TCAC TO CONSIDER EXTENSION OF READINESS DEADLINE
The California Tax Credit Allocation Committee (TCAC) has proposed an extension of the readiness deadline to first-round 2011 low-income housing tax credit award recipients with redevelopment agency funding commitments. The 90-day extension would apply to awardees that have already received one 90-day extension. The current loan closing date is March 19, 2012; the extension would extend the closing date to June 18, 2012. TCAC will hold a hearing on the proposal and other proposed changes to the state’s qualified allocation plan on February 22.
Questions about redevelopment agency funding for LIHTC properties can be directed to James R. Kroger, CPA at [email protected].