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California Tax Credit Allocation Committee

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Affordable Housing Projects Across the State Get Stimulus Money and $146 Million in Tax Credits - September 10, 2009

“The projects that these funds will enable are a critical piece of California’s economy,” said Treasurer Lockyer. “The credits will help spur new construction that will create jobs and the stimulus money will revive old projects, putting people back to work. Together they’ll provide a needed source of housing for low-income families and individuals.”

Affordable Housing Tax Credit Projects Across the State Will Get $310 Million in Federal Stimulus Dollars to Jumpstart Stalled Projects, and Create Needed Jobs and Housing - July 8, 2009

“Getting these funds out the door is vital to repairing California’s economy,” said Treasurer Lockyer. “By reviving these projects, we’ll create needed affordable housing for working Californians and their families, and we’ll help put people back to work.”

Twenty-seven Projects and Programs Will Get $1.14 billion in Tax-exempt Bond Financing and $146 million in Tax Credits Under Emergency Federal Housing Legislation. - December 3, 2008

“This financing will help many Californians move into their first home, while keeping many others from losing theirs,” said Treasurer Lockyer. “We’ll also be able to build much needed affordable housing. It’s a shot in the arm for California’s sagging economy, and I’m glad that we’re able to get the most out of this package.”

Treasurer's Office will move quickly to ensure California families fully benefit from emergency federal legislation to aid homeowners and the ailing housing market. - July 30, 2008

“This measure could not come at a better time for California families,” said Treasurer Lockyer. “The financing will lend crucial help to homeowners struggling with mortgages gone bad and families looking to buy their first home, and provide a much-needed boost for our state’s slumping housing market. My office will move quickly to fully allocate both sources of funding so Californians and our economy get the most out of this package.”

California developers will get more than $470 million in state and federal tax credits for low-income housing projects across the state from the California Tax Credit Allocation Committee (CTCAC). - September 26, 2007

“California faces a critical shortage of affordable housing for low-income workers and their families,” said Treasurer Lockyer. “Those seeking affordable housing often find no vacancy signs and long waiting lists. These credits provide the incentive and funding to get many needed housing projects off the ground and help meet the demand. I’m proud to play a part in making that happen.”