California’s Qualified Residential Rental Project Program
California has a gap of more than one million homes affordable to lower-income residents. The Qualified Residential Rental Project Program helps spur affordable housing production by assisting developers of multifamily rental housing units with the acquisition and construction of new units, or the purchase and rehabilitation of existing units.
How does it work? CDLAC allocates state ceiling to bond issuers that will issue tax-exempt private activity bonds (PABs) to finance affordable housing developments. Projects that receive an award of bond authority have the right to apply for non-competitive 4% tax credits, administered by the California Tax Credit Allocation Committee. Prior to July 1, 2025, at least 50% of a project’s costs needed to be financed with PABs subject to the issuer’s volume cap in order to receive federal 4% LIHTCs. In July 2025, H.R. 1 was signed into law, which, among other things, permanently reduced the bond financing threshold from 50% to 25%. Practically speaking, this change allows California to finance nearly double the amount of affordable housing with federal 4% LIHTCs using the same amount of PABs.
Online Application Portal
Application Attachments and Instructions
Post-Award
Make a Payment
2025 CTCAC/HCD Opportunity Area Maps
Quick Links
Regulations
Directions for Finding Information for Distressed Community Criteria
Methodology for Determining Rural-Status Projects
Waiver of Rent per Square Foot Requirement
Market Study Guidelines
Make a Payment
Sign Up to Receive CDLAC Information
Contact Information
If you have any questions about the Qualified Residential Rental Program, please contact CDLAC.
