Novogradac Financing LIHTC Properties Using Private Activity Bonds Webinar (April 2019)
This course presents a basic overview of how development teams can use private activity bonds and 4 percent low-income housing tax credits (LIHTCs) to finance affordable multifamily rental housing properties.
Senior Director of Education
|Instructor Pending||Instructor Pending|
- Overview of affordable housing finance and need for debt and equity
- Overview of public (tax-exempt) vs. private (taxable) bonds
- Introduction to Internal Revenue Code Section 142(d) and private-activity tax-exempt bonds
- Nationwide bond volume cap utilization
- 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
- Bond financing timeline
- Preparation period, bond financing period, construction period, permanent period
- Sources and uses in the construction period vs. the permanent period
- The 50 percent test
- The 2 percent cost of issuance limitation
- Good costs/bad costs (95-5 test)
- The 25 percent land cost limitation
- Bond reviewing agency and enforcement agency
- Form 8703 – Annual certification of a residential rental project
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.
NOTE: Access to the webinar recording will be sent to the purchaser via email within one business day of payment.
This webinar pricing:
Multiple Registrations: $115/person ($95/person for nonprofits)
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