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LIHTC UpdateCalifornia developers request time to consider LIHTC changesBy Donna Kimura(Affordable Housing Finance, Jan. 17, 2005) Sacramento – For-profit and nonprofit developers called for more discussion of a series of proposed changes to the state’s low-income housing tax credit (LIHTC) program. During a Jan. 12 public hearing here, they urged staff members of the California Tax Credit Allocation Committee (CTCAC) to hold off on implementing any changes for the first allocation round. More time is needed to discuss and understand the potential impact of the proposed moves, said several developers and others in the LIHTC industry. Many of proposals revolve around three themes – rehabilitation, underwriting and points, said Lynn Wehrli, CTCAC executive director. Wehrli, who was appointed to her post in 2004, said the public comments would be considered before a decision is made. Some of the proposed changes are:
For more information, visit www.treasurer.ca.gov/ctcac/ctcac.htm. High-quality custom reprints and PDFs of this article from the print magazine may be available.
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