California Code of Regulations › Title 4 - Business Regulations › Division 9.5 - California Debt Limit Allocation Committee › Chapter 2 - Qualified Residential Rental Projects › Article 6 - Acquisition and Rehabilitation Projects › Section 5212 - Capital Needs Assessment

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Except as provided below for reapplications, the Applicant
					 shall submit a Capital Needs Assessment with report and inspection dates within
					 180 days prior to the Application deadline that details the condition and
					 remaining useful life of the building's major structural components, all
					 necessary work to be undertaken and its associated costs, as well as the nature
					 of the work, and distinguishing between immediate and long-term repairs. The
					 Capital Needs Assessment shall also include a fifteen (15) year reserve study,
					 indicating anticipated dates and costs of future replacements of all major
					 building components that are not being replaced immediately and the reserve
					 contributions needed to fund those replacements. The Capital Needs Assessment
					 shall be prepared by the Project's architect, as long as the architect has no
					 identity of interest with the Project Sponsor or other member of the
					 development team; or by a qualified independent third party who has no identity
					 of interest with any of the members of the development team. The Capital Needs
					 Assessment is not required if the Project, within the immediately preceding
					 three (3) years, received an Allocation and this requirement was satisfied in
					 the original Application. The Committee may permit the Capital Needs Assessment
					 of an unsuccessful application to be submitted, only once, in the reapplication
					 cycle immediately following the unsuccessful application.
1. New
					 section filed 7-29-2010 as an emergency; operative 7-29-2010 (Register 2010,
					 No. 31). A Certificate of Compliance must be transmitted to OAL by 1-25-2011 or
					 emergency language will be repealed by operation of law on the following
					 day.
2. New section refiled 1-6-2011 as an emergency; operative
					 1-6-2011 (Register 2011, No. 1). A Certificate of Compliance must be
					 transmitted to OAL by 4-6-2011 or emergency language will be repealed by
					 operation of law on the following day.
3. New section refiled
					 4-1-2011 as an emergency; operative 4-6-2011 (Register 2011, No. 13). A
					 Certificate of Compliance must be transmitted to OAL by 7-5-2011 or emergency
					 language will be repealed by operation of law on the following
					 day.
4. Certificate of Compliance as to 4-1-2011 order transmitted
					 to OAL 6-2-2011 and filed 7-1-2011 (Register 2011, No. 26).
5.
					 Amendment filed 6-3-2013 as an emergency; operative 6-3-2013 (Register 2013,
					 No. 23). A Certificate of Compliance must be transmitted to OAL by 12-2-2013 or
					 emergency language will be repealed by operation of law on the following
					 day.
6. Certificate of Compliance as to 6-3-2013 order transmitted
					 to OAL 11-14-2013 and filed 12-23-2013 (Register 2013, No. 52).
7.
					 Amendment filed 12-1-2017 as an emergency; operative 12-1-2017 (Register 2017,
					 No. 48). A Certificate of Compliance must be transmitted to OAL by 5-30-2018 or
					 emergency language will be repealed by operation of law on the following
					 day.
8. Amendment refiled 5-25-2018 as an emergency; operative
					 5-31-2018 (Register 2018, No. 21). A Certificate of Compliance must be
					 transmitted to OAL by 8-29-2018 or emergency language will be repealed by
					 operation of law on the following day.
9. Certificate of Compliance
					 as to 5-25-2018 order transmitted to OAL 8-9-2018 and filed 9-21-2018 (Register
					 2018, No. 38).
10. Amendment filed 5-10-2021 as an emergency;
					 operative 5-10-2021 (Register 2021, No. 20). Emergency expiration extended 60
					 calendar days pursuant to Executive Order N-40-20 plus an additional 60
					 calendar days pursuant to Executive Order N-71-20. A Certificate of Compliance
					 must be transmitted to OAL by 3-8-2022 or emergency language will be repealed
					 by operation of law on the following day.
11. Certificate of
					 Compliance as to 5-10-2021 order, including further amendment of section,
					 transmitted to OAL 4-11-2022 and filed 5-23-2022; amendments operative
					 5-23-2022 pursuant to Government Code section
					 11343.4(b)(3)
					 (Register 2022, No. 21).
Note: Authority cited: Section
						8869.94,
						Government Code. Reference: Sections
						8869.84(c),
						8869.85(a)
						and
						8869.85(b),
						Government Code.