Eighty-five applications for 9 percent low-income housing tax credits (LIHTCs) have been submitted in California’s first funding round of the year.
In addition, developers submitted 12 applications seeking 4 percent and tax-exempt bond financing, reports the California Tax Credit Allocation Committee. These applicants are requesting both federal and state credits.
The state has roughly $88 million in LIHTC authority this year.
The first-round deadline was March 5. The committee is expected to make its reservations in June.
The deadline for the second round is July 1.
For more information, visit http://www.treasurer.ca.gov/ctcac/.