California

California Tax Credit Allocation Committee announced proposed regulation changes to the Qualified Allocation Plan, along with a statement of reasons. If approved, TCAC will enact the changes on March 18, 2015. TCAC will hold a public hearing on the proposed changes on February 24, 2015.

Boston Capital is investing in the rehabilitation of San Diego Square, a 156-unit development for seniors located in downtown San Diego, CA. The development will be rehabilitated with tax credit equity from the Low Income Housing Tax Credit (LIHTC) program. Boston Capital’s investment in the development adds 156 units of affordable housing to its apartment portfolio. To date, Boston Capital has invested in more than 13,200 units of affordable housing in California.

The California Tax Credit Allocation Committee has updated the California Utility Allowance Calculator (CUAC) webpage. Changes include updated submission instructions and frequently asked questions (FAQs).

President Obama’s Better Buildings Challenge welcomed six new multifamily housing authority and owners. AHEAD, Inc (Littleton, NH), Gragg Cardona Partners (Washington, DC), Housing Authority of the Birmingham District (Birmingham, AL), Newark Housing Authority (Newark, NJ), The DeBruler Co. (Libertyville, IL), and Windsor Locks Housing Authority (Windsor Locks, CT) all announced they are joining the Challenge.

U.S. Department of Housing Urban Development Secretary Julián Castro and California Governor Jerry Brown announced a plan to expand financing for energy efficiency and solar energy in multifamily housing. Their plan includes unlocking property-assessed clean energy (PACE) financing for multifamily housing in California, establishing the California Master-Metered Multifamily Finance Pilot Project, and engaging philanthropy and the financial sector in supporting renewable energy in affordable housing.

California State Treasurer John Chiang appointed two new executive directors to key state housing programs as he launches a larger effort to address the state’s growing affordable housing crisis.

California Tax Credit Allocation Committee will hold 2015 Development Application Workshops.

The California Tax Credit Allocation Committee has released the Final Proposed 2015 Regulation Changes with Responses to Comments Received.

The non-competitive 4% tax exempt bond application submission deadline for the January 21, 2015 Committee Meeting was previously published incorrectly showing a deadline of December 21, 2014. The deadline has been corrected to November 21, 2014 and can be found on the California Tax Credit Allocation Committee website. If you did not submit your application […]

At the request of Treasurer Lockyer, California Tax Credit Allocation Committee (TCAC) staff is suspending its regulation promulgation process at this time. This decision will afford the new Treasurer and new State Controller an opportunity to participate in the rulemaking process for the 2015 program year. TCAC staff will advise the public of any future […]

NH&RA member firm California Commercial Investment Group, Inc. (CCI), a California-based national affordable housing preservation and development firm, recently celebrated the Grand Opening of Fickett Towers Senior Apartments in Van Nuys, CA

This week the California Tax Credit Allocation Committee (TCAC) and Other Agencies released the state’s long awaited California Affordable Housing Cost Study. Data was collected and analyzed from hundreds of multifamily projects completed between 2001-2011.