The Latest
- Emergency Rulemaking 5-Day Pre-Notice
Posted 5/16/13 - Inducement-Reimbursement Resolution Reminder
Posted 4/25/13 - July 17, 2013 Schedule of Critical Dates
Posted 4/15/13 - 15-Day Notice of Public Rulemaking
Posted 3/22/13 - Update to the CDLAC March 11, 2011 Memorandum on Existing and Future Redevelopment Agency-Financed Projects
Updated 3/19/13 - Sean Spear’s Presentation – 2012 CDLAC Results to Date
Posted 3/8/13 - March 13, 2013 Meeting Agenda and Exhibit A
Posted 3/1/13 - Final Recommendations for March 13, 2013
Posted 3/1/13 - Qualified Energy Conservation Bond (QECB)
Allocation Available for Reallocation on May 15, 2013
Posted 2/13/13 - Community Revitalization Area Points Reminder for Dissolved Redevelopment Project Areas and Existing Enterprise Zones
Posted 2/7/13 - March 1st Compliance Reminder Memo
Posted 2/4/13 - Schedule of Critical Dates for May 15th Meeting
Posted 12/10/12 - 2012 Summary of Public Benefits Analysis
Posted 2/1/13 - List of Awards for December 12, 2012 Meeting
Posted 12/13/12 - Schedule of Critical Dates for March 13th Meeting
Posted 12/10/12 - Annual Issuer Self Certification
Posted 11/2/12 - 2013 Meeting Dates
Posted 9/27/12 - 2012 Affordable Housing Cost Study Public Participation and Information Page
Posted 6/18/12
Extra Credit Home Purchase Program
Extra Credit Home Purchase Program Description
State and local governmental agencies and joint powers
authorities can issue tax-exempt mortgage revenue bonds (MRBs)
or mortgage credit certificates (MCCs) to assist teachers,
principals and other credentialed school staff to purchase homes.
These agencies and authorities may issue MRBs, the proceeds of
which back below market interest rate mortgages. As an
alternative to issuing MRBs, state and local governmental
agencies and joint powers authorities may issue MCCs.
Homebuyers use the MCC to reduce their federal tax liability
by applying the credit to their net tax due.
Homebuyers may purchase single-family homes, either
free-standing detached homes, condominiums or townhouses.
Participants must be employed at a low-performing school (a
California K-12 public school that is ranked in the bottom 50%
of all the schools based on the most recent Academic
Performance Index (API), i.e. schools receiving an API
Statewide Ranking of 1, 2, 3, 4 or 5) and make a commitment to
work at a low performing school for at least three years. In
addition, Program participants must meet program income limits
and must purchase a home that falls within the program's
purchase price limitations.
There is currently no state or local administrator for this program.
- Extra Credit Home Purchase Programs Application
- Performance Deposit Certification Form
- Report of Action Taken Form for Bond Issues
- Annual Applicant Public Benefits and Ongoing Compliance Self-Certification Form
- Applications Q&A