The California Tax Credit Allocation Committee (TCAC) will hold public meetings on January 30 and 31 on its proposed emergency regulation changes, which set the allocation rules for the approximately $1 billion of new Federal LIHTCs from the Further Consolidated Appropriations Act of 2020. The new federal credits would be allocated first to the 13 disasters counties: Butte, Lake, Los Angeles, Mendocino, Napa, Nevada, Orange, San Diego, Santa Barbara, Shasta, Sonoma, Ventura and Yuba. TCAC designates the aforementioned counties as difficult development areas (DDAs) and are therefore entitled to the 30 percent basis boost.
If there is not enough demand for all the $1 billion in new credits, they would then be allocated to projects for homeless households, then single room occupancy (SRO), then the general rounds. The regulations also re-introduce the SRO housing type that was eliminated in December of 2017.
Comments should be sent to [email protected] and [email protected] by 5:00 pm PT on February 12.
The meetings will take place at the following times and locations:
January 30, 2020 at 3:30 pm PT
San Diego Housing Commission
1122 Broadway, 4th Fl Conference Room
San Diego, CA 92101
January 31, 2020, 12:30 pm PT
Ronald Reagan State Building
300 South Spring Street
Los Angeles, CA 90013
