TCAC PROPOSES CHANGE TO READINESS SCORING REGULATIONS

Thursday, September 30, 2010 - 8:00am

The California Tax Credit Allocation Committee (TCAC) yesterday proposed a change regarding readiness scoring. The proposed regulation change would allow nine percent low-income housing tax credit (LIHTC) project sponsors 180 days, rather than the current 150 days, to close their construction period financing and receive issued building permits. TCAC will hold a public hearing on October 5 to discuss the proposal and will also accept written comments through October 22.