Rancho Cucamonga Affordable Housing Non-Profit Issues $100 Million in Bonds
A Rancho Cucamonga non-profit has finished issuing $100 million in taxable bonds.
The bonds were issued by the National Community Renaissance of California (National CORE), who specialize in developing and providing affordable housing.
The group says they will use the proceeds to finance the acquisition, development, and preservation of high-quality, affordable multifamily housing.
In their press release, National CORE's CEO Steve PonTell said that funds are a game-changer for the affordable housing industry and that they'll now be able to accelerate the creation of critically needed housing.