- CDLAC Overview
- CDLAC Regulations and Application Instructions
- 2014 Allocation Activities
- Prior Program Years
- Applications Questions and Answers
- Filing an Appeal
Federal law limits how much tax-exempt debt a state can issue in a calendar year for Private Projects with a Qualified Public Benefit, with the cap determined by a population-based formula. CDLAC was created to set and allocate California’s annual debt ceiling, and administer the tax-exempt bond program to issue the debt.
Allocation is distributed among six primary program areas:
- The Qualified Residential Rental Project Program assists developers of multifamily rental housing.
- The Single-Family First-Time Homebuyer Program helps first-time buyers purchase homes.
- The Home Improvement and Rehabilitation Program helps finance alterations to an existing residence or the acquisition of a recently rehabilitated property.
- The Exempt Facility Program helps finance water, solid waste disposal and waste recycling facilities.
- The Industrial Development Bond Project Program helps provide financing for construction or expansion of manufacturing facilities, or the purchase of new equipment.
- The Beginning Farmer Program helps farmers finance construction or improvements on their property, or the purchase of agricultural land, breeder livestock or equipment.
Additionally, CDLAC allocates, if needed, to the Extra Credit Home Purchase Program, which helps teachers and school staff purchase a home and the Student Loan Program to help students and families pay for their higher education.
Year to Date Through
2014 State Debt Ceiling: $3,833,252,100
Multifamily Housing reservation: $1,250,000,000
Single-family Housing reservation: $900,000,000
Home Improvement and Rehabilitation reservation: $150,000,000
Industrial Development and Small Business reservation: $50,000,000 *
Exempt Facility reservation: $0
2014 Debt Ceiling Allocated, to date:
- Total number of residential rental units: 1023 of which 711 will be restricted to households earning 60% or less of the applicable median family income
Single Family Housing
- Total number of first-time homebuyers: 342
(Water, Pollution Control and Recycling)
For more information, please see the CPCFA website.
Industrial Development and Small Business
* Available through CIDFAC
For more information, please see the CIDFAC website