California Code of Regulations › Title 4 - Business Regulations › Division 9.5 - California Debt Limit Allocation Committee › Chapter 2 - Qualified Residential Rental Projects › Article 8 - Evaluation Criteria › Section 5231 - Ranking

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
After all Applications for Qualified Residential Rental
					 Projects are evaluated pursuant to Section
					 5230, the Applications shall be
					 ranked and may be awarded an Allocation as follows, except that a project shall
					 not receive a bond allocation if it had requested and is not scheduled to
					 receive an award of State Tax Credits:
(a) Applications for Rural Projects will be
				  ranked amongst themselves, and separately from Applications for all other
				  Qualified Residential Rental Projects. Applications for Rural Projects awarded
				  the greatest number of points after factoring in the tie breaker pursuant to
				  Section 5231(g), as applicable, shall be awarded an Allocation from the Rural
				  Pool. Applications for Rural Projects not receiving an Allocation will not be
				  eligible for consideration for an Allocation under subdivisions (b), (c) or (e)
				  of this section.
(b) Applications
				  for Preservation Projects will be ranked amongst themselves, and separately
				  from Applications for all other Qualified Residential Rental Projects.
				  Applications for Preservation Projects awarded the greatest number of points
				  after factoring in the tiebreaker pursuant to 5231(g) as applicable shall be
				  awarded an Allocation from the Preservation Project Pool. Applications for
				  Preservation Projects not receiving an Allocation pursuant to this subdivision
				  will not be eligible for consideration for an Allocation under subdivision (a),
				  (c) or (e) of this section.
(c)
				  Applications for Other Rehabilitation Projects will be ranked amongst
				  themselves, and separately from Applications for all other Qualified
				  Residential Rental Projects. Applications for Other Rehabilitation Projects
				  awarded the greatest number of points after factoring in the tie breaker
				  pursuant to Section 5231(g), as applicable, shall be awarded an Allocation from
				  the Other Rehabilitation Pool. Applications for Other Rehabilitation Projects
				  not receiving an Allocation pursuant to this subdivision will not be eligible
				  for consideration for an Allocation under subdivisions (a), (b) or (e) of this
				  section.
(d) Applications for BIPOC
				  Projects will be ranked amongst themselves, and separately from Applications
				  for all other Qualified Residential Rental Projects. Applications for BIPOC
				  Projects awarded the greatest number of points after factoring in the tie
				  breaker pursuant to Section 5231(g), as applicable, shall be awarded an
				  Allocation from the BIPOC Pool. Applications for BIPOC Projects not receiving
				  an Allocation pursuant to this subdivision shall be eligible for consideration
				  for an Allocation under subdivisions (a), (b), (c), and (e) of this
				  section.
(e) Applications for
				  Qualified Residential Rental Projects that are New Construction Projects,
				  exclusive of Rural Projects, will then be ranked together. Applications
				  receiving the greatest number of points after factoring in the tie breaker
				  pursuant to Section 5231(g), as applicable, shall be awarded an Allocation from
				  the New Construction Pool in the following manner.
(1)
(A) Set
				  Aside application selection. Beginning with the top ranked application from the
				  Homeless Set Aside, subject to the conditions in Section 5231(e)(1)(B),
				  followed by the Extremely Low/Very Low Income Set Aside, and the Mixed Income
				  Set Aside, the highest scoring applications in each Set Aside shall be awarded
				  an Allocation pursuant to the procedures in Section 5231(f). A project that
				  meets the criteria of both the Homeless Set Aside and the Extremely Low/Very
				  Low Income Set Aside shall be eligible for an allocation from either Set Aside.
				  All New Construction Projects, exclusive of Rural Projects, that do not receive
				  an allocation from a Set Aside shall be eligible for an allocation from their
				  respective geographic region pursuant to subdivision (e)(2).
(B) For purposes of the Homeless Set Aside
				  only, applications for projects in which at least 45% of the tax credit units
				  are designated for homeless households as defined in Section
				  10315(b)(1)-(4) of
				  the CTCAC regulations at affordable rents consistent with Section
				  10325(g)(3)  of
				  the CTCAC regulations shall be awarded an Allocation prior to any other
				  application eligible for the Homeless Set Aside provided that those projects
				  earn at least 95% (rounded down to the nearest whole number) of the maximum
				  available points pursuant to Section
				  5230.