State of the Tax Credit Market
The economic downturn has been felt broadly across many industries and the federal and state tax credit industry is not an exception. On the state front we’ve seen the emergence of both good and bad news. Rhode Island and Maryland have scaled back their state tax credit programs; pending legislation in Missouri would sunset state credits in 2011; Ohio reinstated its historic tax credit program after receiving overwhelming interest that resulted in its shut-down; New York is considering legislation to raise the percentage and cap and Georgia has successfully done so. On the federal side, efforts are being made to extend the NMTC and certain energy credits and to enhance the low-income housing tax credit among many other things. Sit-in to catch up on the latest news and legislation and hear panelists share their thoughts on where the market is heading and the impact it is having and could continue to have on the tax credit industry.

Awards Luncheon

Military Conversions: Making the Most Out of Base Closures
The BRAC process brings both challenges and opportunities for military installations and communities. In four BRAC rounds more than 350 installations have been closed since 1989, leaving much land and opportunity up for grabs. Attend this case-study session to learn how preservation tax credits can be an incredibly powerful tool when converting former military bases to civilian communities. Listen as experts discuss the complex but ultimately rewarding steps that need to be taken and how to evaluate potential opportunities, and determine strategies for implementation, project execution and deal closure.

Tax and Legal Aspects of Tax Credits
Tax credits as a development tool should not be underestimated and understanding how to work them to your advantage is imperative. Gain new knowledge and further your understanding as experts discuss the opportunities related to using tax credits, the legal and tax challenges and how the careful selection of a legal structure is a critical component to the efficient use of state tax credits. Learn from the experts the various partnership and deal structures, including the single entity structure, as well as lease arrangements, the importance of financial projections, and profit motive, and find out what to consider in negotiating an exit strategy for the investor partner.

A Game of Hide and Seek—Where the Dollars Are
If locating equity for a small rehabilitation project seems like a lost cause, this is the panel for you. When the reality of historic rehabilitation tax credits appears to be interest in projects of only $4 million or more, there are ways to obtain that much needed infusion of equity — the trick is in knowing where to look. Attend this session and learn from veteran seekers how to attract the syndicators that will direct credits to an entity that has a sufficient tax liability and the importance of not overlooking investment banking firms that can provide direct equity investment.

Registration and Networking Breakfast

Seeing Double: State and Federal HTCs
“Twinning” state with federal rehabilitation tax credits can give projects previously dismissed as unfeasible a whole new look.  Hear how many states are providing greater incentives by allowing a developer to take as much as 45 percent of the cost of rehabilitation of a historic structure as a tax credit, thereby turning a so-called losing project into a very successful venture. Panelists will discuss state subsidies, the legal structuring, tax and pricing issues related to the inclusion of state credits, and how state credits impact sources of funds.

Formulating Success — How the HTC + the NMTC Add Up
Combining the historic tax credit with the new markets tax credit can be a very profitable and rewarding equation but is it worth the very real headaches and inevitable challenges caused by the differing rules, restrictions, financial requirements and other considerations? Hear what our experts think as they examine the rules, sum up their experiences, the good and the bad, and examine if in the end it all added up to success.

Learning by Example, A Case Study on Combining and Twinning Credits
You’ve just learned the why, now explore the how. The experts on this panel will guide you along the path of their successful projects. Hear how, from start to finish, a project was developed using state and federal HTCs and how from conception to close a project was developed by combining HTCs and the NMTC. Listen as panelists describe in detail the challenges they had to overcome, the decisions they made and the resulting consequences, why they took the route that they did and how they ultimately reached a profitable conclusion.