The California Tax Credit Allocation Committee has received 117 applications for 9 percent low-income tax credits (LIHTCs) and 10 applications for 4 percent tax credits in the second round of allocations.
The application deadline was July 25.
The new round comes after the committee recently completed its first round of allocations, awarding 9 percent LIHTC reservations to 55 properties across the state in July. They were selected from 118 applications.
CTCAC, which has approximately $80.6 million in federal tax credits this year, typically holds two funding cycles.
Developments financed in the first round include two projects in Southern California by AMCAL Multi-Housing. The firm received a $1.4 million reservation for Terracina Apartments, a 72-unit development in south Los Angeles. Fifteen units will be targeted to emancipated foster children who may otherwise be homeless. AMCAL also received a $954,718 reservation for the Argyle Apartments, a 40-unit community in Hollywood.
The firm plans to build the projects to LEED-Silver certification.
In Northern California, Half Moon Bay officials announced that two deals in their community received LIHTC reservations. The projects, Half Moon Village and Coastside Senior Housing, are part of a larger, interconnected seniors campus being built.
Developer MidPen Housing received an $870,087 reservation for the first phase of Half Moon Village. The initial phase will have 45 homes, with a second phase providing an additional 115, according to the city.
The award is one of three allocations that the nonprofit developer received in the round. MidPen Housing also received reservations for Aptos Blue, a 40-unit project in Aptos, and Garland Plaza, a rehabilitation deal in Sunnyvale.
The other Half Moon Bay development, Coastside Senior Housing, is a 40-unit development being built by Mercy Housing California and Lesley Senior Communities. It received an $827,074 LIHTC reservation.
Mercy Housing received four reservations in the first round. The other projects are El Monte Veterans, a new 41-unit development for veterans in El Monte; Neary Lagoon, a 95-unit rehab project in Santa Cruz; and Quinn Cottages, a 60-unit rehab deal in Sacramento.
For more information, visit www.treasurer.ca.gov/ctcac/.