The California Housing Finance Agency (CalHFA) has launched a new Bond Recycling Program, which will provide an additional source of financing to address the state’s affordable housing crisis.
In partnership with Governor Gavin Newsom, Apple announced a $2.5 billion commitment to combat the housing crisis in California. As part of that commitment, Apple is supplying a credit facility that is key to making bond recycling work. This facility allows CalHFA to preserve and reuse tax-exempt bonds, that would otherwise have been retired, to provide low-cost financing to more affordable housing projects without using any of California’s already oversubscribed yearly bond cap. CalHFA Executive Director Tia Boatman Patterson discussed the recycling facility at NH&RA California Developers Forum. All registered attendees and NH&RA members can receive a complimentary link to the recording. For any non-members wishing to purchase the recording, please contact info@housingonline.com.
