Annual Affordable Housing Update: Opportunities in a Changing Economy

The Blackstone, A Renaissance Hotel
Chicago, IL
July 10 - 11, 2008

Who should attend  |  Why you should attend   |  Speakers Agenda   |  Price  |   Instructional Information   |  Hotel Info Registration Info  |  Accreditation   |   Brochure   |   Sponsors

Sponsored in part by:

Who Should Attend

• Owners, developers, syndicators, property managers, and applicable staff and advisors of HUD-insured or HUD-subsidized multifamily housing projects, including projects with Low-Income Housing Tax Credits, who want a better understanding of HUD operations and how they are related to tax credits
• Investors, lenders, underwriters, and others with financial interests in HUD multifamily properties who are looking for a straightforward and practical analysis of the business and technical issues surrounding today's use of HUD subsidy and how it relates to the Low-Income Housing Tax Credit
• Public housing agency and community development staff, non-profit representatives, and others who want step-by-step information and how it fits into the overall development process
• Real estate and tax attorneys, accountants, and other advisors to tax credit participants with interests in HUDassisted and/or -insured housing projects who need an overview or update of the fundamental rules, techniques, and practices applicable to today's transactions

---- top of page ----

Why You Should Attend

As 2008 opened, Congress returned to a full housing agenda including Federal Housing Authority modernization, Low- Income Housing Tax Credit reform, and affordable housing preservation. After months of negotiation, Congress and President Bush reached an agreement on the $555 billion Fiscal Year 2008 omnibus appropriations bill. The total FY '08 appropriations for HUD is $37.6 billion, a $1.4 billion increase over FY '07. Funding for key housing programs includes $6.4 billion for project-based Section 8; $16.4 billion for Section 8 vouchers, including enhanced vouchers; $4.2 billion for the public housing operating fund; $3.6 billion for CDBG; $735 million for Section 202 elderly housing; and $100 million for HOPE VI.

At the same time, the fallout from the subprime mortgage crisis has absorbed tremendous amounts of capital causing a decline in available investment dollars. This liquidity crunch has caused tax credit pricing to decrease, increasing the need for additional federal resources.

With this backdrop comes challenges in light of the 2007 Section 8 subsidy shortfalls and concerns about shortfalls in this and other programs in 2008. Led by industry experts, this conference will provide candid insights, observations and real-life examples for how to address these issues in a changing economy.

---- top of page ----

The Speakers

Dena Al-Khatib
Executive Director
Chicago Community Land Trust
City of Chicago Department of Housing
Chicago, IL

Rob Anthony
Executive Director
Highland Park IL Community Land Trust
Highalnd Park, IL

Daniel J. Duggan
Chief Counsel
US Department of Housing and Urban Development
St. Louis, MO

John Fazio
Project Manager
Chicago Multifamily HUD
US Department of Housing and Urban Development
Chicago IL

Colleen M. Fisher
Executive Director
Counsel for Affordable and Rural Housing
Alexandria, VA

George Gilmore
Senior Project Manager
Chicago Multifamily HUD
US Department of Housing and Urban Development
Chicago IL

Jonathan Goldstein
McCormack Baron Salazar, Inc.
St. Louis MO

Jeffery R. Hayward
SVP Community Lending & Development
Fannie Mae
Washington, DC

John B. Meyers
Consultant
John B. Meyers & Associates
Louisville, KY

Michael L. Moses
Column Capital, LLC
Cleveland OH

Adam Natenshon
Vice-President
Brinshore Development
Northbrook, IL

Richard M. Price, Esq. ** [ bio ]
Partner
Nixon Peabody LLP
Washington, DC

Carol S. Rabenhorst
Senior Legal Advisor
The Urban Institute
International Activities Center
Washington DC

Vincent M. Rague
Global Finance Markets
International Finance Corporation
Washington, DC

