The project represents an investment of more than $16.3 millionby Hudson Housing Capital and California Bank & Trust thatallowed Amcal and its nonprofit partner Foundation for AffordableHousing to build Valle del Sol. The project financing included morethan $8.8 million in 9% low-income housing tax credits.

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Like all Amcal complexes, Valle del Sol will provide free socialservice programs to residents including dial-a-ride, after schoolprograms and educational classes. Located less than a half-milefrom a local elementary school and public park, Valle del Sol isalso within one mile of a grocery store, pharmacy and medicalclinics.

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As a 100% affordable building, the complex will include 21 unitsdedicated to households that earn 60% of area median income, while35 units will be reserved for 50% AMI and seven units will bereserved for both 40% and 30% AMI. Depending on the unit,approximate rents will range from $676 to $780 for 60% AMIhouseholds, $476 to $571 for 50% AMI, $381 for 40% AMI and $285 to$396 for 30% AMI.

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To help lower living costs for residents, Amcal built Valle delSol to exceed California's energy efficient standards forresidential and nonresidential buildings by 10%. The developer alsoimplemented measures and building techniques to improve indoor airquality, reduce harmful emissions and use recycled buildingmaterials.

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Percival Vaz, president and CEO of Amcal, cites "a tremendousneed for affordable housing in communities throughout the state ofCalifornia." The Agoura Hills-based company, in addition tomultiple apartment developments for low-income families andseniors, has upcoming developments featuring work force for-salehousing. The company recently launched Amcal Equities, a divisiondedicated to acquiring existing income-producing properties anddeveloping market-rate apartments.

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