CALIFORNIA DEBT LIMIT ALLOCATION COMMITTEE
CALIFORNIA TAX CREDIT ALLOCATION COMMITTEE
Project Staff Report
Qualified Private Activity Tax-Exempt Bond Project
May 12, 2026
The project, 1200 Main, located at 1200 North Main Street in Santa Ana on a 1.6 acre site, requested and is being recommended for a reservation of $2,867,974 in annual federal tax credits and $18,192,172 of tax- exempt bond cap to finance the adaptive reuse of 190 units of housing, consisting of 188 restricted rental units and 2 unrestricted manager's units. The project has 16 studio units, 168 one-bedroom units, and 6 two- bedroom units, serving tenants with rents affordable to households earning 30%-70% of area median income (AMI). The rehabilitation is expected to begin in November 2026 and be completed in May 2028. The project will be developed by 1200 Main GP, LLC and will be located in Senate District 34 and Assembly District 68.
Project Number CA-26-434
Project Name 1200 Main
Site Address: 1200 North Main Street
Santa Ana, CA 92701
County: Orange
Census Tract: 750.03
Tax Credit Amounts
Federal/Annual State/Total *
Requested: $2,867,974 $0
Recommended: $2,867,974 $0
Tax-Exempt Bond Allocation
Recommended: $18,192,172
CTCAC Applicant Information
CTCAC Applicant/CDLAC Sponsor: 1200 Main GP, LLC
Contact: Miki Nam
Address: 3470 Wilshire Boulevard
Los Angeles, CA 90010
Phone: (213)
365-
5000
Email: [email protected]
Bond Financing Information
CDLAC Applicant/Bond Issuer: California Municipal Finance Authority Bond Counsel: Orrick, Herrington & Sutcliffe LLP
Private Placement Purchaser: Citibank, N.A.
CA-26-434 1 May 12, 2026
EXHIBIT 1
Development Team
General Partners / Principal Owners: Kingdom Solis LLC
1200 Main GP, LLC
General Partner Type: Joint Venture
Parent Companies: Kingdom Development, Inc.
Arden Residential, LLC
Developer: 1200 Main GP, LLC
Investor/Consultant: R4 Capital
Management Agent: Aperto Property Management, Inc.
Project Information
Construction Type: Adaptive Reuse
Total # Residential Buildings: 1
Total # of Units: 190
No. / % of Low Income Units: 188 100.00%
Average Targeted Affordability: 59.95%
Federal Set-Aside Elected: 40%/60% Average Income
Federal Subsidy: Tax-Exempt
Information
Housing Type: Non-Targeted
Geographic Area: Coastal Region
State Ceiling Pool: New Construction
CDLAC Project Analyst: Anthony Wey
CTCAC Project Analyst: Michael Couzens
55-Year Use / Affordability
Aggregate Percentage of
Targeting Number of Units Affordable Units
30% AMI: 20 11%
50% AMI: 19 10%
60% AMI: 71 38%
70% AMI*: 78 41%
*CTCAC restricted only
Unit Mix
16 SRO/Studio Units
168 1-Bedroom Units
6 2-Bedroom Units
190 Total Units
CA-26-434 2 May 12, 2026
EXHIBIT 1
Unit Type 2025 Rents Targeted % of Proposed Rent
& Number Area Median Income (including utilities)
2 SRO/Studio 30% $888
2 SRO/Studio 50% $1,481
6 SRO/Studio 60% $1,777
6 SRO/Studio 70% $2,073
17 1 Bedroom 30% $952
17 1 Bedroom 50% $1,586
63 1 Bedroom 60% $1,903
69 1 Bedroom 70% $2,220
1 2 Bedrooms 30% $1,142
2 2 Bedrooms 60% $2,284
3 2 Bedrooms 70% $2,664
2 1 Bedroom Manager’s Unit $2,330
Project Cost Summary at Application
Land and Acquisition $11,000,000
Construction Costs $36,704,290
Rehabilitation Costs $0
Construction Hard Cost Contingency $1,790,214
Soft Cost Contingency $450,000
Relocation $0
Architectural/Engineering $1,789,250
Const. Interest, Perm. Financing $7,638,068
Legal Fees $825,000
Reserves $981,362
Other Costs $2,931,608
Developer Fee $7,193,915
Commercial Costs $0
Total $71,303,707
Residential
Construction Cost Per Square Foot: $305
Per Unit Cost: $375,283
Estimated Hard Per Unit Cost: $165,263
True Cash Per Unit Cost*: $342,200
Bond Allocation Per Unit: $95,748
Bond Allocation Per Restricted Rental Unit: $165,383
Construction Financing Permanent Financing
Source Amount Source Amount
Citibank: Tax-Exempt $18,192,172 Citibank $40,069,185
Citibank: Recycled Tax-Exempt $5,000,000 Deferred Developer Fee $6,285,643 Citibank: Taxable $32,971,208 Tax Credit Equity $24,948,879 Deferred Costs $11,397,995 TOTAL $71,303,707
Tax Credit Equity $3,742,332
*Less Donated Land, Seller Carryback Loans, Waived Fees, and Deferred Developer Fee CA-26-434 3 May 12, 2026
EXHIBIT 1
Determination of Credit Amount(s)
