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Exit Strategies for Low-Income Housing Tax Credit Projects
Course No. 3051 Return to Training Calendar
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Instructors: |
Dan Mendelson and Bob Powers |
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Date: |
June 8th and 9th, 2010 |
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Time: |
June 8 - 8:30 to 4:30 |
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Location: |
Washington State Housing Finance Commission |
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Cost: |
$315 per person |
This hands-on workshop will cover the Year 15 exit process for Low-Income Housing Tax Credit (LIHTC) projects and current trends in the LIHTC universe. Each participant brings a real deal and works toward an understanding of the steps necessary to develop and implement an exit strategy for the limited or general partner. Participants will leave with an understanding of how to evaluate the performance of their low-income housing tax credit project compared to initial expectations. Participants will also learn whether changes to their strategies are needed to optimize the nonprofit owner's position, especially with regard to purchase of the project at the end of the 15-year compliance period. This course will deal specifically with fair market, exit taxes and alternatives to continuing partnerships for the full 15 years. All participants will be asked to bring project documents with them so that discussions and examples focus on the real-life situations many nonprofit organizations are facing with LIHTC projects.
About the trainers
Dan Mendelson is an affordable housing finance and syndication expert specializing in negotiating and structuring of transactions and programs including Exit Strategies for General and Limited Partners of Low Income Housing transactions and funds. Mr. Mendelson has worked for public, community based and private institutions and businesses. Prior to creating his own company, DTM and Associates, Inc., Mr. Mendelson was Senior Vice President of Acquisitions for the Enterprise Social Investment Corporation (ESIC) and dedicated fourteen years to building and managing the ESIC syndication business to more than $500 million per year. He is fluent in all aspects of the Low Income Tax Credit business, having negotiated, structured, managed, marketed, and underwritten Low Income Tax Credit and Historical Tax Credit real estate transactions and equity funds.
Bob Powers is the founder of Sound Community Ventures, LLC, a consulting firm focusing on innovative affordable housing finance and development strategies. Bob brings over 20 years of experience working with low income housing tax credit syndicators, investors and developers. SCV assists national and local clients in implementing affordable housing strategies and exploring creative funding solutions. From 1992 to 2005, Bob was employed in Enterprise's LIHTC equity syndication business. His most recent position was as chief acquisitions officer where his responsibilities included managing staff resources, marketing to development and investor partners and achieving national production targets.
Continuing Education Credit
If you are interested in using this training to meet your Continuing Professional Education requirements as a CPA, please contact Jennifer LaBrecque at jennifer@impactcapital.org, or for general questions about this or any Impact Capital training.
Thank you to our generous sponsors!
