Santa Clara Co. Sells First $250M In Affordable Housing Bonds

SANTA CLARA COUNTY, CA — The first of hundreds of millions of dollars of bonds to build more affordable housing in Santa Clara County were sold Thursday, county officials said. The money is part of a $950 million bond measure called Measure A, which voters approved last year.

The measure aims to provide housing for vulnerable populations, as well as help new homebuyers.

On Thursday, $250 million of the measure was sold and will be used for down-payment assistance loans to eligible first-time homebuyers, a loan program for predevelopment work and for the development of multifamily rental units.

The remaining $700 million will be issued over the next three to 10 years.

By Bay City News Service

Image via Shutterstock