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California TCAC Confirms LIHTC Reservations for 2003 Second Round

Wednesday, October 1, 2003 - 1:45AM

The California Tax Credit Allocation Committee (TCAC) met on September 29 to confirm the low-income housing tax credit (LIHTC) reservations for the 2003 second round allocation. Approximately $313,917,980 in 10-year federal credits and $28,275,691 in state credits were awarded to projects requesting 9 percent tax credits. Approximately $9,683,098 in state tax credits was awarded to tax-exempt bond projects. During the meeting, TCAC decided to reserve credits for certain projects not initially recommended for reservations and, therefore, the results distributed at the meeting may change. Certain counties were reserved more credits than the maximum available, using waivers allowed in TCAC regulations. These overages are expected to be funded from the credits available for 2004. Click here for a list of applicants. Details of LIHTC awardees will be posted as soon as they become available.

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