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Webcast: Fundamentals of Cost Segregation Study for LIHTC Projects

Dates: 

December 5, 2019
2:00pm - 3:30pm EST

Instructors: 

Brian Feeney; Robert A. Kitchen, CPA; Vinnie Viola, MPA, HCCP; Jeff Vitton; Brendan Walsh, JD, MBA, CCSP

Fundamentals of Cost Segregation Study for LIHTC Projects - Benefits, Risks & Opportunities for Developers & Investors

About This Webcast

Cost Segregation is a tax planning strategy that can produce positive benefits for developers and investors of multifamily housing that leverages Low-Income Housing Tax Credit (LIHTC) equity. A cost segregation study provides a time-value tax benefit to the investors in a LIHTC project, which can help offset the decrease in equity pricing caused by the lower corporate tax rate established with enactment of Tax Cut and Jobs Act of 2017 (TCJA). Careful planning is essential to ensure that tax credit investors consider the tax benefits created by a cost segregation study and to avoid any negative impacts to other credit incentives and partnership capital accounts.

If incorporating cost segregation analysis to the underwriting of tax credits is a goal for your organization in 2020 or if you simply want a better understanding of this IRS-permitted tax strategy for tax credit projects, this webcast collaboration among accounting and syndication professionals is ideal for you. Join webcast host Vinnie Viola of Birch Island Real Estate Consulting and panel experts from Clark Schaefer Hackett CPAs and Advisors and tax credit syndicator Cinnaire for a 90-minute live webcast that presents fundamental concepts and applications of cost segregation for tax credit partnerships. The panel will share their insights and perspectives on the application of cost segregation to tax credit investments since the enactment of the TCJA. Webcast attendees may participate in on-screen polls and submit questions to the panel. Scroll down to view panelist bios.

Agenda

  • What is a Cost Segregation Study?
  • Benefits of Cost Segregation: Developer & Investor Perspectives
  • Cost Segregation in 4% and 9% LIHTC Projects
  • Timing of Cost Segregation Study for LIHTC Investments.
  • Understanding Depreciation Cost Recovery Elections in Tax Returns 
  • Cost Segregation Case Study: New Construction 9% Tax Credit Project
  • Questions

Is This Webcast for Me?

This training is ideal for tax credit project stakeholders involved in the structuring of tax credit investments, negotiating terms in the partnership agreement, analyzing projected vs actual yield of a LIHTC investment:

  • LIHTC / Multifamily Developers
  • LIHTC Project Underwriters
  • Acquisition Analysts
  • Project Managers
  • Portfolio Managers
  • Asset Managers
  • Others that want to learn about Cost Segregation studies

​Presenter Bios

Brian Feeney is Pre-Stabilized Fund Manager at Cinnaire. Brian joined Cinnaire in 2015 as a fund analyst in the company’s Lansing, MI, office. He was promoted to Pre-Stabilized Fund Manager in 2019 where he manages LIHTC projections and investor reporting, construction and lease up schedules and fund analysis, all while keeping up with the tides of tax reform. Brian earned a B.A. in International Relations and a B.S. in Economics from Michigan State University.

Robert A. Kitchen, CPA, Principal at Clark Schaefer Hackett, plays an integral role in planning and executing audit and tax work for nonprofit developers of affordable housing, including Single Audit, HUD and conventional tax credit audits. He has experience completing and advising on cost certifications and carryovers to state housing authorities. Because Rob has significant background in both nonprofit taxation and assurance services, he is able to offer comprehensive services to his clients. These services are concentrated on the business needs of those who develop, finance or otherwise support the affordable housing sector. Rob works with clients to provide accurate and reliable financial statements through advice on complex GAAP accounting, analysis of misstatements in prepared financial statements and how to tell and position their story to the users of the financial statements. He shares his knowledge through published articles, webinars and presentations at various industry conferences. Rob also has expertise outside of affordable housing, providing audit services to real estate operating companies and behavioral healthcare organizations.

Vinnie Viola, MPA, HCCP, is Principal and Founder of Birch Island Real Estate Consulting, LLC. His company provides asset management consulting services trainings to owners, developers, operators and investors of multifamily housing funded with LIHTC equity. With over 25 years’ experience, Vinnie has worked in for-profit, government and not-for-profit organizations that invest in, manage and regulate affordable housing. His career includes ten years in various leadership roles at Boston Financial Investment Management and Boston Capital, through which he gained expertise with asset management best practices. In these roles, Vinnie participated in hundreds of investment committee meetings for prospective tax credit investments. He proactively managed thousands of rental units in hundreds of investment partnerships, comprising over $1 billion in investor contributed equity. Vinnie received his Bachelor of Arts in Geography with concentration in urban planning from the University of Massachusetts Boston and 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.

Jeff Vitton is an underwriter at Cinniare. His two favorite things are closing LIHTC transactions on-time and on-budget as an Underwriter at Cinnaire. He strives to identify win/win scenarios, mitigate risk, and provide value-add for Cinnaire’s partners. He caught the housing and community development bug swinging a hammer for various non-profits through the National Civilian Community Corps at eighteen years old and hasn’t looked back since. His personal life vision is to help empower communities to direct their own future and build faith in themselves. Prior to joining Cinnaire he primarily worked on local community and economic development efforts in Indiana, Michigan, and most recently in Wisconsin as the Housing and Community Development Manager for the City of Racine. Jeff holds a Bachelor of Science in Urban and Regional Planning from Michigan State University and a Certificate in Commercial Real Estate Analysis and Investment from the Massachusetts Institute of Technology. 

Brendan Walsh, JD, MBA, CCSP, principal at Clark Schaefer Hackett, provides strategic tax consulting for businesses and their owners. Understanding that taxes can be an intimidating topic, Brendan enjoys translating complex tax laws into language his clients can understand. He combines both his technical knowledge of tax concepts and legal acumen to decipher and interpret these laws with a focus on identifying benefits/opportunities for businesses. Brendan’s work focuses on strategic tax planning to minimize tax exposure, specializing in fixed asset strategies, depreciation, cost segregation, and tangible property regulations in the construction and real estate industries. With over 10 years of experience, he has worked with companies ranging from start-ups to billion-dollar, publicly traded entities. A true business advisor, Brendan is passionate about helping organizations find solutions that will help them reach their goals, even if they are not tax related. He shares his knowledge as a frequent author and speaker on the topics of cost segregation, tangible property regulations, and overall strategic tax planning.

Please contact Vinnie Viola at Birch Island Real Estate Consulting with any questions about this training or your registration at vinnie@birchislandrec.com or (617)905-6340.

Registration fee: 

$109.00

Type of event: 

Partner Events

Learning area: 

Real Estate Development

Partners: 

Birch Island Real Estate Consulting, LLC