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CTCAC Compliance Monitoring - State Treasurer's Office

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The document is a Tenant Income Certification form used to assess the income eligibility of tenants for low-income housing programs. It includes sections for development data, household composition, gross annual income, income from assets, rent details, student status, and program type. The form requires signatures from tenants and the owner or representative to certify the accuracy of the provided information and ensure compliance with federal regulations.

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What is CTCAC inspection?

CTCAC staff must conduct physical inspections of units and buildings in each development to ensure they are in safe, sanitary, and habitable condition. Project owners are also required to report complete and accurate project information to CTCAC annually.

What are the signage requirements for Tcac?

The signage shall include (1) TCAC logo, which is available on the TCAC website at , and (2) the agency name, California Tax Credit Allocation Committee. The signage must be visible from the street and must be proportionate to the size of other logos on a sign with

What is the meaning of Tcac in rent?

The California Tax Credit Allocation Committee (CTCAC) administers the federal and state Low-Income Housing Tax Credit (LIHTC) Programs. Both programs were created to promote private investment in affordable rental housing for low-income Californians.

What is the low-income housing tax credit program in California?

The LIHTC program reduces the federal tax liability in exchange for the acquisition, rehabilitation, or construction of affordable rental housing units that will remain income and rent restricted over a long period (55 years for California).

What are the unit size requirements for Tcac?

E) One-bedroom Low-Income Units must include at least 450 square feet and two-bedroom Low-Income Units must include at least 700 square feet of living space. These limits may be waived for rehabilitation projects, at the discretion of the Executive Director, prior to application submission.

What is the 140% rule?

Also called the Available Unit Rule or Next Available Unit Rule, the 140% Rule is triggered when a households income goes over 140% of the current maximum income limit for the household size.

What is the 140% rule for TCAC?

If the income of the occupants of a qualifying unit increases to more than 140% of the current income limit, the next unit of comparable or smaller size must be occupied by a qualified low-income Resident(s).

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