California

The opinion addresses one project where an assessor had denied exemption to 18 units of low-income qualified housing based on the fact that one housing provider essentially “subleased” A block of apartments for “homeless” clients from the limited partnership.

The California Tax Credit Allocation Committee recently released final proposed regulation changes as well as responses to public comment. Read on for a summary of changes.

TCAC is interested in hearing from any 2016 awardees who have concerns about being able to meet the readiness deadline.

Owners should begin utilizing the new documents immediately.

These funds will support a new multifamily whole building energy efficiency retrofit program.

Zack Olmstead will join California’s Department of Housing and Community Development as the new Assistant Deputy Director for Homeless and Housing Policy on November 28th.

Public comment regarding these changes is due by October 31.

To date, $179 million has been awarded to 45 developments in two application cycles. The next Notice of Funding Availability (NOFA) is estimated to be released in November.

The California Natural Resources Agency has recently posted a draft document titled “Vibrant Communities and Landscapes: a Vision for California in 2050.”

The California Tax Credit Allocation Committee will hold 4 public hearings from October 4-7 to discuss changes to the QAP. Read on for a summary of QAP changes.

The California Tax Credit Allocation Committee recently released its preliminary allocation recommendations / rankings for 9% set-asides, 9% geographic regions, and tax-exempt bond projects. These items will be discussed at the next CTCAC Meeting.

The state law aims to create affordable housing for teachers and school district employees by utilizing land owned by school districts for development of income-restricted housing.