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§ 11001. Definitions.

4 CA ADC § 11001Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 4. Business Regulations
Division 17. California Tax Credit Allocation Committee Regulations Implementing the Federal and State Low-Income Housing Tax Credit Laws
Chapter 2. Farm Workers Housing Assistance Program
4 CCR § 11001
§ 11001. Definitions.
(a) Agricultural Worker or Farmworker. As defined in subdivision (b) of Section 1140.4 of the Labor Code.
(b) Allocation. The action taken by the Committee in awarding credit to an applicant.
(c) Cash flow or Cash flow after debt service. The gross income minus vacancy and collection loss, operating expenses, property taxes, replacement reserves and debt service.
(d) Committee. The California Tax Credit Allocation Committee.
(e) Compliance period. The period of 30 consecutive taxable or income years beginning with the taxable or income year in which the credit is allowable.
(f) Critical occurrence. A declaration of a federal or state emergency by the Governor of the State of California; or, a declaration by the Committee subsequent to an event or series of events occurring within a county or local area in which a Farmworker Housing Assistance Program project is located which threatens the welfare or safety of a project or the tenants of the project.
(g) Developer Fee. Amount of identified uses of project funds paid as compensation for developing a proposed project that includes all Credit consultant fees, broker fees, processing agent fees, developer overhead and profit, compensation for any construction management oversight provided by the developer, the cost of any personal guarantees, syndicator consulting fees, and reserves in excess of those customarily required by multi-family housing lenders.
(h) Economic Feasibility. Determinations of the Committee based upon evidence submitted by the applicant that financial capacity exists to complete or ensure completion of a project and to sustain, operate and maintain, or ensure the operation and maintenance of the project for the compliance period; and, that the project operating budget is adequate to operate the project for the compliance period
(i) Eligible Costs. Total finance costs, construction costs, excavation costs, installation costs and permit costs paid or incurred to construct or rehabilitate farmworker housing. Eligible costs include but are not limited to improvements to ensure compliance with laws governing access for persons with disabilities and costs related to reducing utility expenses. Non Eligible Costs include land and those costs financed by grants and below market financing provided by federal or State government.
(j) Family housing projects. A project where all units consist of 3 or more rooms for households as defined below.
(k) FTB. California Franchise Tax Board.
(l) Household. As defined in Section 7602 of Title 25 of the California Code of Regulations.
(m) Qualified accountant. As defined in Section 17053.14(f)(7) of the Revenue and Taxation Code.
(n) Qualified farmworker housing. Housing located within this state which satisfies the requirements of the Farmworker Housing Assistance Program as specified in Revenue and Taxation Code Section 17053.14(f)(5).
(o) Qualified year. As defined in Section 23608.2(a)(3) of the Revenue and Taxation Code.
(p) Reservation. The preliminary award of Credit to a proposed project intended to be eligible for Credit.
(q) Total Project Costs. Total finance costs, construction costs, excavation costs, installation costs, land costs and permit costs paid or incurred to construct or rehabilitate farmworker housing. Eligible costs include but are not limited to improvements to ensure compliance with laws governing access for persons with disabilities and costs related to reducing utility expenses. Non Eligible Costs include any costs associated with the syndication of the Credit.

Credits

Note: Authority cited: Section 50199.56, Health and Safety Code. Reference: Sections 50199.50, 50199.55(a) and 50199.56, Health and Safety Code; and Sections 17053.14(a), (b), (f), 23608.2(f) and 23608.3(f), Revenue and Taxation Code.
History
1. New section filed 9-29-98; operative 9-29-98 pursuant to Government Code section 11343.4(d) (Register 98, No. 40).
This database is current through 6/7/24 Register 2024, No. 23.
Cal. Admin. Code tit. 4, § 11001, 4 CA ADC § 11001
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