The California Tax Credit Allocation Committee (TCAC) released new Subsidy Layering Review (SLR) instructions. Public Housing Authority’s (PHA) must submit their SLR documentation after the project receives a reservation of tax credits, via email to SubsidyLayering@treasurer.ca.gov. If you have any questions, please contact SubsidyLayering@treasurer.ca.gov.
TCAC also updated its Development Section Resyndication Questionnaire Memo, which is applicable to projects with existing LIHTC allocations that are requesting a new reservation of tax credits. The questionnaire in the memo must be completed when you are submitting a resyndication application. Do not use the Ownership Transfer memo located on the Compliance webpage.
