Friends and Colleagues,
Many of us with an interest in the California Low Income Housing Tax Credit Program (LIHTC) are concerned that the program is not working as well as it should. Key elements, particularly cost efficiency and the overall use of public resources in the program, are trending in the wrong direction – and they are not being addressed in the program regulations. This comes at a time when the program is under greater scrutiny than ever at all levels. While the details of change will require some hard work, the basic areas where change is needed are clear.
We strongly urge you to look at the two attached letters that outline areas for change, and do the following:
First, confirm with an e-mail that you and your organization are willing to be added as a supporter to the attached Sign On Letter,
Second, use the Individual Support Letter on your organization letterhead to express your support directly to the three voting members of the Tax Credit Allocation Committee.
As the TCAC public hearing process will soon be coming to a close, We ask that you take both these steps no later that December 10, 2010.
Thanks for considering our request and we look forward to working with each of you to secure these essential improvements in the LIHTC program.