Sign Up For Novogradac Industry Alert Emails

California Department of Industrial Relations Releases Ruling on the Rancho Santa Fe Village Senior Affordable Housing Project

Friday, February 25, 2005 - 7:30AM

The California Department of Industrial Relations has ruled that the Rancho Santa Fe Village Senior Affordable Housing Project in San Marcos, Calif. is not a public work and that its Section 42 federal tax credits and Section 142 tax-exempt bonds do not trigger prevailing wage.  The ruling covers only federal tax credits under Section 42 of the Internal Revenue Code and private activity bonds issued under the volume cap from the California Debt Limit Allocation Committee.  Accordingly, the use of other subsidies in the construction of a project may trigger the prevailing wage requirement. This ruling is likely to be appealed. Click here for a copy of the ruling.

Learn more about Novogradac's expertise and many services