California Bond Program Helps Cities Secure Middle-Income Housing Without Upfront Cost Back Web Only Dec 18, 2020 By Jared Brey, Next City California, it’s no secret, needs more housing. A new program run by the California Statewide Communities Development Authority is designed to help cities meet their goals for housing middle-income residents, those earning between 80 percent and 120 percent of the area median income. The authority issues tax-exempt bonds to help cities pay for development projects that have some public benefit. Since it was created in 1988, the authority has helped finance more than 100,000 affordable-housing units, as part of deals involving federal low-income housing tax credits and other subsidies.