Michael H. Reardon, Esq. [ bio ]
Partner
Nixon Peabody LLP
Washington, DC

David Reznick, CPA
Principal and Chairman
Reznick Group, P.C.
Bethesda, MD

Monica H. Sussman, Esq. ** [ bio ]
Partner
Nixon Peabody LLP
Washington, DC

Todd W. Wendorf
Office of Public and Indian Housing
US Department of Housing and Urban Development
Chicago, Illinois

Harry West
Portfolio Director, OMHAR
US Department of Housing and Urban Development
Chicago IL

Susan G. Wilson, CPA
Partner
Novogradac & Company LLP
Austin, TX

**Planning Committee

---- top of page ----

Agenda

Thursday, July 10, 2008

8:00 A.M.
Registration and Continental Breakfast

9:00 A.M.
Welcome and Introductions

9:15 A.M.
New Legislation and Multifamily Policies
This session will:

• Provide current event updates on legislation impacting affordable housing, tax credit modernization, HUD preservation, and exit tax relief
• Review HUD policies on unit reduction and deferred repayment of Flex Subsidy Loans

10:15 A.M.
Preservation Roundtable
This roundtable will provide information about the following industry topics:

• Office of Affordable Housing Preservation (OAHP) update
• Gap fillers, HOME, project-based vouchers and other Section 8 issues
• Year 15 tax credit issues affecting HUD properties

11:00 A.M.
Networking Break

11:15 A.M.
Trends and Opportunities in HUD 202s
The 202 program and the related 811 program are traditionally non-profit housing with direct financing from HUD. These programs have been opened to syndication as part of broad-based preservation efforts. This panel will examine developments learned through preservation successes.

• Refinancing old 202s
• New mixed financing 202s

12:15 P.M.
Complimentary Networking Lunch

1:30 P.M.
Mixed Finance Update
This session will focus on:

• HUD requirements and approvals for public housing authorities partnering with private resources
• The need for new revenue sources

2:30 P.M.
Coffee Break

2:45 P.M.
Emerging Multifamily Strategies
This session will offer information about:

• Community Land Trusts: Helping public bodies combine public and private finance
• Condo conversions in affordable transactions
• Student housing
• Inclusionary zoning

4:00 P.M.
Affordable Housing Goes Worldwide
This session will focus on:

• Affordable housing opportunities and investment abroad
• Market for equity participation, debt need, and development need

5:00 - 6:30 P.M.
Networking Reception for All Participants and Speakers

---- top of page ----

Friday, July 11, 2008

8:30 A.M.
Registration and Continental Breakfast

9:00 A.M.
Rural Housing in America-Using 515s and 538s
The United States Department of Agriculture (USDA) is promoting transactions in this portfolio. Learn from industry professionals what portion in financeable now, how USDA is experimenting with different techniques, and how industry groups are responding. This session will also offer information about:

• Updates on the Rural Housing Multifamily Demonstration Program
• Examination of interaction between different USDA program rules
• Examination of interaction between USDA program rules and tax credits

10:15 A.M.
Networking Break

10:30 A.M.
HUD Regulatory Compliance
HUD requires individuals or corporate entities who wish to "participate" or play a role in a Multifamily Housing property to receive approval from them. Applicants may request HUD's approval by submitting a HUD-2530 (Previous Participation Certification) form to the office responsible for overseeing the specific property. This session will address the latest trends, interpretations, and forms for this important step in the process and will also offer information about:

• Updates on Real Estate Assessment Center (REAC) and Management and Occupancy Report (MOR)
• Transferring Housing Assistance Payments (HAPs) to new properties

11:45 A.M
Conference Concludes

---- top of page ----

Instructional Information

Course level: This seminar is designed for individuals with a basic familiarity of HUD-assisted properties and the Low-Income Housing Tax Credit program.

Prerequisites: There are no formal prerequisites for this program other than a basic working knowledge of affordable housing development and finance, and no specific advanced preparation is required.

