Overview

Join veteran state agency officials and leading industry experts with state agency experience for this in-depth review of federal Housing Credit program administration requirements, IRS reporting obligations, and recommended practices for maximizing the Credit’s effectiveness in producing and preserving affordable rental housing.

Since 1986, Congress has entrusted the state housing agencies with administration of the federal Low-Income Housing Tax Credit (Housing Credit) program. Guided by requirements in the Housing Credit statute, decades of important rulings from the Internal Revenue Service, and their own recommended practices, the states have embraced this responsibility and administered the program in a manner that greatly exceeds federal expectations.

This webinar focuses on the three primary state agency responsibilities for administering the Housing Credit: allocating Credits, underwriting developments for financial feasibility, and monitoring properties for compliance with federal rules. Throughout the four sessions, trainers will address the principal program administration differences between the 9 percent and 4 percent Housing Credit.

This training is essential for state housing agency staff and board members and industry participants seeking to broaden their understanding of how agency Housing Credit administration shapes affordable housing across the country and how the public-private partnership between the state allocating agencies and the Housing Credit industry strengthens program outcomes.

Register by August 26 to take advantage of the early-bird discount.

The webinar will be recorded and available on demand to all registrants.

Agenda

Wednesday, September 9

1:00 – 2:30 pm ET | Housing Credit Allocation Essentials

Review federal requirements and state agency strategies for designing qualified allocation plans (QAPs), implementing program priorities and preferences, establishing application requirements and project scoring criteria, verifying market study data, issuing reservations of Credit and carryover allocations, and completing IRS Forms 8610 and 8610 Schedule A to report Credit allocations to the IRS.

3:00 – 4:30 pm ET | Ensuring the Financial Feasibility of Housing Credit Developments

Gain a better understanding of the state agency role in underwriting developments, limiting Credit allocations to the amount needed for financial feasibility, evaluating various gap financing sources, assessing debt coverage and reserve requirements, limiting development costs and developer fees, reviewing cost certifications, and completing IRS Form 8609 to document a development’s placement in service.

Thursday, September 10

1:00 – 2:30 pm ET | Monitoring Compliance in Housing Credit Properties

Discuss federal requirements and state agency strategies for monitoring compliance in Housing Credit developments, including documenting initial compliance, reviewing tenant files, conducting physical inspections of properties, monitoring during the Credit and extended use periods, and completing IRS Form 8823 to report program noncompliance to the IRS.

3:00 – 4:30 pm ET | Maximizing Housing Credit Program Effectiveness

Explore the critical role the industry plays in effective Housing Credit program administration, including commenting on changes to QAPs and other agency policies, coordinating on project underwriting and financing issues, and partnering on noncompliance correction. Discuss the impact of NCSHA’s Recommended Practices in Housing Credit Administration on strengthening program administration and maximizing program outcomes.