California Tax Credit Allocation Committee AgendaPacket 2026-06-22
Tax credit resyndication approved for Village Park Seniors
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Description
CTCAC staff recommends allocating $546,219 in annual federal LIHTCs and $3.5 million in bond cap to Golden Empire Affordable Housing, Inc. for the Village Park Senior Apartments resyndication in Bakersfield. The 60‑unit senior property will be rehabilitated and kept affordable under a new 55‑year agreement.
Contract Details
Contract Amount
$546,219 annual federal LIHTCs; $3,500,000 tax-exempt bond allocation
Vendor
GOLDEN EMPIRE AFFORDABLE HOUSING INC
Agency
California Tax Credit Allocation Committee, CA
Contract Type
FINANCIAL_SERVICES
Document Date
June 22, 2026
Contract Term
55-year affordability/use restriction period
Renewal Date
2082-11-30
Renewal Info
Resyndication requires assignment and assumption of existing regulatory agreement CA‑2007‑095, continuation of service amenities, and maintaining prior rent and income targets over the new 55‑year term.
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AMENDEDHousing Authority of the County of Kern Agenda 2026-06-10
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APPROVEDHousing Authority of the County of Kern Board Agenda May 2026
AMENDEDHousing Authority of the County of Kern Minutes Regular Meeting 2026-05-13
AMENDEDIssuing Agency
California Tax Credit Allocation Committee
State Housing Authority
Sacramento, CA
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