Requested Eligible Basis: $55,153,354
130% High Cost Adjustment: Yes
Applicable Fraction: 100.00%
Qualified Basis: $71,699,360
Applicable Rate: 4.00%
Total Maximum Annual Federal Credit: $2,867,974
Approved Developer Fee (in Project Cost & Eligible Basis): $7,193,915 Federal Tax Credit Factor: $0.86991
Except as allowed for projects basing cost on assumed third party debt, the “as if vacant” land value and the existing improvement value established at application for all projects, as well as the eligible basis amount derived from those values, shall not increase during all subsequent reviews including the placed in service review, for the purpose of determining the final award of Tax Credits. The sum of the third party debt encumbering the property may increase during subsequent reviews to reflect the actual amount.
CTCAC Significant Information / Additional Conditions: None.
CDLAC Analyst Comments: None.
Resyndication and Resyndication Transfer Event: None.
Standard Conditions
The applicant shall issue bonds within time limits specified by CDLAC.
The applicant anticipates financing more than 25% of the project aggregate basis with tax-exempt bond proceeds as calculated by the project tax professional. Therefore, the federal credit reserved for this project will not count against the annual ceiling.
State tax credit recipients are limited to cash distributions from project operations pursuant to California Revenue and Taxation Code Section 12206(d). By accepting the tax credit reservation, the applicant/owner is agreeing to comply with the statutory limitations and requirements.
CTCAC makes the preliminary reservation only for the project specified above in the form presented, and involving the parties referred to in the application. No changes in the development team or the project as presented will be permitted without the express approval of CTCAC.
The applicant must pay CTCAC a reservation fee calculated in accordance with regulation. Additionally, CTCAC requires the project owner to pay a monitoring fee before issuance of tax forms.
As project costs are preliminary estimates only, staff recommends that a reservation be made in the amount of federal credit and state credit shown above on condition that the final project costs be supported by itemized lender approved costs and certified costs after the buildings are placed in service.
All unexpended funds in reserve accounts established for the project must remain with the project to be used for the benefit of the property and/or its residents, except for the portion of any accounts funded with deferred developer fees.
All fees charged to the project must be within CTCAC limitations. Fees in excess of these limitations will not be considered when determining the amount of credit when the project is placed-in-service.
CA-26-434 4 May 12, 2026
EXHIBIT 1
If the applicant has requested the use of a CUAC utility allowance, CTCAC's Compliance staff will review the CUAC documentation for this project prior to placed in service. Until written approval is received from CTCAC, this project is not eligible to use a utility allowance based on the CUAC.
The applicant/owner shall be subject to underwriting criteria set forth in Section 10327 of the regulations through the final feasibility analysis performed by CTCAC at placed-in-service.
Credit awards are contingent upon applicant's acceptance of any revised total project cost, qualified basis, and tax credit amount determined by CTCAC in its final feasibility analysis.
CDLAC Additional Conditions
The applicant/owner is required to comply with the CDLAC resolution and the terms of the bond and tax credit award as presented in the application and summarized in this staff report. CTCAC will verify the project complied with all terms of the award at placed-in-service review.
If points were awarded by CDLAC for housing type, the project shall comply with the housing type requirements at the time of CTCAC’s Placed In Service review. The housing type requirement shall be conditioned in the CTCAC Regulatory Agreement and CTCAC Compliance staff shall verify the project is meeting those housing type requirements, consistent with California Code of Regulations, title 4, section 10322(i).
