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.