Applications for Disaster Tax Credits
The Consolidated Appropriations Act, 2021 (CAA) provided CTCAC with additional 9% federal tax credits for multifamily housing projects in certain disaster areas, in recognition of the 2020 wildfire disasters occurring in California. The disaster areas defined in the CAA are located in 22 of California’s 58 counties: Butte, Fresno, Lake, Lassen, Los Angeles, Madera, Mendocino, Monterey, Napa, San Bernardino, San Diego, San Mateo, Santa Clara, Santa Cruz, Shasta, Siskiyou, Solano, Sonoma, Stanislaus, Trinity, Tulare, and Yolo. Applicants may apply for disaster area federal tax credits provided CTCAC regulation and program requirements are met. Please refer application questions to TCAC Development Section (Applications) staff.
Disaster tax credit applications will be accepted for the CTCAC 2021 July 1 competitive round, and the 2022 competitive rounds, if applicable (please see TCAC Program Schedule & Deadlines). Certain application requirements have been modified for disaster tax credit applications. However, there is not a separate Excel application for disaster tax credits; for the July 2021 competitive round, complete the 2021 9% Competitive Tax Credit Application (June 17, 2021). The normal 9% tiebreakers are not applicable (please refer to CTCAC Regulation §10325(d)(1) for the disaster tax credit tiebreakers).
IMPORTANT NOTE For disaster tax credit applicants that are unsuccessful in the disaster tax credit competition: Unsuccessful applications for disaster tax credits will be considered in the normal 9% credit competition and will be scored and reviewed for compliance with all competitive application requirements. Applicants requesting more than $2,500,000 in federal tax credits are not eligible to compete in the normal 9% credit competition. Applicants requesting the disaster credit federal DDA basis boost are eligible to retain the basis boost in the normal 9% credit competition. CTCAC will evaluate applications based on the documents in the application; no new documentation may be submitted after the application deadline, unless permitted by CTCAC regulations.
Please refer application questions to TCAC Development Section (Applications) staff.