CA-26-434 5 May 12, 2026
EXHIBIT 1
CA-26-434 / 1200 Main
Max. Possible Points Points Points System New Rehab. Requested AwardedConst.
New Construction Density and Local Incentives 10 0 10 10 Project is located in a "pro-housing" jurisdiction 10 0 10 10 Exceeding Minimum Income Restrictions 20 20 20 20
Tax Credit Units: 10% @ <=30% AMI & 10% @ <=50% AMI 20 0 20 20 Exceeding Minimum Rent Restrictions 10 10 10 10
Average targeted affordability is 17% below market comparables 10 10 10 10 General Partner & Management Company 10 10 10 10
General Partner Experience 7 7 7 7
Management Company Experience 3 3 3 3
Housing Needs 10 0 10 10
Readiness to Proceed 10 10 10 10
Access to Opportunity 10 0 9 9
10% @ 30% AMI, 10% @ 50% AMI 9 0 9 9
Service Amenities 10 10 10 10
LARGE FAMILY, SENIOR, AT-RISK HOUSING TYPES; NON-TARGETED Adult ed/health & wellness/skill bldg classes, min. 84 hrs/yr instruction 7 7 7 7 Health & wellness services and programs, minimum 60 hrs per 100 bdrms 3 3 3 3 Cost Containment 12 12 12 12
Project eligible basis is 56% less that the CDLAC adjusted TBL; 1 pt per % 12 12 12 12 Site Amenities 10 10 10 10
Within ⅓ mile of transit, service every 30 min, 25 units/acre density 7 7 7 7 Within ½ mile of public park or community center open to general public 3 3 3 3 Within ½ mile of public library 3 3 3 3
Within ½ mile of a full-scale grocery/supermarket of at least 25,000 sf 5 5 5 5 Within 1 mile of an adult education campus or community college 3 3 3 3 Within ½ mile of medical clinic or hospital 3 3 3 3
Within ½ mile of a pharmacy 2 2 2 2
Total Points 112 102 111 111
Tie Breaker: 285.048%
CA-26-434 CDLAC Scoring, Page 6 May 12, 2026
EXHIBIT 1
CALIFORNIA DEBT LIMIT ALLOCATION COMMITTEE
Preliminary Staff Recommendations*
To be Considered on May 12, 2026
NON-GEOGRAPHIC POOLS
ROUND 3 ALLOCATION
$45,500,000
REMAINING
$5,908,817BIPOC 2026 2025 2024 TOTAL FEDERAL CREDIT STATE CREDIT APPLICATION NUMBER CDLAC APPLICANT PROJECT NAME TOTAL UNITS CITY COUNTY BOND CAP CARRYFORWARD CARRYFORWARD ALLOCATION POINTS TIEBREAKER HOMELESS % REQUESTED REQUESTED 26-481 California Municipal Finance Authority Bella Village Apartments 131 San Ramon Contra Costa $0 $18,240,960 $0 $18,240,960 112 169.160% 0.000% $3,305,483 $6,138,843 26-438 California Municipal Finance Authority 679 Harvard 114 Los Angeles Los Angeles $0 $10,214,794 $0 $10,214,794 111 295.453% 0.000% $1,908,775 $0 26-509 California Municipal Finance Authority Imperial & Main 120 Los Angeles Los Angeles $0 $11,135,429 $0 $11,135,429 111 226.089% 0.000% $2,090,759 $0 $0 $39,591,183 $0 $39,591,183 $7,305,017 $6,138,843
ROUND 3 ALLOCATION
$350,000,000
REMAINING
$5,122,292ACQUISITION/REHABILITATION 2026 2025 2024 TOTAL
FEDERAL CREDIT STATE CREDIT
APPLICATION NUMBER CDLAC APPLICANT PROJECT NAME TOTAL UNITS CITY COUNTY BOND CAP CARRYFORWARD CARRYFORWARD ALLOCATION POINTS TIEBREAKER HOMELESS % REQUESTED REQUESTED 26-426 California Municipal Finance Authority Roscoe Apartments 25 Los Angeles Los Angeles $0 $3,460,645 $0 $3,460,645 102 223.331% 0.000% $464,604 $1,185,965 26-467 California Statewide Communities Development Authority Island Gardens 122 San Diego San Diego $14,355,000 $0 $0 $14,355,000 102 216.472% 0.000% $2,010,496 $0 26-450 California Municipal Finance Authority Westwood I Apartments 102 Coalinga Fresno $0 $8,756,056 $0 $8,756,056 102 190.707% 0.000% $1,240,849 $4,031,665 26-461 California Municipal Finance Authority Sherman Way Biltmore Apartments 102 Reseda Los Angeles $0 $3,557,662 $20,904,338 $24,462,000 102 161.450% 0.000% $2,447,211 $0 26-483 California Municipal Finance Authority Bella Vista Apartments 150 El Cajon San Diego $28,186,102 $0 $0 $28,186,102 102 155.262% 0.000% $4,046,080 $0 26-523 Housing Authority of the County of Sacramento Auburn Falls, LP 76 Fair Oaks; Citrus Heights; Carmichael Sacramento $0 $0 $12,151,052 $12,151,052 101 284.403% 0.000% $1,596,026 $0 26-408 Housing Authority of the County of Kern Baker Street Village RAD 37 Bakersfield Kern $5,000,000 $0 $0 $5,000,000 101 268.796% 0.000% $761,198 $0 26-412 California Municipal Finance Authority George McDonald Court 61 Los Angeles Los Angeles $0 $0 $8,942,000 $8,942,000 101 237.484% 0.000% $1,324,941 $0 26-512 City of Los Angeles Housing Department Adda and Paul Safran Senior Housing 64 Venice Los Angeles $11,189,000 $0 $0 $11,189,000 101 228.576% 0.000% $1,659,953 $0 26-519 California Housing Finance Agency Potiker Family Senior Residence 200 San Diego San Diego $17,700,000 $0 $0 $17,700,000 100 411.110% 0.000% $2,590,109 $0 26-456 California Municipal Finance Authority Vacaville Autumn Leaves 56 Vacaville Solano $5,323,537 $0 $0 $5,323,537 100 314.847% 0.000% $895,494$ 0 26-442 California Municipal Finance Authority Montecito Vista 162 Irvine Orange $0 $0 $21,677,269 $21,677,269 100 284.121% 0.000% $3,543,691 $0 26-440 California Municipal Finance Authority San Clemente Family Homes 79 Corte Madera Marin $15,034,806 $0 $0 $15,034,806 100 278.383% 0.000% $2,476,650 $0 26-480 California Municipal Finance Authority Van Nuys Apartments 299 Los Angeles Los Angeles $42,000,000 $0 $0 $42,000,000 100 267.303% 0.000% $7,016,725 $0 26-522 California Municipal Finance Authority Ashby Lofts 54 Berkeley Alameda $9,168,061 $0 $0 $9,168,061 100 261.830% 0.000% $1,188,169 $0 26-471 California Housing Finance Agency Lakeshore Villa Apartments 126 San Diego San Diego $20,500,000 $0 $0 $20,500,000 100 248.450% 0.000% $3,182,239 $0 26-520 California Municipal Finance Authority Mammoth Lakes Family Apartments 78 Mammoth Lakes Mono $8,700,726 $0 $0 $8,700,726 100 214.452% 0.000% $1,424,510 $0 26-449 California Municipal Finance Authority Garden Court Apartments 84 Santa Ana Orange $17,000,000 $0 $0 $17,000,000 100 146.447% 0.000% $2,731,349 $0 26-517 California Statewide Communities Development Authority Santa Rosa Garden Apartments 111 Santa Rosa Sonoma $15,200,000 $0 $0 $15,200,000 99 343.585% 0.000% $2,120,877 $0 26-494 California Housing Finance Agency First Congregational Memorial Tower 100 San Diego San Diego $0 $0 $11,950,000 $11,950,000 99 314.156% 0.000% $2,026,757 $0 26-511 California Housing Finance Agency Green Manor Apartments 149 San Diego San Diego $19,300,000 $0 $0 $19,300,000 99 262.924% 0.000% $3,280,956$ 0 26-477 Housing Authority of the County of Kern Village Park Senior Apartments 60 Bakersfield Kern $3,500,000 $0 $0 $3,500,000 92 471.480% 0.000% $546,219 $0 26-510 California Municipal Finance Authority Shadow Way 144 Oceanside San Diego $17,721,454 $0 $0 $17,721,454 92 246.363% 0.000% $2,490,690 $0 26-409 Housing Authority of the County of Kern Terra Vista RAD 35 Shafter Kern $3,600,000 $0 $0 $3,600,000 91 223.235% 0.000% $567,195 $0 $253,478,686 $15,774,363 $75,624,659 $344,877,708 $51,632,988 $5,217,630 ROUND 3 ALLOCATION
