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McKonly & Asbury Holds Fall Affordable Housing Seminar

McKonly & Asbury to Present “Tax Credits 101” at Homes Within Reach Seminar

Blog main pic McKonly & Asbury is pleased to offer “Tax Credits 101” as a Professional Institute  at the Housing Alliance of Pennsylvania’s 2010 Homes Within Reach conference. The Professional Institutes are new this year at the Homes Within Reach conference and are designed to go deeper into specific topics than the workshops allow time for. Join us on Monday, November 8, 2010, from 12:30p.m. – 5:30 p.m. at the Homes Within Reach conference at the Harrisburg Hilton for concentrated instruction on the various phases of developing a Low-Income Housing Tax Credit project. We will be joined by experts in their respective fields of the LIHTC industry for an in-depth look at all aspects of a tax credit development.  Topics and speakers to include:

Tax Credit Basics
In this session, you will learn about the low-income housing tax credit industry, how tax credits work, and what is involved in developing a tax credit project. Elizabeth Brooks of McKonly & Asbury’s Affordable Housing Segment, will present an overview of what you need to know to develop a LIHTC project and will include a comprehensive example “by the numbers” of a tax credit project.

Financing Your Project and Attracting an Investor
This session will explore how to finance a tax credit project.  Join Peter Kaplan of PNC Multifamily Capital as he discusses how investors and syndicators evaluate developments. You will also be given tips on what to look for in an investor’s commitment letter. We will examine sources of funds available to fill funding gaps and have David Doray from PHFA, Vicki Lori from DCED, and John Bendel from the Federal Home Loan Bank on hand to explain their funding sources and how to apply.

Site Selection and Designing the Building(s)
What are the steps to identifying a good site for your development? What happens after a site is identified? Does PHFA have to approve the site? Do I need an appraisal? Do I need an environmental audit? What are the steps to getting a land development plan? Tim Henkel of Pennrose Properties, LLC will discuss what makes a good site and what needs to happen after a site has been selected. There are several threshold criteria and many points to be awarded based on the design of your building(s). Nancy Bastian of Cecil Baker Partners will discuss threshold and points driven development amenities, unit amenities, visitability, digital accessibility, and energy conservation. We will also be discussing pitfalls to avoid when selecting your site and designing your building.

The Tax Credit Application
Elizabeth Brooks of McKonly & Asbury, will discuss what is needed for a feasible application. We will discuss the timeframe for putting an application together, what third parties need to be involved, and what information needs to be gathered by the developer. We will also walk through a development budget.

Interpreting Your Market Study
What is a capture ratio? Is the number good? How great is the need in the market you are planning to locate your development? Get these questions answered and learn more as Mark Shonberg of Barone, Murtha, Shonberg, and White will walk you through how to read and make sense of a market study.

Registration is through the Housing Alliance of Pennsylvania. For registration information, click here.

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