NCHFA, VHDA Issue Policies Regarding Contracts for Year 15 LIHTC Properites
The North Carolina Housing Finance Agency (NCHFA) and Virginia Housing Development Authority (VHDA) have issued policies regarding qualified contracts for Year 15 low-income housing tax credit (LIHTC) properties. The rules cover administration of requests and include an application form. Future guidance is expected to cover calculation of the qualified contract price. Click here for NCHFA's policy.
To discuss qualified contracts and other Year 15 issues, join Novogradac & Company LLP in Miami January 5-7 for the 11th Annual Tax Credit Developers Conference where a set of three panels will be offered on Year 15: Exit Strategies for the Owner/Developer, Strategies for the Housing Agency, and Taking Action – a case study. Don't miss this chance to hear practical guidance on partnership agreement language regarding rights of first refusal, buyout options, qualified contracts, negative capital accounts, exit taxes and bargain sales.