$45,500,000
REMAINING
$4,795,983RURAL NEW CONSTRUCTION 2026 2025 2024 TOTAL FEDERAL CREDIT STATE CREDIT APPLICATION NUMBER CDLAC APPLICANT PROJECT NAME TOTAL UNITS CITY COUNTY BOND CAP CARRYFORWARD CARRYFORWARD ALLOCATION POINTS TIEBREAKER HOMELESS % REQUESTED REQUESTED 26-429 California Municipal Finance Authority 430 West Wall Apartments 78 Imperial Imperial $4,910,634 $0 $4,339,366 $9,250,000 112 205.580% 0.000% $1,689,308 $24,293,785 26-490 California Municipal Finance Authority Chaparral Place 50 Ojai Ventura $11,889,580 $0 $0 $11,889,580 112 176.736% 0.000% $1,606,845 $9,293,785 26-423 California Municipal Finance Authority Cambria Pines Apartments 33 Cambria San Luis Obispo $7,670,563 $0 $0 $7,670,563 111 147.098% 24.242% $1,077,197 $1,948,736 26-439 California Municipal Finance Authority Fillmore Terrace 50 Fillmore Ventura $11,893,874 $0 $0 $11,893,874 111 112.003% 26.531% $1,618,660 $9,584,092 $36,364,651 $0 $4,339,366 $40,704,017 $5,992,010 $20,826,613
NEW CONSTRUCTION SET ASIDES
ROUND 3 ALLOCATION REMAINING
HOMELESS $227,500,000 ($1,014,459) 2026 2025 2024 TOTAL FEDERAL CREDIT STATE CREDIT APPLICATION NUMBER CDLAC APPLICANT PROJECT NAME TOTAL UNITS CITY COUNTY BOND CAP CARRYFORWARD CARRYFORWARD ALLOCATION POINTS TIEBREAKER HOMELESS % REQUESTED REQUESTED 26-443 California Municipal Finance Authority VTA Capitol Station 203 San Jose Santa Clara $49,738,047 $0 $0 $49,738,047 112 199.208% 25.373% $6,572,158 $15,925,764 26-436 California Municipal Finance Authority Camino Commons 79 Mountain View Santa Clara $23,650,730 $0 $0 $23,650,730 112 142.375% 30.769% $3,668,820 $9,665,895 26-431 California Municipal Finance Authority 1318 4th Street 122 Santa Monica Los Angeles $36,583,168 $0 $0 $36,583,168 112 118.814% 41.667% $6,285,456 $14,377,047 26-468 San Diego Housing Commission 73rd Street Apartments 120 San Diego San Diego $23,558,532 $0 $0 $23,558,532 111 235.065% 25.210% $4,121,332 $0 26-498 California Statewide Communities Development Authority Palm Villas at State 109 Hemet Riverside $18,526,051 $0 $0 $18,526,051 111 219.584% 25.926% $3,414,151 $5,970,155 26-472 California Municipal Finance Authority 285 12th Street 65 Oakland Alameda $14,574,421 $0 $0 $14,574,421 111 215.790% 25.000% $2,170,534 $0 26-457 California Municipal Finance Authority 245 Weddell 123 Sunnyvale Santa Clara $32,018,486 $0 $0 $32,018,486 111 204.620% 25.620% $5,832,651 $0 26-506 California Municipal Finance Authority 3135 San Pablo 73 Oakland Alameda $16,281,876 $0 $0 $16,281,876 111 191.494% 34.722% $2,827,727 $0 26-501 California Housing Finance Agency Parkview Apartments 98 Fresno Fresno $13,583,148 $0 $0 $13,583,148 111 163.473% 54.167% $2,336,652 $0 $228,514,459 $0 $0 $228,514,459 $37,229,481 $45,938,861 ROUND 3 ALLOCATION REMAINING
