The California Tax Credit Allocation Committee (TCAC) will hold a public hearing on its draft proposed regulation changes at 1:30 p.m. CT on May 19. Join the meeting by dialing (888) 557-8511, code: 5651115. Comments are due to Anthony Zeto by May 31.
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Nixon Peabody LLP announced it recently advised St. Stephens Retirement Center, Inc., and CRP Affordable Housing and Community Development LLC on a complex financing transaction and status conversion that will provide decades of financial certainty, as well as funding to rehabilitate the property.Read More
Hunt Capital Partners announced that it and developer D.L. Horn and Associates have closed on more than $8.5 million in federal Low Income Housing Tax Credit equity financing for the acquisition and rehabilitation of 163 units of affordable multifamily housing in Palm Desert.Read More
CREA LLC announced it successfully closed California Tax Credit Fund 84, LP (Fund 84) totaling $132 million of investor equity, which will finance eight affordable housing developments across the state of California. CREA said the impact made by the new and rehabilitated affordable housing properties represents the creation of 444 homesRead More
The California state assembly passed the Housing Accountability Act (AB 989), which would create a state Housing Accountability Committee to adjudicate violations of the Housing Accountability Act and give the committee the authority to overturn denials or conditions of approval that are not consistent with the Act. This provides a quicker, less expensive, less confrontational and more consistent alternative to enforcing state housing laws in court, resulting in more affordable homes built at lower cost.Read More