Don’t Forget to Register for the June 16, 2022, Affordable Housing Seminar!
Don’t forget to register for McKonly & Asbury’s Affordable Housing Seminar taking place at the Sheraton Harrisburg Hershey on Thursday, June 16 from 9:30 am to 4 pm.
The seminar will cover an update from PHFA, partnership tax structuring, real estate taxes, Year 15 Issues, as well as cybersecurity in the affordable housing industry. A description of the day’s speakers and topics is below as well as information on CPE.
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Tax Structuring for LIHTC Partnerships and LLC’s
Judy Crosby, Esq. of Kutak Rock LLP
Discussion about tax structuring for low‐income housing tax credit partnerships/LLCs. Typical tax provisions and elections included in LIHTC partnership and operating agreements explained. Discussion to include 168(h) election, 168(g) election, and 163(j) election. Learn the difference between recourse, nonrecourse, and qualified nonrecourse debt and why the difference matters. We will also discuss the IRS form 8832 and when and why it is needed.
Year 15 Issues for LIHTC Partnerships
Penny Indictor, Esq. of Berman Indictor LLP
Discussion of various issues facing LIHTC developments at Year 15, including planning for and implementing investor exits and other resyndication topics. We’ll discuss drafting and interpreting exit provisions in equity documents including a nonprofit sponsor’s right of first refusal, an investor’s put option, and the general partner/managing member’s option to purchase either the property or the investor’s interest in the partnership/LLC. We’ll discuss drafting to accomplish the intended business deal between developers and investors without causing unintended adverse tax consequences.
Update from PHFA
Jessica Perry, Director of Multifamily Development, PHFA
Get an update on current LIHTC topics from PHFA. Discussion to include the new state PA low-income housing tax credit and PHFA’s role in administering it. There will also be discussion related to the qualified allocation plan and current Multi‐family tax credit application funding round.
LIHTC Real Estate Taxes
Bill Kerr, Esq. of High Swartz Attorneys at Law
Discussion on real estate tax issues facing affordable housing developers. Learn the ins and outs of how real estate taxes are calculated for affordable housing properties. Understand about tax abatements and tax exemptions and how they can work for your property.
Good Cyber Hygiene and How it Applies to Your Organization
Michael Hoffner, Managing Partner & David Hammarberg, Partner at McKonly & Asbury
We will dive into proper cyber hygiene within your organization. What you need to keep your data and employees safe as well as what you need in place now to meet the PHFA cybersecurity requirements. This presentation should have something for all levels in the organization, from the IT person to the executive director.
Additional Information
Date: Thursday, June 16, 2022
Time: 9:30 am to 4:00 pm (Registration begins at 9:30 and the seminar begins at 10:00)
Location: Sheraton Harrisburg Hershey Hotel, 4650 Lindle Road Harrisburg, Pennsylvania 17111
Fee (includes lunch): $85 per person, for 3 or more registrants the cost is $75 per person (the difference will be refunded after registration)
Continuing Education Credits: This event is eligible for 2.25 Tax CPE Credits and 3.5 Other CPE Credits. The level of the content is intermediate and a basic understanding of, and some understanding with the LIHTC program is the only prerequisite.
If you have any questions please contact events@macpas.com or call Hillary Daecher, Marketing Coordinator with McKonly & Asbury at 717‐972‐5786.