Tax Credit Applications (LIHTC)

The FederalLow-Income Housing Tax Credit (LIHTC) program remains the stalwart, steadyresource for affordable housing development across the country, and while thereare other financing sources and mechanisms, no serious affordable housingprogram operates without LIHTCs. Using this program, NDC, through the NDCCorporate Equity Fund, has invested nearly $350 million in more than 6,000units located in 25 states and the Commonwealth of Puerto Rico.
In addition, through our technical assistance services, NDC has helped ourclients across the country finance and develop thousands more LIHTC units. This session provides a brief description of the LIHTC program andexplains how it works. Participants learn the threshold criteria for using thecredits and how to calculate credits for a project using real-world cases. The session also covers recent changes to the LIHTC legislation.

Join this session by expert speaker Paul Flogstad, where he will give a basic understanding of the entire application process and will have the confidence to apply to use this popular program to enhance your affordable housing project.

Session Highlights:

Understanding your development team
Project characteristics
Unit distribution and rents
Project expenses
Acquisition and Rehabilitation
Project financing
Subsidies
Determination of Tax Credit Amount
Determination of Qualified basis on building
Housing Tax Credit Syndication
Project Timetable
Qualified Allocation Plan (QAP)
Applicant Certification

Why You Should Attend:

This topic is little complicated, we will walk through all of the requirements that state housing agencies use to decide which application qualifies to be funded. There are many tips that will be presented that to enhance your application. We will cover the basics of the tax credit program then get into more detail about the application process.

Who Should Attend:

Property Managers
Property owners
Leasing Consultants
Housing Authority Staff
Tax credit compliance staff
Developers Attorney’s
Accountants
Builders

*You may ask your Question directly to our expert during the Q&A session.

** You can buy On-Demand and view it as per your convenience.

Paul Flogstad

Paul has been involved in the real estate industry for the past 38 years. After college graduation he was in law enforcement for 4 years. From that point on, he has been involved in sales, construction, project management, appraisal, mortgage consulting and brokerage, property management and property management consulting/training.

Most recently, he was a consultant for affordable, multi-housing properties in 22 different states. This involved properties in HUD, Rural Development and Tax Credit programs. In this role he supported managers by training, compliance, budgeting, developing policy and procedures as well as creating successful marketing strategies. Previously was a regional manager for a large property management company in South Dakota.

For over twenty years was involved in appraisal of residential, multi-family, farm and commercial properties throughout the Midwest.

He holds numerous professional property management designations and currently holds the prestigious RHM designation from the National Center for Housing Management.

In 2007 he formed Property Management Solutions. In this capacity, he provides training and consulting services nationwide to owners, management companies, multi-housing associations, as well as state and federal agencies.

Paul was previously Vice President of the South Dakota Multi-Housing Association, Vice Chairman of the Minnehaha County Housing and Redevelopment Commission, and Chairman of the Sioux Falls Property Appeals Board. In 2009, he received the Outstanding Educator of the Year award from the South Dakota Multi-Housing Association.

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