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Council holds TEFRA hearing and approves tax‑exempt bond issuance for 59‑unit affordable housing project on Stevens Creek Boulevard
Summary
The council conducted a TEFRA public hearing and approved a resolution allowing California Municipal Finance Authority tax‑exempt private activity bonds for a completed 59‑unit affordable rental development at 3941 Stevens Creek Boulevard. The project sponsor is CRP Affordable Housing and Community Development.
The Santa Clara City Council held a Tax Equity and Fiscal Responsibility Act (TEFRA) public hearing required by state law and approved a resolution authorizing the California Municipal Finance Authority to issue tax‑exempt private activity bonds to support a newly constructed, 59‑unit affordable housing development at 3941 Stevens Creek Boulevard.
The developer and borrower listed is CRP…
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