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On September 30, 2008, California Governor Arnold Schwarzenegger signed into law Senate Bill 375 ("SB 375"), which, according to the Governor’s signing statement, "constitutes the most sweeping revision of land use policies since Governor Ronald Reagan signed the California Environmental Quality Act ("CEQA") nearly four decades ago"
On October 30, 2009, the Community Development Financial Institutions Fund ("CDFI Fund"), a branch of the U.S. Department of the treasury, announced that 99 community development entities ("CDEs") had been selected to receive allocations of new markets tax credits ("NMTC") through the 2009 allocation round ("Round Seven") of the NMTC program
