CDLACCalifornia Debt Limit Allocation Committee
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Typically, CDLAC, the State's bond allocation committee, will cap its allocations at $30 million per development.
Developers (Playa Capital LLC) of Playa Vista, one of the most ambitious, high-density real estate developments in the country, effectively lobbied the City of Los Angeles and State Legislators for millions of dollars of Mello-Roos and CDLAC tax free bonds to build on top of one of the largest oilfield gas seeps in the world.
Since CDLAC launched the program in September 2000, it has awarded more than $262 million in tax-exempt, low-cost bond financing to the Extra Credit Teacher Program offered through the California Housing Finance Agency (CalHFA) and nine local jurisdictions.