CDLAC Publishes Memo Outlining Allocation Process Changes for Year

Wednesday, May 19, 2004 - 1:45AM

The California Debt Limit Allocation Committee (CDLAC) this week published a memo to outline the anticipated allocation process for the remainder of the program year. In the memo, CDLAC explains that due to the lack of certainty associated with committee approval of a new application system, and in order to provide predictability for the bond allocation process, the second application round will occur as previously scheduled. The deadline for the second round of applications will remain July 7 and current procedures (adopted December 17, 2003) will remain in effect for that round. Also at its June committee meeting, CDLAC staff will recommend a third application round for this program year with an October 1 application deadline. By that time, CDLAC expects to have revised procedures (to be adopted June 23, 2004) in effect and applicants will need to use revised application forms (which the committee expects to have posted online by June 25, 2004).

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