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Council approves $45 million tax-exempt bond for Arrowhead Grove Phase 4
Summary
The San Bernardino City Council held a TEFRA public hearing and voted unanimously to approve up to $45 million in tax-exempt bonds for Arrowhead Grove Phase 4, a 92-unit affordable housing project developed by National Core and financed by the California Statewide Communities Development Authority.
The San Bernardino City Council on April 2 held a Tax Equity and Fiscal Responsibility Act (TEFRA) public hearing and unanimously approved a resolution authorizing the issuance of tax‑exempt bonds not to exceed $45,000,000 to finance Arrowhead Grove Phase 4, a 92‑unit affordable rental project.
The bonds will be issued by the California Statewide Communities Development Authority on behalf of Arrowhead Grove 4 LP. Trina Perez of the city’s housing staff told council the…
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