Duration:

1 hour 30 minutes

Description

What is the purpose of a limited partnership agreement (LPA) in an affordable housing project that uses Low-Income Housing Tax Credit (LIHTC) equity? More importantly, what are the essential LPA terms, conditions, obligations, covenants and responsibilities that you REALLY must understand as a stakeholder in a tax credit partnership? If you work in an organization that develops, operates or invests in LIHTC multifamily housing and would benefit from a seasoned expert's perspective on the LPA or simply have limited experience navigating this essential document, this training is for you.

Join seasoned tax credit asset manager Vinnie Viola for a 90-minute training that covers the basics of LIHTC partnership agreements. He will review the frequently referenced terms and sections of a typical LPA, considering both the investor limited partner's and general partner's perspectives. Attendees may submit questions for discussion and participate in on-screen polls.​​ 

Agenda​​​:

• Purpose of Limited Partnership Agreement
• Partnership Formation & Structure​​
• Ancillary Legal Agreements
• What You REALLY Need To Understand in the LPA
• Capital Contributions
• Projected Tax Credit Amount & Equity Adjusters
• Rights, Powers & Obligations of the GP
• GP Limitation on Authority
• ILP Rights
• Cash Waterfall and Distributions
• Lifecycle Reporting Obligations
• LPA Exhibit - LIHTC Financial Model
• Year-15 Dispositions
• Tips for Successfully Managing a LIHTC Partnership​​​