For calendar year 2020, TCAC received an allocation of $500 million additional state tax credits for 4% credit new construction multifamily housing projects that can begin construction within 180 days from award (“4% + state credit NC”).  For 2020, TCAC must allocate housing credits using the non-competitive 4% credit requirements.  Of the $500 million, TCAC plans to set aside $200 million for projects receiving financing from the CalHFA Mixed-Income Program (MIP).  In addition, TCAC anticipates that projects that previously applied unsuccessfully for 9% credit in 2019 may consider restructuring the financing to utilize 4% + state credit.  TCAC may accept applications as early as November 2019 for a January 2020 reservation of credit.  Applicants must comply with TCAC’s requirement that a bond allocation from CDLAC is received within 90 days of a tax credit reservation, and bonds must be issued within CDLAC’s specified time limit.  While non-competitive, readiness and the 180 day timeline for beginning construction is critical.  

The survey questions below will assist TCAC in preparing for application submissions in 2020 and staff greatly appreciates your participation in this survey.  Survey responses are anonymous, TCAC is not tracking or collecting respondent identification.

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* 1. Are you primarily a:

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* 2. Are you aware of the allocation of $500 million additional state tax credits for 4% credit new construction multifamily housing projects?

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* 3. Do you plan to apply to TCAC for 4% + state credit NC?

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* 4. If yes, how many project applications do you anticipate submitting in 2020?

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* 5. Do you know approximately how much state credit your applications will request?

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* 6. Do you know approximately how much bond allocation your applications will request?

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* 7. Will you be able to put a 4% + state credit NC application together for a November 2019 application deadline (award in January 2020)?

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* 8. If not, do you anticipate that your first application will be in January 2020 (award in March 2020)?

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* 9. Do you anticipate applying in March 2020?

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* 10. Will any of these applications utilize HCD MHP funding?

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* 11. If an application to HCD is unsuccessful, do you plan to apply to TCAC with restructured financing utilizing state tax credits or additional state tax credits?

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* 12. Will any of your applications utilize CalHFA MIP + state credit funding?

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* 13. If an application to CalHFA is unsuccessful, do you plan to apply to TCAC with restructured financing utilizing (additional) state tax credit equity?

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* 14. General comments you would like to make:

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