County approves tax-exempt bonds for Springbrook Grove Apts

The San Diego County Board of Supervisors approved the issuance of tax-exempt revenue bonds to SADI, LLC, for the acquisition, construction, and development of the Springbrook Grove Apartments.

The supervisors’ February 12 vote authorizes the California Statewide Communities Development Authority to issue up to $16 million of tax-exempt bonds to SADI, LLC, for the complex in the 400 block of Alturas Road.

The California Statewide Communities Development Authority was created to provide local governments, non-profit public benefit corporations, and private entities with access to low-cost, tax-...