ARRA FUND RECIPIENTS IN CALIF. REQUIRED TO ATTEND WORKSHOP

Tuesday, September 15, 2009 - 8:00am

The California Tax Credit Allocation Committee (TCAC) announced Friday that it will conduct mandatory loan workshops for recipients of Recovery Act funds. TCAC’s first workshop will be held in Sacramento on Monday, September 21; the second workshop will be presented in Los Angeles on Thursday, September 24. All applicants that have received a preliminary reservation of funds under the Section 1602 low-income housing tax credit (LIHTC) exchange program or the Tax Credit Assistance Program (TCAP) are required to attend one of the workshops. The TCAC workshops are meant to offer an overview of the loan process and provide a greater understanding of the disbursement procedures, reporting requirements and federal requirements, including environmental review, Davis-Bacon prevailing wages and Section 504 compliance.

For even more information on the exchange program and TCAP, please join us in San Francisco for the 16th Annual Affordable Housing Conference. California State Treasurer Bill Lockyer will provide the Keynote address at Thursday’s luncheon and Bill Pavao, executive director of TCAC, will serve on a panel of state housing agency representatives who will, in light of the recent legislation, address the state agencies’ new role.  For more details on the 16th Annual Affordable Housing Conference held October 1-2 at the InterContinental Hotel, click here.