California
California Final FCAA Regulations; Meeting on June 17
The California Tax Credit Allocation Committee (TCAC) released the Final Proposed Regulation Changes implementing the new Further Consolidated Appropriations Act of 2020 (FCAA) credits. The Committee will consider the adoption of these changes at its meeting at 1:00 pm PT on June 17. Dial (888) 557-8511 participant code: 5651115 to join the call.
California Governor Releases Revised Budget
Governor Gavin Newsom released a revised state budget for California, which maintains earlier commitments to funding $500 million in State LIHTCs in 2021. The proposal also includes $750 million in federal Coronavirus Relief Funds to acquire hotels and motels so that homeless individuals temporarily sheltered through Project Roomkey will have a place to live after […]
California Updates Application Deadlines, Meeting Dates for Joint Four Percent Applications
The application deadline for California Tax Credit Allocation Committee (TCAC)-California Debt Limit Allocation Committee (CDLAC) joint-four percent applications has been moved from May 15, 2020 to June 11, 2020 for consideration at a September 16, 2020 Committee meeting.
California TCAC Schedules May 20 Meeting
The California Tax Credit Allocation Committee (TCAC) will host a meeting at 11:00 am PDT on May 20.
California Updates Applications with 2020 Rent and Income Limits
The California Tax Credit Allocation Committee (TCAC) updated its applications with 2020 rent and income limits. Applicants must complete and submit the updated TCAC application/Attachment 40 for all future application cycles in 2020
California Offers $141 Million TOD NOFA
The California Department of Housing and Community Development (CalHCD) released the Round Four Transit-Oriented Development (TOD) Housing Program final guidelines and Notice of Funding Availability for approximately $141 million.
California Offers $56.7 Million in Local Housing Trust Fund
The California Department of Housing and Community Development (HCD) announced the final Local Housing Trust Fund (LHTF) program guidelines. Proposition 1 authorized $300 million to the LHTF Program to provide matching grants to Local Housing Trust Funds so that they can fund affordable housing
California Proposed Emergency Regulation Changes Comments Due May 18
The California Tax Credit Allocation (TCAC) made another round of edits to their Proposed Emergency Regulation Changes. The new edits are in purple and primarily impact how the new federal tax credits will be apportioned among the counties.
Construction Under California’s Shifting Shelter-In-Place Orders
The California State Public Health Officer has taken the position that construction is an “essential business,” but …
Comments on California’s Draft 2020 MHP Guidelines Due May 5
The California Department of Housing and Community Development (HCD) released the Multifamily Housing Program (MHP) 2020 Draft Guideline amendments. Comments are due by 5:00 pm PT on May 5.
California HCD Guidance on Reporting Requirements, Compliance Monitoring
The California Department of Housing and Community Development’s (HCD) Asset Management and Compliance Branch created guidance related to asset management and compliance functions for projects in HCD’s portfolio. The guidance will be in effect beginning April 16, 2020 and re-evaluated on a continual basis.
California TCAC Extends LIHTC Deadlines
At the April 3 California Tax Credit Allocation (TCAC) meeting, the following scheduling and deadline changes were made: