The California Tax Credit Allocation Committee estimates that its total federal credit ceiling is $93,025,488 for the year ahead. TCAC also has $60,942,981 in state credits available to allocate.
TCAC has set-aside $39,070,706 of its federal credit authority for nonprofit developers, rural development, at-risk housing, special needs/SRO housing, and a supplemental set-aside. TCAC plans to allocate $18,639,971 of this set-aside funding during Round 1. TCAC distributed the remaining credit authority among the state’s geographic regions, with the City of Los Angeles, the rest of LA County, and the North and East Bay Region receiving the highest allocations.
TCAC set-aside 15% of its state credit authority for bond financed projects.
TCAC will also make $5,047,118 in State Farmworker Tax Credits available in 2016.
Click here to see the estimates as of February 1, 2016.
