City of Simi Valley Staff Report A Public Hearing to consider adoption of a resolution approving the issuance of revenue bonds 2026-03-23
Affordable Housing Developer Approved for Bond Financing
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Description
Simi Valley Pacific Associates II, LP received City approval to access up to $60 million in tax-exempt revenue bond financing through the California Municipal Finance Authority for the Tapo Street Apartments affordable housing project. The borrower is solely responsible for repayment, with no financial obligation borne by the City.
Contract Details
Contract Amount
Not to exceed $60,000,000
Vendor
SIMI VALLEY PACIFIC ASSOCIATES II LP
Agency
City of Simi Valley, CA
Contract Type
FINANCIAL_SERVICES
Document Date
March 23, 2026
Renewal Info
Approval covers financing or refinancing of the project through CMFA bonds up to an aggregate principal amount of $60,000,000, including potential refunding bonds; no recurring renewal provisions are indicated.
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