§ 5275. Minimum Goals.
CDLAC Regulations — Qualified Residential Rental Project Program (tax-exempt bond allocation) · 2026 edition · updated 2026-09-25 · California
(a) An Applicant receiving an Allocation for a Single Family Housing Program will be held accountable for achieving the minimum goals that were considered by the Committee in awarding the Allocation. The Committee will monitor on an annual basis the programs awarded an Allocation. An Applicant whose Single Family Housing
Program did not achieve the participation goals set forth in section 5266 in the previous calendar year, will have their Fair Share Allocation Amount reduced subject to following schedule:
| Performance Achievement Index | Performance Achievement Index | Percentage of FairShare Allocation Amount |
|---|---|---|
| 91% | -- 100% | 100% |
| 81% | --90% | 90% |
| 71% | --80% | 80% |
| 61% | -- 70% | 70% |
| 0% | --60% | 60% |
(b) The Committee may consider exceptions to the above schedule of reduced Allocation where the Applicant provides full written documentation of the reasons for the underachievement demonstrating that the circumstances surrounding the underachievement are beyond the control of the Applicant. The Committee may delegate the discretion to approve or deny an Applicant's request for such exception to the Chair or to the Executive Director.
NOTE: Authority cited: Section 8869.94, Government Code. Reference: Sections 8869.84(c), 8869.85(a) and 8869.85(b), Government Code.
Article 4. Single Family Housing Bonus Pool
Get a plain-English answer with a citation back to this text.
Ask AI about this code