The California Tax Credit Allocation Committee (CTCAC) has issued a new memorandum a new scheduled Committee meeting date (June 22) to announce awards, and provides additional clarifying guidance for prospective second round applicants.
Advisory Guidance to Second Round Applicants
Second round applications shall be due Wednesday, July 13, 2011 rather than the previously indicated July 6th. TCAC staff will release a more detailed advisory regarding second round submittals in the near future. Additional guidance is also provided regarding the following areas:
- Environmental clearance for readiness scoring
- Budget adequacy for proposed resident services
- Budget adequacy for proposed resident services
- Maximum credit requests for rural projects competing in the At-risk Set-Aside
- Four award per round maximum within the 9% competition
- At-risk application’s eligibility opinion letter from legal counsel
- Schools as site amenities for housing types other than large family