ELI/VLI $273,000,000 $4,161,379 2026 2025 2024 TOTAL FEDERAL CREDIT STATE CREDIT APPLICATION NUMBER CDLAC APPLICANT PROJECT NAME TOTAL UNITS CITY COUNTY BOND CAP CARRYFORWARD CARRYFORWARD ALLOCATION POINTS TIEBREAKER HOMELESS % REQUESTED REQUESTED 26-464 California Municipal Finance Authority 87 E Evelyn Phase I 161 Mountain View Santa Clara $36,077,751 $36,077,751 112 185.054% 0.000% $6,805,335 $11,280,802 26-424 California Municipal Finance Authority Capitola Manor 52 Capitola Santa Cruz $14,207,000 $14,207,000 112 144.074% 11.765% $2,525,367 $8,999,778 26-488 California Housing Finance Agency U.S.VETS - WLAVA Building 13 24 Los Angeles Los Angeles $14,000,000 $14,000,000 112 103.110% 100.000% $981,191 $0 26-411 California Municipal Finance Authority Cherry Crossing II 64 Sanger Fresno $8,998,238 $8,998,238 112 98.310% 0.000% $1,684,417 $6,352,178 26-413 California Municipal Finance Authority 500 Lake Park Apartments 53 Oakland Alameda $21,900,000 $21,900,000 112 97.957% 38.462% $2,426,001 $10,400,000 26-444 California Municipal Finance Authority Metrowalk at Richmond Station 150 Richmond Contra Costa $28,600,000 $28,600,000 111 270.038% 0.000% $5,399,928 $0 26-430 California Municipal Finance Authority Clover Apartments 348 Sacramento Sacramento $39,598,317 $39,598,317 111 269.619% 0.000% $6,467,33 8$ 0 26-410 California Municipal Finance Authority Rotary Gardens 80 South San Francisco San Mateo $20,562,128 $20,562,128 111 199.844% 6.329% $3,385,453 $0 26-493 California Housing Finance Agency Goodwin on Glacier 131 San Diego San Diego $0 $10,212,986 $13,702,201 $23,915,187 111 169.849% 0.000% $4,244,424 $0 26-466 Housing Authority of the City of Los Angeles Alveare Terrace 100 Los Angeles Los Angeles $25,929,022 $978 $25,930,000 111 156.997% 0.000% $4,857,930 $0 26-527 Housing Authority of the City of Los Angeles Jordan Downs Phase S6 100 Los Angeles Los Angeles $35,050,000 $35,050,000 111 133.579% 0.000% $5,098,489 $0 $244,922,456 $10,212,986 $13,703,179 $268,838,621 $43,875,873 $37,032,758 Updated 5/1/2026
EXHIBIT 1
CALIFORNIA DEBT LIMIT ALLOCATION COMMITTEE
Preliminary Staff Recommendations*
To be Considered on May 12, 2026
NEW CONSTRUCTION GEOGRAPHIC REGIONS
ROUND 3 ALLOCATION REMAINING
BAY AREA REGION $128,582,671 $23,339,085 2026 2025 2024 TOTAL FEDERAL CREDIT STATE CREDIT APPLICATION NUMBER CDLAC APPLICANT PROJECT NAME TOTAL UNITS CITY COUNTY BOND CAP CARRYFORWARD CARRYFORWARD ALLOCATION POINTS TIEBREAKER HOMELESS % REQUESTED REQUESTED 26-497 California Municipal Finance Authority Centerville Plaza Apartments - Phase II 150 Fremont Alameda $21,630,000 $0 $0 $21,630,000 112 204.665% 0.000% $3,406,081 $0 26-465 California Municipal Finance Authority Anton Solana Apartments 173 Live Oak Santa Cruz $30,015,901 $0 $0 $30,015,901 112 201.339% 0.000% $5,211,926 $8,003,805 26-515 California Municipal Finance Authority Block 5 Apartments 234 Cupertino Santa Clara $53,597,685 $0 $0 $53,597,685 111 191.006% 0.000% $9,287,656 $0 $105,243,586 $0 $0 $105,243,586 $17,905,663 $8,003,805
ROUND 3 ALLOCATION REMAINING
