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HCD Backfill Loan Agreement California Tax Credit Allocation Committee, American Recovery and Reinve

HCD Backfill Loan Agreement California Tax Credit Allocation Committee, American Recovery and Reinve 2026

HCD Backfill Loan Agreement California Tax Credit Allocation Committee, American Recovery and Reinve Preview on Page 1

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The document is a Loan Agreement between the California Tax Credit Allocation Committee and a Borrower for funding under the American Recovery and Reinvestment Act of 2009. It outlines the terms of a Bridge Loan to support the construction or rehabilitation of affordable housing developments, detailing definitions, loan disbursement procedures, insurance requirements, borrower obligations, events of default, and compliance with federal regulations. The agreement emphasizes the use of funds for eligible costs related to low-income housing projects and includes provisions for environmental compliance and non-discrimination.

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Click ‘Get Form’ to open the HCD Backfill Loan Agreement in our platform's editor.
Begin by entering the Borrower Name and Address in the designated fields at the top of the form. Ensure that all information is accurate to avoid delays.
Proceed to the Recitals section, where you will need to confirm details about property ownership and proposed improvements. Fill in any required specifics as outlined in your application.
In Article I, Definitions, review and complete any capitalized terms relevant to your agreement. This section is crucial for clarity on obligations and rights.
Move on to Article II regarding the Loan. Input the principal sum you are borrowing, ensuring it matches your financial documentation.
Complete all sections related to insurance requirements and covenants of Borrower in Articles III and VII respectively. These sections require careful attention to ensure compliance with state laws.
Finally, review all entries for accuracy before saving your document. Utilize our platform’s features for easy editing and signing.

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What is the purpose of the California earned income tax credit?

The California Earned Income Tax Credit (CalEITC) is a state-level tax credit that helps low-income workers and families in California. It supplements the federal Earned Income Tax Credit (EITC) by providing financial support based on income and family size.

How does Lihtc work 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 is California tax credit?

You may be eligible for a California Earned Income Tax Credit (CalEITC) up to $3,644 for tax year 2024 as a working family or individual earning up to $31,950 per year. You must claim the credit on the 2024 FTB 3514 form, California Earned Income Tax Credit, or if you e-file follow your softwares instructions.

What does the California tax credit allocation committee do?

In California, the state LIHTC agency is the CTCAC- California Tax Credit Allocation Committee. The CTCAC administers the federal and state Low-Income Housing Tax Credit Programs.

How does covered CA tax credit work?

The Advanced Premium Tax Credit is provided to those who qualify to help pay for health coverage. Your APTC is calculated based on your estimated annual household income, household size and where you live. If your income or family size changes, this may impact the APTC you receive.