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(b) Release of Performance Deposit.

CDLAC Regulations — Qualified Residential Rental Project Program (tax-exempt bond allocation) · 2026 edition · updated 2026-07-29 · California

(1) The written authorization releasing a performance deposit or refund of deposits paid to the Committee will occur upon the Committee's receipt of a properly completed Report of Action Taken that is appropriate to the transaction type as required in section 5012, all filing fees as required in these regulations and a digital copy of the conformed, recorded Bond Regulatory Agreement. The Committee Resolution shall provide the timeframe for using the Allocation and filing the required Report of Action Taken.

(2) In the case of a Qualified Residential Rental Project that also requests an allocation of state credit reserved for tax-exempt projects from the California Tax Credit Allocation Committee (CTCAC), the full release or refund of a performance deposit will be authorized if the Project Sponsor is able to demonstrate that the failure to use Allocation is solely due to the failure to receive an allocation of state tax credit.

(3) In the case of Mortgage Credit Certificates, the full release or refund of a deposit will not be authorized unless the Allocation has been converted to Mortgage Credit Certificate authority by the date specified in the Committee Resolution.

(c) Forfeiture of Performance Deposit. If less than 80% of the Allocation is used to issue Bonds, a pro-rata portion of the deposit will be forfeited equal to the same percentage ratio as the amount of unused Allocation bears to the amount of awarded Allocation. If at least one (1) Mortgage Credit Certificate is not issued prior to the applicable expiration date, the entire performance deposit will be forfeited. If 80% or more of the Allocation is used to issue bonds prior to the expiration date, or at least one (1) Mortgage Credit Certificate is issued prior to the applicable expiration date, a full refund of the performance deposit will be authorized.

(1) Applicants bear the risk of forfeiting all or part of their performance deposit if the Allocation is not used in accordance with the conditions and/or timeframes set forth in the Committee Resolution.

(2) The Applicant shall remit all forfeited performance deposits to the Committee within thirty (30) days of receipt of an invoice issued by the Committee.

(d) Withdrawn or denied application. For Applicants that post the performance deposit prior to award of an Allocation, if the Applicant withdraws an Application prior to consideration by the Committee or if a Project fails to receive an award of Allocation, the performance deposit shall be automatically refunded or released and no written

authorization from the Committee shall be necessary. Applicants that receive an Allocation may also return the Allocation to the Committee within twenty (20) days of the award date without threat of negative points.

(e) Nothing in this section shall be construed to address the forfeiture of deposit relative to utilization of carryforward Allocations pursuant to section 5011.

NOTE: Authority cited: Section 8869.94, Government Code. Reference: Sections 8869.84(c) and 8869.84(e), Government Code.