Teaching Methods: All sessions will be presented live, by on-site speakers. The teaching modes will include individual presentations, panel discussion, role playing, and question and answer sessions. Applicable reference materials will be provided for each paid registrant at the start of the program.

Special Needs: Any person with a disability who believes he/she may need reasonable accommodations to participate should contact IPED no later than 4 weeks prior to the conference start date.

Recommended Dress: Business Casual

---- top of page ----

Accreditation

IPED will seek approval for continuing legal education credits on an as-needed basis. Please indicate on your registration form if you need these credits. State bar associations have the final authority on the acceptance of individual courses and IPED will do everything it can to ensure these requirements are met when seeking approval.

IPED is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Nashville, TN 37219-2417, www.nasba.org.

---- top of page ----

Registration Information

The registration fee includes all applicable sessions, refreshments, lunches, receptions, and reference and/or course materials unless otherwise noted. Payment must be received by June 30, 2008, to ensure your registration. IPED accepts Visa, MasterCard, and payment by check. Government purchase orders and American Express are not accepted. There are NO EXCEPTIONS to this policy.

Fees and payment
$795 General Registrant
$595 Non-profit/Government/Education Organization Fee (Proof of tax exempt status must accompany registration.)
Early Registration Offer: Save $75 if registered by May 15, 2008! This discount cannot be combined with group discounts.

---- top of page ----

Group discounts

For 3-5 registrants, deduct $50 per person from the applicable rate. For 6 or more registrants, deduct $100 per person from the applicable rate. To receive this discount, you must register all individuals in one payment transaction. This discount CANNOT be combined with any other offer, including the Early Registration Offer.

---- top of page ----

Conference Site and Hotel Information

The Blackstone, A Renaissance Hotel
636 South Michigan Avenue
Chicago, IL 60605
866-508-0261
www.blackstonerenaissance.com

IPED has secured a block of rooms at a rate of $269 single/$289 double per night through June 25, 2008. Reservations made after June 25 - or after the room block has been filled - will be taken on a space available basis and higher rates may apply. To make your reservation, please contact the hotel directly and ask for the IPED Room Rate.

About The Blackstone
Discover a legend with the remarkable revival of The Blackstone, A Renaissance Hotel in Chicago, Illinois. Indulge in a distinctly historic Chicago hotel ambiance, which has been a favorite retreat to movie stars, sports legends, royalty and presidents since 1910. Meticulously restored to its original grandeur after a $128 million renovation, the acclaimed Blackstone Hotel houses a seamless mix of traditional architecture and modern design, highlighted by contemporary video art and over 1,400 works by local artists. Luxurious accommodations and amenities enhance each of the 332 stunning guest rooms and 4 stately suites, while 11,000 square feet of lavishly preserved event space carry on the tradition of opulent affairs at this luxury hotel in Chicago. A convenient location near Grant Park, Soldier Field, Field Museum, and Shedd Aquarium positions this Chicago Loop hotel in the heart of the Windy City's top attractions. Experience the renowned Chicago Blackstone Hotel, where memory meets reality in a legendary way.

---- top of page ----

Cancellation Information

Registrations made on-line must be cancelled on-line. Registrations made via fax or mail must be cancelled in writing via mail, fax or e-mail to the IPED office. Mailing address: IPED, Inc., 401 Ninth Street, NW, 8th Floor South, Washington, DC 20004. Fax: 202-585-8748. Email: info@ipedinc.net.

• Cancellations requested on/before June 29, 2008, are eligible for a refund minus a $225 administrative fee.
• Cancellations requested on/after June 30, 2008, will forfeit the entire registration fee.

Fees, dates, details, and Cancellation Policy subject to change. In rare instances when a conference is rescheduled or cancelled, IPED will fully refund the registration fee, but is not responsible for other costs incurred, such as nonrefundable airline tickets.

Questions? Please contact IPED, Inc. at 202-331-9230 or info@ipedinc.net

---- top of page ----

---- top of page ----