California’s Tax Credit Allocation Committee yesterday released two regulation changes proposed for Committee consideration. CTCAC staff will conduct a public hearing on February 22 in Sacramento, CA. The proposed changes would:

  • Delete the provision granting certain counties “Difficult to Develop Area” (DDA) status for 9% credit applications. CTCAC would delete the reference to State-designated DDAs altogether.
  • Provide another 90-day readiness deadline extension to first-round 2011 award recipients with redevelopment agency funding commitments who already received one 90-day extension. This change would change the construction loan closing deadline from March 19 to June 18.

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