California
California Releases List of Second Round Competitive Tax Credits Received
The Agency asks that interested parties review the list of applications to ensure their application was received.
California Releases Guidance Memos for 2nd Round Competitive Applications
General guidance for second round applicants as well as guidance for first round applicants reapplying is included.
California: Potential for Significantly Reduced State Credits for Second Round Tax-Exempt Bond Funding
If approved, the remaining amount of tax exempt bond volume for the Second Round would be reduced from $1,806,066 to $66,924.
California Updates Deadlines for 2017 4% Applications, 2nd Round Deadline is 6/28
The 2017 Program Schedule & Deadlines has been updated and posted on the TCAC Website to correct the application deadlines for non-competitive 4% tax-exempt bond financed applications seeking consideration at the August 16th, October 18th and November 15th meetings.
California Publishes Income and Rent Limits
A link is included to access the recently released numbers.
California Proposes Emergency Regulation Changes Granting Flexibility to First Round 9% Deals
The new proposal would allow projects from the first round of 2016 the ability to exchange 2016 credits for 2017 credits to extend federal placed in service deadlines.
California: Almost 32,000 Affordable Units At Risk Over Next Five Years
The figure is particularly alarming when considering that California has lost a similar number of units already, but that took roughly 20 years.
Register for California Council for Affordable Housing Spring Conference 5/17-19
Registration for the 2017 CCAH Spring Conference to be held May 17-19 a the Sheraton Grand Sacramento has opened.
California Finalizes Plan for Mitigating Equity Market Changes
The final regulation was published February 23, 2017, and is unchanged from the revised proposed regulations discussed in this article.
California Revises Proposed Plan for Mitigating Equity Changes
Comments are due to Mark Stivers by February 17th at 5pm
California Proposes “Emergency” Regulation Changes to 2016 QAP, Comments Due 2/17
A previously mentioned hybrid 4%/9% policy change is now being proposed for 2016 second round projects to help address changes in the equity market.
California Solicits Comment on Hybrid 4%/9% Structure to Combat Equity Market Turbulence, Comment Due Jan. 31
For 2016 awardees only, TCAC is considering allowing the projects to convert to a hybrid 9%/4% structure to bring in additional 4% tax credit equity, which would be made available through monetizing a portion or all of the voluntary basis reduction contained in the original 9% application.