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Week of October 25, 2004
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Forum Provides Information on Disposition of Low Income Tax Credit Properties

A one-day conference held last month in Columbus, OH, in conjunction with NAHB’s fall board of directors meeting helped identify options for the first wave of multifamily properties built under the Low Income Housing Tax Credit (LIHTC) program that are approaching the end of their 15-year affordability requirement.

The issues forum — presented by NAHB’s Housing Credit Group and sponsored by Freddie Mac — was attended by multifamily builders, lenders, syndicators, accountants and other industry experts.

Katie Alitz, of Boston Capital, said that her company considers five ways of handling an LIHTC property disposition after the initial 15-year affordability mandate expires: through a sale (to unrelated third parties), transfer (to general partners), refinancing, resyndication and limited equity transfers.

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Beth Mullen, a partner with the accounting firm Reznick, Fedder & Silverman, provided information aimed at tax credit developers whose multifamily properties contain both market-rate and affordable housing. The transaction she described — a qualified contract — can be daunting, but she walked attendees through the complexities involved in the process, providing an example of how to price one of these contracts.

For more information from the forum presentations, click here.

Mark Your Calendar for NAHB's 2005 Pillars Conference

The 2005 Multifamily Pillars of the Industry Conference and Awards Gala is scheduled for April 4-6 at the Doral Golf Resort & Spa in Miami. For more information, click here.

The NAHB University of Housing Offers HCCP Designation

The NAHB University of Housing offers the Housing Credit Certified Professional (HCCP) designation, a specialized designation for developers, property managers, asset managers and others working in the affordable housing industry. Click here for more information.

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