COASTAL REGION $128,582,671 ($437,860) 2026 2025 2024 TOTAL FEDERAL CREDIT STATE CREDIT APPLICATION NUMBER CDLAC APPLICANT PROJECT NAME TOTAL UNITS CITY COUNTY BOND CAP CARRYFORWARD CARRYFORWARD ALLOCATION POINTS TIEBREAKER HOMELESS % REQUESTED REQUESTED 26-505 California Housing Finance Agency 4350 Georgia Street 111 San Diego San Diego $0 $15,173,000 $0 $15,173,000 112 227.344% 0.000% $2,860,840 $0 26-448 California Municipal Finance Authority Lampson Workforce Housing 77 Los Alamitos Orange $10,800,000 $0 $0 $10,800,000 112 132.155% 10.526% $1,502,623 $3,010,000 26-454 California Municipal Finance Authority Promenade Apartments 95 San Diego San Diego $13,500,000 $0 $0 $13,500,000 112 120.425% 0.000% $2,552,564 $12,500,000 26-451 California Municipal Finance Authority Sendero Apartments 60 San Luis Obispo San Luis Obispo $9,400,000 $0 $0 $9,400,000 112 95.147% 0.000% $1,721,964 $9,934,000 26-434 California Municipal Finance Authority 1200 Main 190 Santa Ana Orange $18,192,172 $0 $0 $18,192,172 111 285.048% 0.000% $2,867,974 $0 26-475 California Municipal Finance Authority Seaward Affordable Apartments 70 San Ysidro San Diego $8,229,631 $0 $0 $8,229,631 111 282.633% 0.000% $1,114,542 $0 26-513 California Housing Finance Agency 339 15th Street 309 San Diego San Diego $0 $28,073,256 $0 $28,073,256 111 268.617% 0.000% $5,074,392 $0 26-524 California Housing Finance Agency 4th and Penn 75 San Diego San Diego $10,600,000 $0 $0 $10,600,000 111 165.858% 0.000% $1,813,763 $0 26-492 California Statewide Communities Development Authority Magnet Senior Phase II 22 Irvine Orange $3,552,471 $0 $0 $3,552,471 111 143.657% 0.000% $684,180 $0 26-453 California Municipal Finance Authority Mercury Senior Apartments 85 Brea Orange $11,500,000 $0 $0 $11,500,000 111 135.465% 0.000% $1,996,914 $0 $85,774,275 $43,246,256 $0 $129,020,531 $22,189,756 $25,444,000 ROUND 3 ALLOCATION REMAINING
CITY OF LOS ANGELES $104,090,734 $909,800 2026 2025 2024 TOTAL FEDERAL CREDIT STATE CREDIT
APPLICATION NUMBER CDLAC APPLICANT PROJECT NAME TOTAL UNITS CITY COUNTY BOND CAP CARRYFORWARD CARRYFORWARD ALLOCATION POINTS TIEBREAKER HOMELESS % REQUESTED REQUESTED 26-427 California Municipal Finance Authority Flats on Sunset 237 Los Angeles Los Angeles $29,219,439 $0 $0 $29,219,439 112 219.605% 0.000% $5,057,130 $4,384,953 26-447 California Public Finance Authority Cahuenga by Circle of Hope Housing Holly 70 Los Angeles Los Angeles $0 $8,370,987 $0 $8,370,987 112 159.388% 0.000% $1,408,678 $8,126,986 26-428 California Municipal Finance Authority Valleris on Ventura 96 Los Angeles Los Angeles $12,345,534 $0 $0 $12,345,534 112 134.416% 0.000% $2,144,628 $9,475,860 26-463 California Municipal Finance Authority 975 Manhattan 147 Los Angeles Los Angeles $14,728,320 $0 $0 $14,728,320 111 301.246% 0.000% $2,686,191 $0 26-476 California Municipal Finance Authority 8350 Reseda Blvd 206 Los Angeles Los Angeles $18,600,737 $0 $0 $18,600,737 111 279.393% 0.000% $3,517,230 $0 26-418 California Municipal Finance Authority Rye Senior Apartments 226 Los Angeles Los Angeles $19,915,917 $0 $0 $19,915,917 111 278.401% 0.000% $3,063,545 $0 $94,809,947 $8,370,987 $0 $103,180,934 $17,877,402 $21,987,799 ROUND 3 ALLOCATION REMAINING
