California Tax Credit Allocation Committee AgendaPacket 2026-06-22
9% LIHTC reservation for Villa Garcia’s 1510 North First
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Description
CTCAC staff recommends reserving $1.7 million in annual 9% LIHTCs for the 1510 North First special needs project developed by Villa Garcia, Inc. The San Jose adaptive reuse will provide 57 deeply affordable units for residents at risk of homelessness under a 55‑year covenant.
Contract Details
Contract Amount
$1,696,412 annual federal LIHTCs
Vendor
VILLA GARCIA 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
2082-12-31
Renewal Info
Standard 55‑year LIHTC regulatory agreement; final award contingent on placed‑in‑service review and feasibility analysis.
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PENDINGIssuing Agency
California Tax Credit Allocation Committee
State Housing Authority
Sacramento, CA
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