(From the San Diego Housing Federation) The California Tax Credit Allocation Committee (TCAC) has released a set of proposed changes to the state's tax credit guidelines. Hearings will be held in December for TCAC staff to hear comments on the changes. The proposed regulations include 18 changes, some quite significant and others clarification to prior regulations.
The new regulations are scheduled to be presented to the Committee for approval in February. Among the most significant would be an increase in the goal percentages for Single Room Occupancy (SRO) and Special Needs housing types up to 15% each. According to TCAC, the current system virtually assures that no Special Needs projects are likely to compete successfully against large family projects outside of the nonprofit setaside since homeless assistance projects are the preemptive priority in that competition. The proposed changes would permit SROs and Special Needs projects to compete under the final tiebreaker further into the competitive award process. As a practical effect, TCAC notes that fewer family projects could result if SROs and Special Needs projects possess stronger final tiebreakers.
The proposed changes would also limit in the second round of 2010 the number of applications received from individuals, entities, affiliates and related entities to no more than two per set-aside or geographic apportionment per round, and no more than four per round total.
Among the other proposed changes are:
• a redefinition of the application scoring tiebreakers;
• clarification of the definition of grocery store;
• moving internet service scoring from the service amenity category to the site amenity category;
• an expansion of the service options and greater clarity in evaluating and scoring project services plans;
• requiring an additional manager's unit for every additional 80 units within a project; and
• changing the timeline for placed-in-service application from one-year to six months of completing construction.
The proposed regulations are available at http://www.treasurer.ca.gov/ctcac/programreg/20091123.asp
The Los Angeles meeting will be on December 4 at 10:00 AM at the Milenium Biltmore, 506 S. Grand, in Downtown Los Angeles. For information, please visit this link.
Take Action on on redevelopment and help protect housing funds now!
In continuing efforts to increase access to supportive housing for high utilizers of public health resources, and maximize the efficient use of scarce public resources, City and County Departments issued the first collaborative Notice of Funding Availability (NOFA) last month.
