LIHTC Update: Understanding the Ins and Outs of Tax Credit Properties (AHAN74C)

  • Product Format
  • Pre Recorded Webinar
  • Presenter(s)
  • Paul Flogstad
  • Conference Date
     
  • Thursday, March 8, 2018
     
  • Aired Time
  • 12:00 am ET - 11:00 pm CT - 10:00 pm MT - 9:00 pm PT
  • Length
  • 60 minutes

Key Concepts and Guidance for Successfully Managing an LIHTC Property

The Low-Income Housing Tax Credit (LIHTC) program is subject to a number of rent and income restrictions, in particular, the 15-year period of compliance with IRS use restrictions. For property owners and managers, a number of questions arise regarding compliance with program requirements, including: What are the compliance mechanics for a layered property? What happens after year 15?

Join this session with expert speaker Paul Flogstad who will provide you in-depth knowledge of LIHTC to advance your capabilities beyond what you already know. Paul will provide an analysis of the key concepts of LIHTC program so that you end up with a deeper understanding of the program. Paul will help you successfully navigate through the regulations and guidance, key documents, blended scenarios, and noncompliance issues. During the session, Paul will discuss the history, current strategies and the guidance that IRS provides to stay in compliance with the program requirements. You will get answers to the “what ifs” if you have a layered property and its blended compliance mechanics. At the end of this session, you will be able to plan for the successful management of any LIHTC property.

Session Highlights

  • Deciphering LIHTC
  • Distinguishing between sources of guidance
  • Analyzing IRS Forms 8609, 8823 and the multiple building election
  • Going through blended LIHTC management
  • Acquisition/rehabs using LIHTC
  • Basic program mechanics for LIHTC with HUD P/B, HOME and/or RD
  • Reviewing LIHTC planning and vigilance
  • Year 15 planning
  • Identifying the top 5 noncompliance issues

Who Should Attend

  • Property managers
  • Property owners
  • Maintenance staff
  • Leasing consultants
  • Housing authority staff
  • Tax credit compliance staff
 

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About the Presenter(s)

Paul has been involved in the real estate industry for the past 38 years. He has been involved in sales, construction, project management, appraisal, property management and property management consulting/training.

Through his consulting company, Property Management Solutions, he provides training and consulting services nationwide to owners, management companies, multi-housing associations, as well as state and federal agencies.

He specializes in fair housing issues and has developed fair housing and outreach programs for governmental agencies as well as conducting seminars which are presented to property management companies, apartment associations and the general public nationwide. Most recently, he has been a consultant to the State of South Dakota. In this assignment he has developed a fair housing awareness program that is one of the first of its kind in the nation. It involves a three pronged approach to fair housing awareness. This approach makes use of an ombudsman concept and has proven to be very effective in dealing with discrimination and landlord/tenant issues.

For over twenty years he was involved in appraisal of residential, multi-family, farm and commercial properties throughout the Midwest. Most recently, he was a consultant for affordable, multi-housing properties in 22 different states. This involved properties in HUD, Rural Development, HOME and Tax Credit programs.

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

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.

Paul just authored a book which was released in January of 2015. It is titled: “Fair Housing: What Everyone Should Know”. This is a comprehensive book about the fair housing written with a property manager’s perspective and with real world examples.

Paul enjoys working with people and helping them be the best they can be.

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