Home / Events / Conferences / 2008 / San Francisco

15th Annual San Francisco Affordable Housing Conference

September 10 - 11, 2008
San Francisco, Calif.
Fairmont San Francisco
Wednesday: 9:00 a.m.-5:00 p.m. • Thursday: 9:00 a.m.-12:00 p.m.

Early Bird Special! Register by August 7, 2008 and receive $50 off the registration price.
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Featured Keynote Speaker:

Bill Lockyer, California State Treasurer

 Bill Lockyer, California State Treasurer

Agenda

Wednesday, September 10, 2008

Day One
7:30 a.m. – 8:30 a.m. Registration and Networking Breakfast
8:30 a.m. – 9:20 a.m. Welcome and Attendee Introductions

GENERAL SESSIONS
9:30 a.m. – 10:20 a.m. Washington Wire
10:30 a.m. – 11:20 a.m. Equity Matters: Active Investors Speak Out
Hear from our panel of experienced and active investors how today's volatile equity market has changed their big picture perspective. Those in the thick of it speak out about how the subprime crisis and its ramifications on pricing, underwriting and due diligence have affected their appetites and what they now want to see on their plates.
11:30 a.m. – 12:20 p.m. Market Concerns: Syndicators Fight Back
The uncertainty within financial markets has more than just investors concerned. Listen in as our expereienced syndicator panelists fire back, outlining their positions for more stringent deal terms and their expectations for future deals. You won't want to miss the discussion on how the imbalance in supply and demand has affected the deals they’re making and their projections for the future of syndication.
12:30 p.m. – 2:15 p.m. Keynote Luncheon Speaker
Bill Lockyer, California State Treasurer

CONCURRENT SESSIONS ONE – Asset Management Track
2:30 p.m. – 3:20 p.m.

Offsite Improvements, Eligible Basis and the 50% Test
To build or not to build, that is the question when cities require that developers include infrastructure improvements in order to develop their LIHTC properties. Panelists at this session will address tax credit issues like eligible basis and the 50% test, which are associated with offsite improvements that can include access roads, water and sewer lines, parking structures and transit improvements. Attend this session to learn whether owners are responsible for maintenance of the offsite, if the offsite benefits the tenants directly, if the offsite is functionally related and subordinate to the property, and if the offsite is inextricably associated with the building.
3:30 p.m. – 4:20 p.m. Common Areas and Their Not-So-Common Problems
Have issues or questions about the common areas of your properties and whether their costs can be included in eligible basis? Need to sort out the difference between absolute priority and preference for tenants? How day-care programs and public access fit into the formula? Join our experts for a lively discussion on the many technical issues that must be considered when calculating eligible basis.
   
CONCURRENT SESSIONS TWO – Energy Track
2:30 p.m. – 3:20 p.m. Solar and the LIHTC
Green practices are the talk of the industry and with a little help from Washington are getting a little easier on a project’s bottom line. Attend this session to hear how developers are adding solar installations to their multifamily apartment portfolios using investment tax credits in combination with low-income housing tax credits (LIHTC). Learn how investors view the energy credits, what future legislation holds for these credits, what investors will pay for credits, and the issues that arise in combining energy tax credits and LIHTCs.
3:30 p.m. – 4:20 p.m. Green Fees: The Practicality of Sustainable Building
There are many shades of green and this session’s panelists will address the practicality of sustainable building. Listen as the experts describe how it can be done efficiently by determining early on which green practices are energy- and cost-efficient. Also learn how to make the numbers work for solar-powered affordable housing, how to avoid the pitfalls of over-designing for green performance, and how to identify funding sources and create partnerships with utility companies, all in the context of producing successful and truly green affordable housing.
 
GENERAL SESSION
4:30 p.m. – 5:20 p.m. Averting Disaster: Working Out Project Problems
Today's market makes developing a successful LIHTC project more challenging than ever before, and unfortunately some will feel the agony of failure at some level. The experts on this panel will provide a first-hand look at strategies that can be used to pull a property from near disaster and turn it around. This case study will describe the early warning signs, the steps taken to mitigate problems and the tactics used to reposition the property.
5:30 p.m. – 7:00 p.m. Networking Reception

 

Thursday, September 11, 2008

Day Two
7:30 a.m. Registration and Networking Breakfast

GENERAL SESSION
9:00 a.m. – 9:50 a.m.

Bond Projects and the Effect of Wall Street Problems
From Wall Street to Main Street, the turmoil in the markets translates to billions in lost bond financing. Banks have already lost more than $60 billion, and bondholders (such as pension funds) that have bought subprime mortgage bonds have seen a sharp fall in value of those instruments. Estimates of the total financial loss for these institutions run as high as $450 billion. Attend this session to hear what panelists have to say about what the industry can expect as the crisis continues and learn where LIHTC projects fit into the picture.
   
CONCURRENT SESSIONS ONE
10:00 a.m. – 10:50 a.m. Effect of HUD's Revisions on AMI: An Update
HUD's revised AMI and related income limit data were released in March 2007. More than a year later the industry is beginning to see the impact of these changes. Sit-in on this session for an analysis of the effect that the revised calculations had on housing tax credit properties. Learn if rents remained flat or increased and how LIHTC property operating budgets were affected by the revised data. All this and more can be learned as panelists explain how and when LIHTC properties can recover and expect to achieve reasonable rent increases.
11:00 a.m. – 11:50 p.m. State Agencies Contend with Market-Dictated Change
As the market responds to tighter underwriting standards and a diminished supply of low-income housing tax credit equity, state housing agencies are taking steps to adjust their policies accordingly. Attend this session to learn more about how housing finance agencies in California, Colorado, Massachusetts, Mississippi, New Jersey, New York and Tennessee have all made adjustments to their policies and procedures in response to the market shift and what the industry can expect as a result of these changes.
   
CONCURRENT SESSIONS TWO
10:00 a.m. – 10:50 a.m. State Tax Credit Updates – The Good, the Bad and the Ugly
There’s been a lot of talk in the media lately about state tax credits, from a proposed bill that would bifurcate tax credits in California to scaling back Rhode Island’s historic tax credits and shutting down Ohio’s historic preservation tax credit program. In a league of its own, Missouri’s auditor found that the state’s LIHTC program is costly and inefficient. You won’t want to miss this opportunity to catch up on the state of states and take in an update on the latest actions by these states and what their decisions could mean for investors, developers and other states and their tax credit programs.
11:00 a.m. – 11:50 a.m. Silver Lining: Non-Profit Opportunities in Today’s Housing Crisis
As hard as some owners might try to hold on to their property, some financial problems can’t be solved quickly enough to allow them to meet all of their financial obligations. The housing crisis has slammed the door on many property owners but some not-for-profit entities may be able to step in and acquire troubled, foreclosed or abandoned properties from banks and other lenders. Panelists will explain the legal process, and the tax risks and advantages involved in such activities, which can provide the not-for-profits with opportunities through loan assumptions, pre-foreclosure sales and deeds-in-lieu of foreclosure.
   
GENERAL SESSION
12:00 p.m. – 12:50 p.m. Debt Matters – Active Lenders Speak Up
If you’re seeking a detailed and in-depth look on how loans are being underwritten today and how lenders are making the tough deals work, look no further than this session. Panelists will get into the nitty-gritty of underwriting in today’s market and will explore various funding vehicles including new debt structures.          
12:50 p.m. Conference Concludes