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CTCAC Extends Readiness to Proceed Deadline for 2019 Second-Round Awardees

Thursday, March 19, 2020 - 9:45AM

The California Tax Credit Allocation Committee (CTCAC) announced Wednesday that the readiness to proceed deadline for 2019 second-round low-income housing tax credit (LIHTC) awardees with a 180-day deadline of March 23 has been extended to a 194-day deadline of April 6. CTCAC previously split the deadlines to assist parties involved in multiple concurrent closings, but now all properties with a 180-day deadline have a 194-day deadline. CTCAC also announced that it will not rescind a 2019 LIHTC reservation for failure to meet readiness-to-proceed requirements due to complications arising from the COVID-19 pandemic.

This and other state LIHTC agency responses to the COVID-19 pandemic can be found on Novogradac’s web page: COVID-19 Resources for the Affordable Housing, Community Development and Renewable Energy Communities

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