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Housing authority approves TEFRA hearing for Socorra affordable housing project; CalPFA to issue bonds
Summary
The Sacramento Housing and Redevelopment Agency requested and won approval to conduct a TEFRA hearing for the Socorra project, a five‑story affordable housing development at 2000 Sixteenth Street. The city noted the project would use tax‑exempt bonds issued by the California Public Finance Authority rather than the city acting as issuer.
The Sacramento Housing and Redevelopment Agency requested and the Housing Authority approved a Tax Equity and Fiscal Responsibility Act (TEFRA) hearing and recommendation for issuance of tax‑exempt bonds by the California Public Finance Authority for the Socorra affordable housing project.
Staff planner Whitney Hinton told the Housing Authority the Socorra project is a new‑construction, five‑story building proposed for 0.8 acres at 2000 Sixteenth Street with 34 studios and one‑bedroom units serving households at 30–60% of area median income. Hinton said the project would include about 2,000 square feet of ground‑floor commercial space and on‑site amenities including a dog run, storage for up to 70 bikes, laundry rooms on all five floors, a multipurpose community room and a ground‑floor courtyard.
“This project…
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