciting program.