CPE: Developer-Syndicator Relationship Webinar

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Novogradac & Company LLP is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

Learning objectives: 

  • Identify how changes in corporate tax rates affect tax credit pricing
  • Identify elements that contribute to a limited partner capital account going negative
  • Recall several advantages of nonprofit participation in a LIHTC partnership
  • Identify how tax benefits, annual cash flow, and residual sale and refinance proceeds are most commonly allocated between the fund and the nonprofit and for-profit general partners
  • List reasons why limited partners may choose to utilize a special limited partner in their operating partnerships
  • Associate guarantees in the partnership agreement with the risks investors want to mitigate
  • Recall the benefits of sending federal grants through a nonprofit partner
  • Identify issues the IRS may take with a deferred developer fee
  • Identify the order in which obligations are most commonly paid within the cash flow waterfall when there is net cash available for distribution
  • Identify which factors syndicators value the most when evaluating LIHTC projects
  • Differentiate between “price per credit” and investor yield/internal rate of return as it relates to the time value of money
  • Identify the major benchmarks in which capital contributions are generally made and how the timing of capital contribution payments can help satisfy price-per-credit and return-on-investment targets for the developer and investors, respectively

Level: Intermediate

Prerequisites: A basic understanding of affordable housing and the Low-Income Housing Tax Credit program

Advance preparation required: None

Recommended Field of study: Specialized knowledge

Recommended Credit hours: 2.5

In accordance with the standards of the National Registry of CPE Sponsors, CPE credits for this course are based on a 50-minute hour group-Internet based instructional method and responses to three attendance monitoring activities (usually in the form of polling questions) per credit. Failure to participate in the entire live webinar will result in partial or no CPE credit.

Note: Multiple paid registrants within an organization may choose to watch the webinar on one screen. In situations where small groups view a webinar, for multiple members of the group to claim CPE credit it is not necessary for the individuals in the group to respond to polling questions individually. The person logged into the program may respond to the polling on behalf of the group and the monitoring of active participation of the individuals in the small group will be documented and verified by the small group administrator.

If you are watching the webinar in a group and wish to be eligible to claim CPE credit for multiple members of the group, please print and fill out the Small Group Sign-In Sheet (also provided during the webinar) and submit it to [email protected]

Policy for addressing concerns or issues with Continuing Professional Education delivered by Novogradac & Company 

Please address any questions or concerns regarding CPE at Novogradac & Company workshops, webinars or on-demand courses to the Events Desk at 415-356-7970 or [email protected].

Unresolved issues or concerns regarding registered CPE sponsors may be reported to the National Registry of CPE Sponsors and submitted online at www.nasbaregistry.org/cpas/complaints.

Note also that although recordings of most webinars are available for purchase, unless specifically stated, CPE is NOT available for webinar recordings.