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Applicant Large Family Eligibility Certification Attachment 4(A), Applicant Large Family Eligibility

Applicant Large Family Eligibility Certification Attachment 4(A), Applicant Large Family Eligibility 2025

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The document outlines the eligibility certification requirements for large family housing projects in California, detailing specifications for unit sizes, amenities, and financial support necessary to qualify for tax credits. It mandates that at least 30% of units must be three-bedroom or larger, sets minimum living space requirements, and includes provisions for common areas and recreational facilities. Additionally, it specifies long-term low-income use periods and requires documentation to verify compliance with these regulations.

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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 minimum unit size for Tcac?

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.

What are the requirements for a Tcac play area?

Play/recreational area for children ages 2-12 years shall be outdoors, and the minimum square footage is 600 square feet and must include an accessible entrance point. For projects with more than 100 total units this square footage shall be increased by 5 square feet for each additional unit.

What is Tcac regulation section 10320 B )( 2?

In addition, TCAC Regulation Section 10320(b)(2) requires that all transfer events, as defined in TCAC Regulation Section 10302(qq), shall obtain the prior written approval of the Executive Director and are conditioned upon the post-transfer event owner entering into a specified covenant with TCAC relating to the

What is a tax credit unit apartment?

A tax credit property provides affordable housing to low-income families and individuals, with the property owner participating in the federal Low-Income Housing Tax Credit (LIHTC) program. Through LIHTC, landlords can claim tax credits over a ten-year period by offering units at reduced rates to low-income tenants.

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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.

Applicant Large Family Eligibility Certification Attachment 4(A), Applicant Large Family Eligibility 2025

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What is the meaning of Tcac in rent?

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