California

TCAC will close the comment period for the pending regulation change proposals on August 31, as originally planned. Thereafter, TCAC will propose revisions to some of the proposed changes and open a new, shorter comment period to solicit comments only on the proposed revisions.

The State of California invites you to participate in a series of public workshops to provide input on a Concept Paper for the Second Investment Plan and the Draft Funding Guidelines for Agencies Administering California Climate Investments. These draft documents propose guidelines governing the Affordable Housing and Sustainable Communities (AHSC) and other programs funded by the Greenhouse Gas Reduction Fund.

The California Debt Limit Allocation Committee has proposed emergency regulations. Click here to access the proposed changes and information regarding public comments.

Affordable housing developers are deeply concerned by substantial changes that the California Tax Credit Allocation Committee has proposed for the state’s low-income housing tax credit program. Some of the changes would affect right of first refusal, the way equity is distributed following the sale or refinancing of a low-income housing tax credit property, and the way appraisers assess the value of properties.

The application deadline for 2015 second round low income housing tax credit applications was on Wednesday, July 1, 2015. The California Tax Credit Allocation Committee (TCAC) received a total of 87 nine percent (9%) applications and 4 four percent (4%) applications (requesting federal and state tax credits) in the second round of 2015. TCAC staff […]

The 2015 First Round 9% and 4% + State applications will be removed from the CTCAC website at 12pm on Monday, July 6th. If you wish to save any of them, please click the link below: 2015 First Round Nine Percent (9%) Applications 2015 First Round Tax-Exempt Bond Financed (4%) Applications Requesting Federal and State […]

The California Tax Credit Allocation Committee (TCAC) has since 2009 approved the use of the California Utility Allowance Calculator (CUAC) as a means for developers of new Low Income Housing Tax Credit (LIHTC) projects to determine tenants’ utility allowances.

The California Tax Credit Allocation Committee updated June 10 the QAP regulations and June 19 the 2015 Credit Estimates, which describes the allocation process for set asides and geographic regions.

Following the first round reviews of 9% and 4% state credit applications, the California Tax Credit Allocation Committee provided clarifications on rural set aside applications, market studies, lowest income point category, environmental clearance, approvals to begin construction, proposed regulation changes, state credit calculation, and other miscellaneous issues.

Yesterday, the Senate Transportation, Housing and Urban Development (THUD) Appropriations Subcommittee proposed to cut funding for the HOME Investment Partnerships program (HOME) by a staggering 93% from $900 million to just $66 million, all but eliminating the program.

CA Department of Housing and Community Development announced a $47.5 million Multifamily Housing notice of funding availability has been released.  Applications are due August 6, 2015.  Workshops are set for Sacramento (Wednesday, June 17) and Van Nuys (Tuesday, June 23).  If you plan on attending one of the workshops, you will need to print the […]

In a victory for affordable housing, the California Supreme Court ruled in favor of inclusionary housing ordinances. The City of San Jose won the case against the California Building Industry Association (CBIA), which filed a lawsuit in 2010 to challenge San Jose’s for-sale inclusionary zoning ordinance. The requires new for-sale residential developments of more than […]