Partnership Agreement Essentials for Tax Credit Developers (Part I)
So, what exactly is the purpose of a limited partnership agreement (LPA) in a partnership that leverages Low-Income Housing Tax Credit (LIHTC) equity to build affordable rental housing? More importantly, what are the essential LPA terms, conditions, obligations, covenants and responsibilities that you REALLY must understand as developer and/or general partner in a tax credit partnership? Failure to adhere to or effectively implement LPA requirements and standards or inability to satisfy negotiated benchmarks and tax benefits promised to the investor can directly impact the developer’s financial bottom line and business reputation. If you work in an organization that develops and operates LIHTC multifamily housing and would benefit from seasoned experts’ insights on the LPA or simply have limited experience navigating an LPA, this training is for you-- in particular if you are looking for some insights on how potential corporate tax reform is impacting partnership agreement terms and pricing.
Join Vinnie Viola, Principal of Birch Island Real Estate Consulting, LLC, and Susan Jennings, Senior Vice President and General Counsel at Conifer Realty, LLC, for an enlightening 90-minute live webcast that covers the essentials of LIHTC partnership agreements. The training will review the key frequently referenced sections of a typical LPA. The presenters will share some war stories in their respective professional roles as legal counsel and asset manager.