New multifamily construction projects that use LIHTC equity come with a host of risks to the developer, from potential non-compliance to credit shortfall due to poor lease-up of the low-income units.
During the development phase, projects follow a fairly predictable timeline, with project milestones and investor expectations typically known well in advance of closing. The key to success for all participants is adherence to established written and oral communication routines between the GP/developer and property management. Topics in this webinar include the importance of lease-up preleasing and marketing, project place-in-service with certificate of occupancy, owner’s 8609 elections and investor tax credit projection in the first year of the credit period.
The webinar will include several examples of how non-compliance and initial lease-up that falls short of expectations can adversely impact the developer and the partnership.
Participants in this webinar will able to:
- Recognize key milestones for LIHTC projects in the development phase.
- Identify the types of risks that can impact the GP/developer and steps that can be taken to mitigate such risks.
- Explain the types of questions successful project stakeholders ask and information they exchange for LIHTC projects in development phase.
- Describe some tips on communication improvements that can be put into place right away.
- Marie Peace, HCCP, C6P, NCP, Director of Compliance, The Franklin Johnston Group
- Matt Rayburn, Deputy Executive Director & Chief Real Estate Development Officer, Indiana Housing and Community Development Authority
NAHB Continuing Education: 1.0 hours of continuing education credit for the HCCP designation and for the following 12 designations: CAPS, CGA, CGB, CGP, CGR, CMP, CSP, GMB, GMR, Master CGP, Master CSP, MIRM.
Cancellation and Refund Policy: No refunds are issued for webinar replays upon purchase. However, NAHB regularly reviews these products and reserves the right to remove replays that are no longer current. If you are unable to view a replay during your 12-month access period, please contact Sheila Coble.