The California Tax Credit Allocation Committee has issued a notice that defines 2009 threshold basis limits for 9% and 4% tax credit applications. TCAC’s basis limit system is based on updated county and regional cost data and consists of new construction projects that have been awarded tax credits. The memo describes TCAC’s process for updating the data and provides 9% and 4% basis limits for studio, 1-bedroom, 2-bedroom, 3-bedroom and 4+ -bedroom apartments for 58 counties. read more…
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