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Council approves tax‑exempt bonds to rehab 240‑unit Centa Apartments, pledges tenant protections
Summary
The council held a TEFRA public hearing and approved a resolution allowing CSCDA to issue qualified 501(c)(3) bonds (not city debt) for Bedford Centa Apartments to finance acquisition and rehabilitation of a 240‑unit property. Staff and the sponsor said no mass displacement is planned and units will be rehabilitated through natural turnover with required affordability set‑asides.
The Oceanside City Council on April 8 held a TEFRA public hearing and adopted a resolution approving the issuance of qualified 501(c)(3) tax‑exempt bonds by the California Statewide Communities Development Authority (CSCDA) for the benefit of Bedford Centa Apartments LLC. The bonds — not issued by the city and not city debt — would finance acquisition and rehabilitation of a roughly 240‑unit…
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