CTCAC Extends Readiness-to-Proceed Deadlines to Coincide with Bond Issuance Extensions
The California Tax Credit Allocation Committee (CTCAC) today voted to extend the readiness-to-proceed deadline for 4% federal and state low-income housing tax credits (LIHTCs). The automatic extension of the readiness-to-proceed deadline will align with bond issuance deadline extensions for the third round of 2021 California Debt Limit Allocation Committee (CDLAC) issuance. CTCAC cited market conditions from the COVID-19 pandemic as the reason for its decision.
The Novogradac Tax-Exempt Bond Handbook is a single-volume resource for regulations, guidance and legislation on the use of tax-exempt bonds in multifamily housing developments.