Webinar Replay - Selecting and Correcting the LIHTC Multiple Building Election

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Under the LIHTC program, each building is its own project unless the owner makes a proper election on Part II of the 8609 to group some or all of the buildings into one or more multiple building projects. Hear from the Internal Revenue Service about how to properly make a multiple building election, including the necessary attachments and the process to be followed if you want to change this election.
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  • Moderator:
    Maura Maloof, Suntrust Community Capital, LLC

    Speakers:
    Patricia Murphy, Texas Department of Housing & Community Affairs
    Grace Robertson, Internal Revenue Service

    Under the LIHTC program, each building is its own project unless the owner makes a proper election on Part II of the 8609 to group some or all of the buildings into one or more multiple building projects. This response can affect how the minimum set-aside is met, resident re-certification requirements, residents transfers and the income limits to use. Hear from the Internal Revenue Service about how to properly make a multiple building election, including the necessary attachments and the process to be followed if you want to change this election. In addition, both the IRS and a state housing finance agency representative will illustrate through examples how the election affects managing a monitoring a tax credit property.

    Learning Outcomes

    • How to properly make a multiple building election, including the necessary attachments
    • What to do if you want to change this election
    • How the election affects managing and monitoring a tax credit property