The bonds were issued by theNational 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.
