State of California Tax Credit Allocation Committee (TCAC)

Benningfield Group performs quality control reviews for California Utility Allowance Calculator (CUAC) submissions to ensure compliance with 2008 or newer, as applicable, Title 24 energy efficiency standards and sustainable building methods, as identified in California Tax Credit Allocation Committee (TCAC) program rules and regulations, for affordable multifamily developments that are awarded federal and state low income housing tax credits in California. Standard utility allowances are generally based on older housing stock and do not reflect energy efficiency gains realized in newer and rehabbed construction. Creation of a customized allowance to recognize energy efficiency design results in a more realistic allowance for utilities. This can provide property owners with increased cash flow and can ease debt coverage concerns.