Calendar

Partnership Agreement Essentials for Owners and Developers of LIHTC Housing

Dates: 

March 13, 2019
8:30am - 12:00pm

Location: 

Boston Private, Great Room
10 Post Office Square
Boston, MA 02109

Instructors: 

Vinnie Viola, Principal, Birch Island Real Estate Consulting, LLC

Multifamily Asset Management Series:

This training is being offered in conjunction with Essential Elements for Successful Asset Management of Your Multifamily Rental Portfolio and Multifamily Performance Metrics that Matter - The Portfolio Dashboard Perspective. If you are registering for all three trainings, there is a discounted rate of $42 each ($126 total) for MACDC Members and $67 each ($201 total) for Regular tickets-

You must register at the above link and the Essential Elements for Successful Asset Management of Your Multifamily Rental Portfolio and Multifamily Performance Metrics that Matter - The Portfolio Dashboard Perspective links.

If you are only registering for Partnership Agreement Essentials for Owners and Developers of LIHTC Housing, please select the regular pricing at $50 (MACDC Member) or $75 (Regular).

Community Development Corporations and affordable housing developer organizations often serve as general partners / sponsors of multifamily tax credit partnerships. As the entity that typically has 100% control of a tax credit partnership’s day-to-day affairs, how well do you as the general partner (or managing member in the case of an LLC) understand the many negotiated articles, terms and requirements outlined in a typical limited partnership agreement (LPA)? In this introductory-level training, participate in group exercises and discussions and learn what tax credit developers really need to understand in the LPA from Vinnie Viola, a veteran tax credit asset manager: The training will cover:

  • Purpose of the LPA, the binding contract between the general partner (GP) and investor limited partner (ILP)
  • Importance of the many capitalized and defined terms in the LPA
  • Rights, powers and obligations of the GP
  • Limitations on authority of the GP
  • Lifecycle reporting obligations of the GP (i.e., construction, initial lease-up and throughout the compliance period)
  • Determination of the ILP’s capital contribution amount and typical capital earnout benchmarks
  • Calculation of the annual credit amount to the LP and potential capital adjusters for credit shortfalls.
  • Analysis of cash ‘waterfall’ and distributions to partners
  • Tips for successfully managing your tax credit partnerships

Presenter Bio: Vinnie Viola, HCCP, MPA, is principal of Birch Island Real Estate Consulting, LLC, based in Milton, MA. Formed in 2013, Birch Island offers asset management expertise and web-based and private trainings to funders, owners, developers and operators of multifamily housing funded with Low-Income Housing tax Credit (LIHTC) equity. With 25+ years’ experience, Vinnie has worked in for-profit, government and not-for-profit organizations that invest in, asset manage and regulate multifamily affordable housing. His career includes ten years in various leadership roles with two Boston-based tax credit syndicators, through which he acquired expertise with multifamily asset management best practices. In these roles, Vinnie actively participated in hundreds of investment committee meetings for prospective tax credit investments. He proactively asset managed thousands of rental units in hundreds of investment partnerships, comprising over $1 billion in investor contributed equity. Among other clients, for NeighborWorks America Vinnie participates in organizational assessments of charter member organizations, focusing on profitability and production of real estate development, asset management and property management lines of business. Vinnie received his Bachelor of Arts in Geography from the University of Massachusetts Boston and a Master of Public Affairs from the University of Texas Dallas. He is an active member of NH & RA's Asset Management Council, a unique peer network that convenes affordable housing executives from multifamily development firms as well as syndicators, tax credit investors and lenders, to develop operational best practices.

Registration deadline: 

Wednesday, March 6, 2019

Registration fee: 

MACDC Members: $50, Regular: $75

Type of event: 

MKI Training

Learning area: 

Real Estate Development