Update on Proposed Use of TCAP and 1602 funds for California’s Multifamily Affordable Developments IPED June 5, 2009 Presented by: Jeanne Peterson, Principal [email protected] “TCAP” Tax Credit Assistance Program .
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Update on Proposed Use of TCAP and 1602 funds for California’s Multifamily Affordable Developments IPED June 5, 2009Presented by: Jeanne Peterson, [email protected]
All credit agency restrictions relating to the tax credit award (rent, income, others) apply
40% of annual per capita credit for 2009
+ 40% of state’s share of national pool credit
+ 100% of unallocated 2008 credit
+ 100% of credit returned in 2009
5 pts for each % that average affordability is below 60% AMI