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CDLAC Sets Funding Priorities for 2004 Program Year

Monday, January 26, 2004 - 1:45AM

The California Debt Limit Allocation Committee (CDLAC) last week set funding priorities, procedures and application deadlines for the 2004 program year. Due to population increases, the available federal allocation of private activity bond authority to California will be $2,838,756,240 for 2004, an increase of approximately $200,000,000 over last year’s cap. Of that, CDLAC authorized the allocation of approximately $1,550,000,000 to qualified residential rental projects for 2004, an increase of approximately $100,000,000 over 2003. The first round application deadline is February 18.

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