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New California Bond Program Promotes Affordability for Middle-Income Renters
The California Statewide Communities Development Authority hopes that a new program, which helps cities purchase rental properties with no upfront cost, will lead to an increase in affordable middle-income housing.
December 16, 2020, 9am PST | Diana Ionescu |
California s Statewide Communities Development Authority (CSCDA) is launching a new bond program aimed at making housing affordable for middle-income residents.
Through its current initiatives, the CSCDA issues bonds that help cities pay for new housing development projects that include affordable units for low-income renters. But many moderate-income renters fall through the cracks when it comes to housing assistance, says CSCDA managing director Jon Penkower. Those who earn too much to qualify for subsidized housing but not enough to afford market rates, he says, can’t get tax credits, there’s no federal subsidy, no state ....

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