BALANCE OF LA COUNTY $97,967,749 $42,996,762 2026 2025 2024 TOTAL FEDERAL CREDIT STATE CREDIT APPLICATION NUMBER CDLAC APPLICANT PROJECT NAME TOTAL UNITS CITY COUNTY BOND CAP CARRYFORWARD CARRYFORWARD ALLOCATION POINTS TIEBREAKER HOMELESS % REQUESTED REQUESTED 26-482 California Municipal Finance Authority 2K Colorado 144 Pasadena Los Angeles $15,150,000 $0 $0 $15,150,000 112 175.560% 0.000% $2,792,127 $11,050,000 26-487 California Housing Finance Agency Florence & Holmes 135 Los Angeles Los Angeles $2,251,463 $7,642,554 $0 $9,894,017 111 307.709% 0.000% $1,857,569 $0 26-433 California Municipal Finance Authority Golden Age Village - Walnut 103 Walnut Los Angeles $5,726,970 $0 $0 $5,726,970 111 305.169% 0.000% $916,518 $0 26-484 California Municipal Finance Authority Bana at Palmdale 48 Palmdale Los Angeles $6,000,000 $0 $0 $6,000,000 111 271.112% 0.000% $1,146,118 $0 26-425 California Municipal Finance Authority Maison's Sierra - Phase 2B 132 Lancaster Los Angeles $12,850,000 $0 $0 $12,850,000 111 242.277% 0.000% $2,383,813 $0 26-441 California Municipal Finance Authority 948 Palm 50 West Hollywood Los Angeles $5,350,000 $0 $0 $5,350,000 111 200.626% 0.000% $874,749 $0 $47,328,433 $7,642,554 $0 $54,970,987 $9,970,894 $11,050,000 ROUND 3 ALLOCATION REMAINING
INLAND REGION $97,967,749 $71,467,749 2026 2025 2024 TOTAL FEDERAL CREDIT STATE CREDIT APPLICATION NUMBER CDLAC APPLICANT PROJECT NAME TOTAL UNITS CITY COUNTY BOND CAP CARRYFORWARD CARRYFORWARD ALLOCATION POINTS TIEBREAKER HOMELESS % REQUESTED REQUESTED 26-446 California Municipal Finance Authority Caldwell Apartments 306 Visalia Tulare $26,500,000 $0 $0 $26,500,000 112 125.954% 0.000% $4,754,739 $5,560,000 $26,500,000 $0 $0 $26,500,000 $4,754,739 $5,560,000
ROUND 3 ALLOCATION REMAINING
NORTHERN REGION $55,106,859 $42,343,703 2026 2025 2024 TOTAL FEDERAL CREDIT STATE CREDIT APPLICATION NUMBER CDLAC APPLICANT PROJECT NAME TOTAL UNITS CITY COUNTY BOND CAP CARRYFORWARD CARRYFORWARD ALLOCATION POINTS TIEBREAKER HOMELESS % REQUESTED REQUESTED 26-419 California Municipal Finance Authority Canby Family Apartments 120 Redding Shasta $12,763,156 $0 $0 $12,763,156 112 89.219% 0.000% $2,192,366 $12,648,265 $12,763,156 $0 $0 $12,763,156 $2,192,366 $12,648,265
*The information persented here is preliminary and is made available for informational purposes only. The information is not binding on the Committee or its staff. It does not represent any final decision of the Committee and should not be relied upon as such.
Interested parties are cautioned that any action taken in reliance on this preliminary information is take at the parties' own risk as the information presented is subject to cahnge at any time until formally adopted by the Committee at a duly noticed meeting.
NOTE: Applications in italics have pending appeals and may not appear in the final recommendation list.
NOTE: CA-26-429 is allocated Farmworker State Credits and 26-490 is awarded Farmworker State Credits and Enhanced State Credits.
SUMMARY
Total Awards 78
Beginning Balance $1,553,798,433
Allocation $1,354,205,182
NC State Credit Available $195,265,536
NC State Credit Awards $194,630,944
NC State Credit Balance $634,592
4% State Credit Available $10,088,484
4% State Credit Awards $5,217,630
4% State Credit Balance $4,870,854
State Farmworker Credit Available $25,000,000
State Farmworker Credit Awards $25,000,000
State Farmworker Credit Balance $0
Updated 5/1/2026
EXHIBIT 1