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▸ Contents — CDLAC Regulations — Qualified Residential Rental Project Program (tax-exempt bond allocation)
CDLAC Regulations — Qualified Residential Rental Project Program (tax-exempt bond allocation)
  1. Table of Contents
  2. 4 CCR Sections 5000 et seq.
  3. § 5000. Definitions.
  4. § 5002. Eligible Applicants.
  5. § 5004. Application Ranking and Award Recommendations.
  6. § 5005. Application Deficiencies and Appeals
  7. (c) Appeals Process.
  8. § 5006. Performance Deposit Requirements.
  9. (b) Release of Performance Deposit.
  10. § 5007. Minimum Bond Sale Structure Requirements.
  11. § 5008. Private Placement Sales.
  12. § 5009. Limited Offering and Public Offering Bond Sales.
  13. § 5010. Committee Resolutions; Use of State Ceiling Allocation…
  14. § 5011. Carryforward Allocations.
  15. § 5012. Notification of Bond Issue and Report of Action Taken.
  16. § 5014. Certification of Compliance.
  17. § 5015. Disqualification.
  18. Chapter 2. Qualified Residential Rental Projects
  19. § 5100. Definitions.
  20. § 5102. QRRP Application Procedures and Requirements.
  21. (m) Negative Points (no maximum).
  22. § 5106. Ranking.
  23. (c) Applications for BIPOC Projects.
  24. (B) The project’s rent savings benefit, which is as follows:
  25. § 5107. QRRP Program Requirements.
  26. (d) Minimum restriction term.
  27. (e) Debt Service Coverage Ratio.
  28. § 5108. Bond Allocation Limits and Issuance Deadline Extensions
  29. § 5109. Supplemental Allocation Process.
  30. § 5110. Open Application Process for Projects assisted by HUD.
  31. § 5111. Expiring Projects in Difficult Development Areas or Qu…
  32. § 5112. Post-Issuance Compliance.
  33. Chapter 3. Single Family Housing
  34. § 5260. Definitions.
  35. Article 2. Eligibility Requirements
  36. § 5265. Application Process.
  37. § 5266. Participation Goals.
  38. § 5267. Consistency with Adopted Housing Elements.
  39. § 5268. Mortgage Revenue Bond Eligibility.
  40. § 5269. Mortgage Credit Certificate Eligibility.
  41. § 5270. Exceptions to Minimum Requirements.
  42. § 5271. Allocation Method.
  43. § 5273. Income and Purchase Price Certification.
  44. Article 3. Evaluation Criteria
  45. § 5275. Minimum Goals.
  46. § 5280. Eligibility Requirements.
  47. § 5281. Evaluation Criteria.
  48. § 5282. Allocation Method.
  49. § 5283. Excess Bonus Pool Distribution.
  50. Chapter 4. Extra Credit Teacher Home Purchase Program
  51. Article 2. Eligibility Requirements
  52. § 5310. Application Process.
  53. § 5311. Application of Standards.
  54. § 5312. Applicant Eligibility.
  55. § 5313. Program Goals.
  56. § 5314. Program Provisions.
  57. (f) A priority system such that:
  58. § 5315. Alternative Schools. [Repealed]
  59. Article 3. Evaluation Criteria
  60. § 5320. Evaluation Criteria
  61. § 5321. Allocation Amount
  62. Article 4. Reporting Requirements
  63. § 5330. Specific Reports
  64. Article 5. Noncompliance
  65. § 5340. Monetary Assessment
  66. Chapter 5. Single Family Housing Home Improvement and Rehabili…
  67. Article 1. Definitions
  68. § 5342. Definitions.
  69. Article 2. Eligibility Requirements
  70. § 5343. Application Process.
  71. § 5344. Minimum Requirements.
  72. § 5345. Exceptions to Minimum Requirements.
  73. Article 3. Evaluation Criteria
  74. § 5346. Past Performance.
  75. § 5347. Potential Public Benefits Calculation.
  76. Chapter 6. Small-Issue Industrial Development Bond Program
  77. § 5350. Definitions.
  78. Article 2. Applications
  79. § 5360. Application Process.
  80. § 5361. Allocations to CIDFAC. [Repealed]
  81. § 5362. Transfer of Allocation by CIDFAC. [Repealed]
  82. § 5363. Reporting Requirements. [Repealed]
  83. Article 3. Evaluation Criteria
  84. § 5369. Minimum Requirements.
  85. § 5370. Evaluation Criteria.
  86. § 5371. Enterprise/Empowerment Zone Facility Bond Projects.
  87. § 5372. Permits. [Repealed]
  88. § 5380. Allocations to CIDFAC. [Repealed]
  89. § 5381. Minimum Requirements. [Repealed]
  90. § 5382. Evaluation Criteria. [Repealed]
  91. § 5384. Reporting Requirements. [Repealed]
  92. Chapter 7. Exempt Facility Bond Program
  93. Article 1. Definitions
  94. § 5400. Definitions.
  95. Article 2. Applications
  96. § 5410. Application Process.
  97. § 5411. Allocations to CPCFA.
  98. Article 3. Eligibility Requirements
  99. § 5420. Justification of Tax-Exempt Funds.
  100. § 5421. CEQA Requirements.
  101. § 5422. Permits.
  102. § 5423. Review of New Technologies.
  103. Article 4. Evaluation Criteria
  104. § 5430. Environmental Goals.
  105. § 5431. Disposal of Solid Waste.
  106. § 5432. Non-Solid Waste Projects.
  107. § 5433. Use of Taxable Debt.
  108. § 5434. Local Support.
  109. § 5435. Conversion of Taxable Debt.
  110. § 5440. Ranking.
  111. Chapter 8. Student Loan Programs
  112. § 5450. Definitions.
  113. Article 2. Eligibility Requirements
  114. § 5460. Application Process.
  115. § 5461. Minimum Requirements.
  116. Article 3. Evaluation Criteria
  117. § 5470. Evaluation and Ranking.
  118. Chapter 9. Recovery Zone Economic Development Bond (RZEDB) Pro…
  119. § 5480. U.S. Treasury Designated Recovery Zone Bond Allocation…
  120. § 5490. Application Process. [Repealed]
  121. § 5492. Minimum Application Requirements. [Repealed]
  122. § 5494. Undersubscribed Allocation. [Repealed]
  123. § 5500. Evaluation Criteria. [Repealed]
  124. § 5510. Reports and Timeframes. [Repealed]
  125. Chapter 10. Recovery Zone Facility Bond (RZFB) Program [Repeal…
  126. § 5532. Minimum Application Requirements. [Repealed]
  127. § 5533. Reallocation Priority System. [Repealed]
  128. § 5540. Evaluation Criteria. [Repealed]
  129. § 5550. Reports and Timeframes. [Repealed]
  130. Chapter 11. Qualified Energy Conservation Bond Program [Repeal…
  131. § 5560. Definitions. [Repealed]
  132. § 5570. Application Process. [Repealed]
  133. § 5571. Minimum Requirements. [Repealed]
  134. § 5572. Reallocation of Waived Allocation. [Repealed]
  135. § 5580. Evaluation Criteria. [Repealed]
  136. Article 2. Evaluation Criteria
  137. § 5620. Scoring Criteria.
  138. § 5630. Allocation Distribution.
  139. Article 3. Reporting Requirements
  140. § 5640. Specific Reports.
  141. Chapter 13. Qualified Public Educational Facility Bond (QPEFB)…
  142. § 5700. Definitions. [Repealed]
  143. Article 2. Applications [Repealed]
  144. § 5710. Application Process. [Repealed]
  145. § 5711. Allocations. [Repealed]
  146. § 5720. Project Readiness. [Repealed]
  147. § 5721. Permits. [Repealed]
  148. Article 4. Reporting and Regulatory Requirements [Repealed]
  149. § 5730. Specific Reports. [Repealed]
  150. § 5731. Regulatory Compliance. [Repealed]

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