Tax Credit Property Dispositions in 2008:
Obligations and Opportunities Through Year 15 and Beyond
November 20 - 21, 2008
Sheraton Boston Hotel
Boston, MA
Conference Overview
In 1986, the Low-Income Housing Tax Credit (LIHTC) program was born through the
federal Tax Reform Act as a way to provide an alternative financing method for low-incoming
housing and to encourage the investment of private capital in the development of
affordable rental properties. To receive LIHTC benefits, owners of qualifying rental
properties had to comply with low-income occupancy requirements for a minimum of
15 years. In 1989, the LIHTC program changed its compliance requirements to a minimum
of 30 years for any property receiving tax credit allocation in that year or thereafter.
In July 2008, Congress passed the most sweeping and comprehensive changes to the
LIHTC program in almost 20 years.
While on the surface these requirements might seem straightforward, the complex
challenges that are inherent to low-income housing properties require a comprehensive
understanding of applicable business, legal and accounting issues.
This conference will examine the obstacles and opportunities associated with the
LIHTC compliance requirements and outline solutions to the most serious problems
facing owners of tax credit properties. Relevant topics will include Year 15, structuring
qualified contracts, options and rights of first refusal, portfolio assessment,
assessing the property disposition at Year 15 and before, and assessing the general
partner transfers during the compliance period.
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