§ 5200. Minimum Requirements -- Market Study.
4 CA ADC § 5200Barclays Official California Code of RegulationsEffective: May 31, 2023
Effective: May 31, 2023
4 CCR § 5200
§ 5200. Minimum Requirements -- Market Study.
The Market Study shall meet the current guidelines as required by the California Tax Credit Allocation Committee (CTCAC) in California Code of Regulations, Title 4, Section 10322(h)(10).
(c) A market study shall be updated when proposed subject project rents change by more than five percent (5%), or the distribution of higher rents increased by more than 5%, or 180 days have elapsed between the earliest site inspection date for the subject property or comparable properties and the application submission deadline for the round in which the Project is seeking an allocation. CDLAC shall not accept an updated market study when more than twelve (12) months have passed since the earliest listed site inspection date of either the subject property or any comparable property. In such cases, applicants shall provide a new market study.
(d) Acquisition/Rehabilitation projects subject to an existing Residential Rental Regulatory Agreement or a federal, state, or local operating or rental assistance agreement may provide, as an alternative to providing a market study and affordability matrices consistent with Section 5200(a), a comprehensive market study consistent with 26 U.S.C. Section 42 (m)(1)(A)(iii). The study shall be a written statement, certified by a third-party market analyst, which includes a current rent roll. In addition, the project shall meet at least one of the following requirements:
(1) as certified by a third-party market analyst, the proposed tenant paid rents and income targeting will not exceed one hundred-five percent (105%) of the current rents and targeting and a vacancy rate of no more than five percent (5%); for single room occupancy and special needs housing a vacancy rate of no more than ten percent (10%); or
(2) as evidenced by copies of executed contracts, that the Project has been receiving federal, state, or local operating or rental assistance and will continue to receive such assistance for at least five (5) additional years. If a contract demonstrating operating or rental assistance for an additional five (5) years is not available, a letter signed by the contractor's senior official may be submitted that describes the efforts undertaken to effectuate an operating or rental assistance contract, the expected duration of the contract, and the expected contract execution date.
Credits
Note: Authority cited: Section 8869.94, Government Code. Reference: Sections 8869.84(c), 8869.85(a) and 8869.85(b), Government Code.
History
1. New article 4 (section 5200) and 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 article 4 (section 5200) and 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 article 4 (section 5200) and 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, including amendment of section, transmitted to OAL 6-2-2011 and filed 7-1-2011 (Register 2011, No. 26).
5. Amendment filed 12-9-2011 as an emergency; operative 12-9-2011 (Register 2011, No. 49). A Certificate of Compliance must be transmitted to OAL by 6-6-2012 or emergency language will be repealed by operation of law on the following day.
6. New first paragraph, redesignation of portions of former section as new subsections (a)-(c) and new subsection (d) filed 4-4-2012 as an emergency; operative 4-4-2012 (Register 2012, No. 14). A Certificate of Compliance must be transmitted to OAL by 10-1-2012 or emergency language will be repealed by operation of law on the following day.
7. Amendment refiled 6-1-2012 as an emergency; operative 6-1-2012 (Register 2012, No. 22). A Certificate of Compliance must be transmitted to OAL by 8-30-2012 or emergency language will be repealed by operation of law on the following day.
8. Amendment refiled 8-29-2012 as an emergency; operative 8-29-2012 (Register 2012, No. 35). A Certificate of Compliance must be transmitted to OAL by 11-27-2012 or emergency language will be repealed by operation of law on the following day.
9. Certificate of Compliance as to 4-4-2012 order transmitted to OAL 9-6-2012 and filed 9-27-2012 (Register 2012, No. 39).
10. Certificate of Compliance as to 8-29-2012 order transmitted to OAL 11-26-2012 and filed 1-8-2013 (Register 2013, No. 2).
11. Amendment of first paragraph filed 7-10-2014 as an emergency; operative 7-10-2014 (Register 2014, No. 28). A Certificate of Compliance must be transmitted to OAL by 1-6-2015 or emergency language will be repealed by operation of law on the following day.
12. Certificate of Compliance as to 7-10-2014 order transmitted to OAL 11-26-2014 and filed 1-13-2015 (Register 2015, No. 3).
13. Amendment of subsections (c) and (d) and new subsections (e)-(e)(2) filed 11-9-2015 as an emergency pursuant to Government Code section 8869.94; operative 11-9-2015 (Register 2015, No. 46). A Certificate of Compliance must be transmitted to OAL by 5-9-2016 or emergency language will be repealed by operation of law on the following day.
14. Editorial correction of misspelling in first paragraph (Register 2016, No. 11).
15. Certificate of Compliance as to 11-9-2015 order transmitted to OAL 1-27-2016 and filed 3-10-2016 (Register 2016, No. 11).
16. Editorial correction of History 15 (Register 2016, No. 25).
17. Amendment of first paragraph and subsections (e)-(e)(1) filed 12-15-2016 as an emergency pursuant to Government Code section 8869.94; operative 12-15-2016 (Register 2016, No. 51). A Certificate of Compliance must be transmitted to OAL by 6-13-2017 or emergency language will be repealed by operation of law on the following day.
18. Amendment of first paragraph and subsections (e)-(e)(1) refiled 5-30-2017 as an emergency pursuant to Government Code section 8869.94; operative 6-14-2017 (Register 2017, No. 22). A Certificate of Compliance must be transmitted to OAL by 9-12-2017 or emergency language will be repealed by operation of law on the following day.
19. Reinstatement of section as it existed prior to 12-15-2016 emergency amendment by operation of Government Code section 11346.1(f) (Register 2017, No. 38).
20. Amendment of first paragraph and subsections (e)-(e)(1) filed 10-13-2017; operative 10-13-2017 pursuant to Government Code section 11343.4(b)(3) (Register 2017, No. 41).
21. Repealer of subsection (c) and subsection relettering filed 8-1-2022 as an emergency; operative 8-1-2022 (Register 2022, No. 31). A Certificate of Compliance must be transmitted to OAL by 1-30-2023 or emergency language will be repealed by operation of law on the following day.
22. Repealer of subsection (c) and subsection relettering refiled 2-9-2023 as an emergency; operative 2-9-2023 (Register 2023, No. 6). A Certificate of Compliance must be transmitted to OAL by 5-10-2023 or emergency language will be repealed by operation of law on the following day.
23. Certificate of Compliance as to 2-9-2023 order, including amendment of first paragraph and subsection (d), transmitted to OAL 4-18-2023 and filed 5-31-2023; amendments effective 5-31-2023 pursuant to Government Code section 11343.4(b)(3) (Register 2023, No. 22).
This database is current through 4/26/24 Register 2024, No. 17.
Cal. Admin. Code tit. 4, § 5200, 4 CA ADC § 5200
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