Topics Covered

• Players in a bond transaction and their roles
  • Borrower, issuer, underwriter, purchasers, credit enhancer, lender, trustee, bond counsel
  • Fees/capital stack
• Major documents
  • Inducement resolution, loan agreement, regulatory agreement, tax certificate, mortgage or deed of trust, trust indenture, bond purchase agreement, official statement
• Direct bond issue structure vs. public bond offering structure
  • Difference in interest costs
• The 50 percent test
• Bond financing timeline
  • Preparation period, bond financing period, construction period, permanent period
  • Sources and uses in the construction period vs. the permanent period
• The 2 percent cost of issuance limitation
• The 95-5 test
• The 25 percent land cost limitation

Target Audience

This course is designed for those who have a basic understanding of affordable housing and low-income housing tax credits (LIHTCs) as well as for those who’ve worked in the industry for a few years and are looking for a refresher or who've worked with 9 percent LIHTC deals but not 4 percent LIHTC/bond deals.

Terms and Conditions
Receiving Login Info and Handouts
CPE Information

Registration Rates*

Standard: $130
Nonprofit: $110
Multiple Registrants: $115/person ($95/person for nonprofits)

*The registration fee for live online webinars and for webinar recordings covers a SINGLE VIEWER ONLY. If multiple persons within an organization wish to view the webinar and/or its recording (regardless of whether they view it on a single computer or multiple computers), the organization must purchase a registration for each person.