CONSTRUCTIONAWARDED

California Tax Credit Allocation Committee Awards Construction Contract to Kingdom Development Inc (December 2024)

Kingdom Development, Inc. secured more than $14M in tax credits and $38M in bond cap to develop Palm Villas at Millennium, with construction slated through August 2027.

Status
AWARDED
Document date
December 11, 2024
Contract type
CONSTRUCTION
Vendor
Kingdom Development Inc
Agency
California Tax Credit Allocation Committee · CA

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WithersRavenel logo
Derivita logo
Comcate logo
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Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
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Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
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Scope & details

The full contract record, as filed.

Contract amount
$3,674,843 annual federal credits; $10,397,147 state credits; $38,133,692 bond cap; Project Cost $76,886,635
Contract type
CONSTRUCTION
Contract term
June 2025 – August 2027 construction, 55-year affordability period
Renewal date
2082-08-31
Renewal
Reservation conditioned on final costs and compliance with regulatory/affordability requirements.
Document type
StaffReport
Source document
CALIFORNIA DEBT LIMIT ALLOCATION COMMITTEE Staff Report December 2024

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the construction contract by California Tax Credit Allocation Committee?

Kingdom Development Inc was awarded this construction contract by California Tax Credit Allocation Committee, as recorded on December 11, 2024. The contract value is $3,674,843 annual federal credits; $10,397,147 state credits; $38,133,692 bond cap; Project Cost $76,886,635.

How much is the Kingdom Development Inc contract with California Tax Credit Allocation Committee worth?

The Kingdom Development Inc contract with California Tax Credit Allocation Committee is valued at $3,674,843 annual federal credits; $10,397,147 state credits; $38,133,692 bond cap; Project Cost $76,886,635, covering construction work.

What type of contract is this?

This is a Construction contract, documented as a staffreport record.

Where was this contract approved?

This contract appears in CALIFORNIA DEBT LIMIT ALLOCATION COMMITTEE Staff Report December 2024 (StaffReport), dated December 11, 2024 from California Tax Credit Allocation Committee. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Kingdom Development Inc hold?

Kingdom Development Inc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Kingdom Development Inc's profile

What is California Tax Credit Allocation Committee currently buying?

Explore California Tax Credit Allocation Committee's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

View California Tax Credit Allocation Committee's profile

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