The California Tax Credit Allocation Committee (TCAC) and the California Debt Limit Allocation Committee (CDLAC) recalled the January 28, 2020 messages with the subject line “4% Federal and State Tax Credits with Tax-Exempt Bonds: Message to Applicants.” The content of the message, listed below, does no apply.
“CTCAC and CDLAC have focused on the process for determining which applicants to recommend to our respective boards to receive both State tax credits and bond allocation in rounds where State tax credits are oversubscribed and bonds are competitive. While in the first instance a successful applicant must receive an award from both, in the few cases where the result would differ depending on which list one starts with, we have determined that in such cases we will start with the CTCAC list. By using this process we expect to maximize the number of affordable units funded in this round.”
