Novogradac LIHTC Property Compliance Workshop - Atlanta Office

Thursday, October 27, 2016 - 9:00am to Friday, October 28, 2016 - 3:00pm

Location

Novogradac & Company LLP Office
2325 Lakeview Parkway
Suite 450
Alpharetta, GA 30009
United States


Description

The Novogradac LIHTC Property Compliance Workshop is a 10-hour, two-day course, led by knowledgeable instructors, to provide attendees with the most up-to-date low-income housing tax credit (LIHTC) compliance knowledge and industry trends critical to owners and property managers. At the conclusion of the workshop, attendees have the opportunity to pass an exam to obtain the Novogradac Property Compliance Certification (NPCC), an accreditation for members of the LIHTC community.

Instructor

webinars headshot panelist jillian toole

 

Jillian Toole, NPCC, HCCP, NCP
LIHTC Compliance Specialist
Novogradac & Company LLP

Praise from Past Attendees

Schedule:

Day 1

8 – 9 a.m. Registration (breakfast provided)
9 – Noon Instruction*
Noon – 1 p.m. Lunch provided
1 p.m. – 5 p.m. Instruction*

Day 2

8 – 8:30 a.m. Registration (breakfast provided)
8:30 – 11:30 a.m. Instruction*
11:30 a.m. – 12:30 p.m. Lunch provided
12:30 – 3 p.m. Novogradac Property Compliance Certification (NPCC) Exam (inculded in registration price)

OR  

12:30 – 3:00 p.m. HCCP Exam proctored by Novogradac ($175 additional fee for taking HCCP Exam; those who elect to take the HCCP exam may take the the NPCC Exam online within a 10-business-day window beginning the first business day after the live workshop)

* A 10-minute break will be taken approximately every 50 minutes during instruction

Materials:

Upon arrival to the in-person workshop, attendees receive a 150-plus-page booklet of the slide deck we use to present the concepts of the workshop. We also provide calculators and pencils for the exams.

Novogradac Property Compliance Certification (NPCC) Exam:

The Novogradac Property Compliance Certification (NPCC) Exam is included with registration for all Novogradac LIHTC Property Compliance Workshops. It is an open-book exam with a 2.5-hour time limit. A passing score is 48 out of 60 (80 percent). Effective October 2016, attendees may choose to take the NPCC Exam online within a 10-business-day window beginning the first business day after the workshop concludes in lieu of taking the NPCC Exam in-person at the end of Day 2. Candidates should allow up to 10 business days for their exam results when taking the in-person exam after the in-person workshop. Results of the online NPCC Exam may be retrieved immediately.

HCCP Exam:

For an additional $175, attendees of the in-person workshop may take the National Association of Home Builders' Housing Credit Certified Professional (HCCP) exam in lieu of taking the NPCC exam (make election at Step 2 of the registration process):

The deadline to register for the HCCP exam is October 13

If you are considering taking the HCCP Exam in conjunction with our in-person workshop, we strongly encourage you to review the HCCP Candidate Information Guide, which includes some topics not addressed in the Novogradac LIHTC Property Compliance Workshop. Those include tax-exempt bond deals, changes in project ownership, due diligence submission, compliance documentation for syndicators, Fair Housing laws, the Americans with Disabilities Act, housing quality standards and uniform physical standards. You may also wish to review sample HCCP Exam questions provided by NAHB. The HCCP Exam is a closed-book exam with a 2.5-hour time limit. A passing score is 48 out of 75 (64 percent). Candidates should allow up to six weeks for their exam results.

Topics Covered in Workshop:

  • LIHTC Property Compliance Overview
    • IRS, state agency, HUD, investors, developers, property managers
    • Calculating credits – eligible basis, DDAs and QCTs, applicable fraction, credit percentages
    • Tenant certification process – household size, verification forms, TIC effective date, initial certification vs. annual recertifications
  • Related Rules
    • Compliance period vs. credit period vs. extended use period
    • Minimum set-aside
    • Full-time students
    • Available unit rule
    • Unit vacancy rule
  • Household Income
    • Inclusions and exclusions
    • Examples – employment income with anticipated raise, seasonal/sporadic work, child support (sporadic), regular cash contributions, self-employment
  • Assets and Income from Assets
    • Asset inclusions and exclusions
    • The $5,000 cliff test
    • Examples – checking and savings accounts, retirement accounts, revocable trusts, assets disposed of for less than fair market value
  • Rent
    • Maximum rent limit – LIHTC rent limit calculation
    • Deeper rent targeting
    • Gross rent for unit – tenant paid rent, utility allowance, other non-optional charges
    • Rent assistance
  • Initial Lease-Up and First-Year Credits
    • Initial qualification of units, first-year applicable fraction vs. 12/31 applicable fraction, deferring Year 1 of the credit period
    • Form 8609 Line 8b multiple building election
  • State Inspections and Avoiding Recapture
    • Calculating recapture
    • State agency compliance inspections and the 8823 process
    • Correcting noncompliance

Terms & Conditions

Registration Rates

Standard: $595
Nonprofit: $545
Multiple Registrations (3 or more persons): $500/person ($450/person for nonprofits)

Add $175 if registering for the HCCP Exam instead of the NPCC Exam