IRS Form 1099, 1099-NEC, and Form 1099-MISC: Advanced Issues and Updates

Sell, Hold or Resyndicate: What to do at the End of the Housing Tax Credit Project (OnDemand Webinar)

$149.00

SKU: 409643EAU

Description

Understand the steps you can or should be taking as the LIHTC project enters Year 15.This panel is intended for owners (forprofit and nonprofit) and property managers who are involved in LowIncome Housing Tax Credits (LIHTC) projects to understand the steps they can or should be taking as their LIHTC project enters Year 15. Year 15 is the end of the IRS 15year LIHTC compliance period and can be an opportunity for the LIHTC owners to restructure their project ownership and explore possible redevelopment and refinancing opportunities including a possible sale, refinance, investor exit, new LIHTC financing and homeownership conversion. The presentation will explain the typical ownership structure in LIHTC projects, what the options are for owners in year 15, what the LIHTC project documents usually provide as to Year 15, as well as discussion topics with the LIHTC equity investor for year 15. This panel will cover the Rights of First Refusals and Purchase Options, which are often negotiated in LIHTC projects, especially with nonprofit sponsors of LIHTC projects. Finally, the presentation will describe the considerations a LIHTC owner should review about their project as well as what notices and approvals may be required in connection with Year 15.

Date: 2023-11-17 Start Time: End Time:

Learning Objectives

LIHTC Ownership Through Year 15
• An Overview of the LIHTC Ownership Structure
• Different Viewpoints of Parties in Approaching Year 15
• Planning for Year 15 (Physical, Financial, and Legal Condition of the Property)

Major Contractual Considerations
• Identifying Existing Restrictions
• How to Discuss With Equity Investor
• Year 1 Contracts (Purchase Options and Rights of First Refusal)

Resyndication and Tax Considerations
• Qap and Political Considerations for the Project
• Financial Considerations for Resyndications
• Eligibility for Acquisition Tax Credits

Homeownership Opportunities
• Extended Use Restrictions Preventing Homeownership Uses
• Lease Purchase Under Section 42(G)(C)
• Real Estate Considerations for Homeownership

Questions and Answers

CLE (Please check the Detailed Credit Information page for states that have already been approved) ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

Jake Greenberg-Reno & Cavanaugh, PLLC, Stuart D. Poppel – Poppel Law LLC, Martin Walsh – Reno & Cavanaugh, PLLC

IRS Form 1099, 1099-NEC, and Form 1099-MISC: Advanced Issues and Updates

Sell, Hold or Resyndicate: What to do at the End of the Housing Tax Credit Project (OnDemand Webinar)

$219.00

SKU: 404997EAU

Description

Understand the tax credit options both when initially structuring a project and when evaluating what to do in year 15.Owners of tax credit projects are faced with numerous options at the end of the tax credit compliance period. They can sell the project subject to the use restrictions, attempt to have the use restrictions removed by offering the project for sale pursuant to qualified contract, continue to own the project or attempt to get new lowincome housing tax credits. These decisions can also impact lenders, investors and governmental entities involved with the project. An owner’s options may be limited by decisions made when the project is developed. Consequently, the parties involved in a lowincome housing tax credit project and their counsel need to understand the options both when initially structuring a project and when evaluating what to do in year 15. This information will cover the impact of recent tax law changes, including changes in depreciation, interest deductions, and unique opportunities for projects in Qualified Opportunity Zones. Failure to properly structure the project initially and failure to structure the deal at the end of the compliance period can have disatrous tax consequences. We will address the options, the potential tax consequences and how to evaluate what is the best option for a project.

Date: 2019-02-13 Start Time: End Time:

Learning Objectives

What Documents and Facts Do You Need to Do to Evaluate Options in Year 15?

What Are Some of the Tax Issues That Need to Be Considered?
• Capital Accounts and Exit Tax
• Debt Modification

Restructuring Options
• Sell Subject to Existing Restrictions
• Sell Pursuant to Qualified Contracts
• Purchase Property at Fair Market Value
• Purchase Property Subject to ROFR Under 42(i)(7)
• Put
• Acquire Limited Partnership Interest
• Resyndicate

Structuring the Transaction to Maximize Options
• Balancing Losses and Investor Return
• Impact of Tax Cuts and Jobs Act on Options
• Debt Structuring
• Elections Made in Tax Credit Application, Carryover, and 8609
• Terms of LURA
• Use of Qualified Opportunity Zone to Minimize Exit Tax Issues

No Credit Available

Angela M. Christy-Faegre Baker Daniels