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August 27, 2014: California Tax Credit Allocation Committee (TCAC) Issues Guidance for Use of California Utility Allowance Calculator on Existing LIHTC Properties

On August 27, 2014, TCAC issued revised guidance to allow existing LIHTC properties with photovoltaic (PV) system installation through the California Solar Initiative MASH Program to calculate tenant utility allowances based on the California Utility Allowance Calculator (CUAC), an energy consumption model for tenant-metered properties. Prior to this guidance, the CUAC model was only available for new construction and adaptive reuse housing projects. Use of the CUAC model will enable many owners to reduce utility allowances and increase operating income, which could be used to offset some energy-efficiency improvement costs or to stabilize project operations... READ MORE

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