- CDLAC Overview
- CDLAC Regulations and Application Instructions
- 2013 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 seven program areas. The Qualified Residential Rental Project Program assists developers of multifamily rental housing units, the Single-Family First-Time Homebuyer Program assists first-time homebuyers with their home purchase, the Home Improvement and Rehabilitation Program assists in the financing of alterations to an existing residence and/or assist in the financing of the acquisition of a recently rehabilitated property, the Exempt Facility Program helps finance water, solid waste disposal and waste recycling facilities; and the Industrial Development Bond Project Program helps construct or expand manufacturing facilities, and/or purchase new 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
2013 State Debt Ceiling: $3,613,935,850
Multifamily Housing reservation: $1,250,000,000
Single-family Housing reservation: $750,000,000
Industrial Development and Small Business reservation: $50,000,000 *
Exempt Facility reservation: $0 **
2013 Debt Ceiling Allocated, to date:
- Total number of residential rental units: 1,436 of which 1,360 will be restricted to households earning 60% or less of the applicable median family income
Single Family Housing
- Total number of first-time homebuyers: 120
(Water, Pollution Control and Recycling)
** $2.9 billion is currently available through CPCFA.
For more information, please see the CPCFA website.
Industrial Development and Small Business
* Available through CIDFAC
For more information, please see the CIDFAC website