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Compliance & Credits: The Tools, The Rules and How They
Affect Your HUD Multifamily Housing Project
November 1 & 2, 2007
Millennium Biltmore Hotel
Los Angeles, CA 90071
Update on California Air Quality
Walk Up Registration Available!
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Sponsored in part by:
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Who Should Attend
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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
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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
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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
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Real estate and tax attorneys, accountants and other advisors to
tax credit participants with interests in HUD-assisted and/or - insured housing
projects who need an overview or update of the fundamental rules, techniques
and practices applicable to today's transactions
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Why You Should Attend
While there is no question that HUD has been a cornerstone in affordable housing
and development for more than 70 years, the Low-Income Housing Tax Credit
(LIHTC) program - born 50 years after HUD's inception - has proven to be a
powerful tool in developing affordable multifamily housing. Thousands of
properties, including a large portion of tax credit developments, exist only
because of the financial foundation that HUD can provide. In recent years,
however, HUD's official and unofficial requirements have increased
exponentially resulting in potentially successful programs being burdened with
criticism and violation enforcement. This environment of heavy scrutiny costs
borrowers and lenders thousands of dollars as they are forced to demonstrate
compliance or are fined for what some industry observers would classify as
merely "technical violations."
This conference will shed light on the potential obstacles for new lenders and
borrowers in HUD properties - both with and without tax credits - as well as
offer tips for more cost effective asset management. A highlight of the
conference will be the interactive case studies on the second day that will
illustrate the possibilities behind a few of the obvious - and a few of the
obscure - compliance and tax credit issues.
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The Speakers
Farzaneh Azouri
Vice President and Associate General Council
AIG SunAmerica, Inc.
Woodland Hills, CA
W. Thomas Booher, Esq.
Executive Vice President
PNC MultiFamily Capital
San Francisco, CA
Faith K. Bruins, Esq.[
bio ]
Partner
Nixon Peabody LLP
San Francisco, CA
Robert K. Carrol, Esq.[
bio ]
Partner
Nixon Peabody LLP
San Francisco, CA
Kelly B. Kramer[
bio ]
Partner
Nixon Peabody LLP
Washington, DC
Robert Kriensky
Chief Operating Officer
GH Capital, LLC
Sherman Oaks, CA
Richard M. Price, Esq. ** [
bio ]
Partner
Nixon Peabody LLP
Washington, DC
Steve Shumrak, CPA
Partner
Reznick Group
Sacramento, CA
Monica H. Sussman, Esq. ** [
bio ]
Partner
Nixon Peabody LLP
Washington, DC
Ronne Thielen
Managing Director
Centerline Capital Group, Inc.
Irvine, CA
Susan G. Wilson, CPA
Partner
Novogradac & Company LLP
Austin, TX
**Planning Committee
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Agenda
Thursday, November 1, 2007
8:00 A.M.
Registration & Networking Breakfast
9:00 A.M.
A History and Overview of HUD, FHA and Low-Income Housing Tax Credits
Compliance and Enforcement Tools
This panel will address HUD regulatory and compliance history and strategy,
potential civil and criminal pitfalls, including civil money penalties, Limited
Denial of Participation (LDP), suspension and debarment, False Statements, and
recapture. This panel will also discuss related asset management and compliance
issues for the Low-Income Housing Tax Credit (LIHTC) programs and recapture
issues.
10:00 A.M.
Coffee Break
10:15 A.M.
Previous Participation Clearance: Hot Topics for the 2530/APPS Processes
Any new HUD multifamily transaction starts with an electronic submission for
each company and most - or all - of its officers through the HUD Form 2530
process. This is a gatekeeper regulation process that affects developers,
syndicators, investors, management companies and consultants. This session will
address the where, why and how of processing through the Preservation Approval
Process Improvement Act of 2007, the Active Participants Process System (APPS)
and reporting and resolving flags with the Multifamily Participation Review
Committee (MPRC).
11:30 A.M.
Coffee Break
11:45 A.M.
HUD Business Agreements & Sophisticated Legal, Tax and Accounting Issues
This session will address HUD audit and accounting basics as well as how project
funds, other loans, repayments, fees and distributions can be used.
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Non-procurement government contracting: How government contract aspects affect
your real property rights
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Tax credit and HUD programs - rent and income levels
1:00 P.M.
Complimentary Networking Lunch
2:15 P.M.
Overarching & Obligatory: Federal Requirements You Need to Know About
HUD agreements usually incorporate a wide range of additional federal
obligations. This session will provide a foundational understanding of fair
housing, accessibility, occupancy, lead-based paint, and labor standards.
3:30 P.M.
Coffee Break
3:45 P.M.
It's Your Project But...Is it Really?!?
So you closed your nonrecourse HUD deal. Now what? And is it really nonrecourse?
This session will focus on:
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The Real Estate Assessment Center (REAC) Inspections
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Management Inspections (MORs)
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Market and other financial shortfalls
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Transfer of physical assets/changes in control of the project owner
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Housing Assistance Payment (HAP) assignments
4:45 P.M.
Question & Answer Session
5:15 - 6:30 P.M.
Networking Cocktail Reception for All Participants and Speakers
Friday, November 2, 2007
9:00 A.M.
Registration and Networking Breakfast
9:30 A.M.
When Bad Things Happen To Good People: Case Studies in Obstacles and
Opportunities
Building on the information learned during the first day of the conference,
leaders in the affordable housing industry will use real life examples to
explore the obvious - and a few of the obscure - issues that commonly afflict
HUD multifamily housing projects.
Conference participants are encouraged to share their own compliance and tax
credit issues at www.ipedinc.net. The conference planning committee will select
a variety of experiences from the submissions and use them to create a series
of case studies for this highly interactive, very educational session.
Please Note: All submissions are due by October 5, 2007, and
should be no longer than 400 words in length. Submissions will be used to
create hypothetical case studies; names, facts and/or issues may be changed to
enhance the educational value of the case studies. The content of this session
will be prepared for informational purposes only and should not be construed as
legal advice. The discussions and conclusions formulated in this session will
not be intended to create, and does not constitute, a lawyer-client
relationship, and participants should not act upon it without seeking
professional counsel. Please do not submit any confidential information that
cannot be publicly shared.
11:00 A.M.
Coffee Break
11:15 A.M.
When Bad Things Happen to Good People: Case Studies in Obstacles and
Opportunities (continued)
12:15 P.M.
Conclusion of the Final Program/Optional Q & A Session
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Conference Site and Hotel Information
Millennium Biltmore Hotel
506 South Grand Avenue
Los Angeles, CA 90071
213-624-1011
1-800-245-8673
www.thebiltmore.com
IPED has secured a block of rooms at a rate of $189 per night through October
10, 2007. Reservations made after October 10- 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.
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Instructional Information
Course level: This seminar, designed for individuals with a basic
familiarity of HUD-assisted properties and the low-income housing tax credit,
will provide a general overview of the program, its rules and practices as they
work today.
Prerequisites: There are no formal pre-requisites 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. A specifically
prepared book of reference materials described on the inside panel of this
brochure will be distributed to each 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
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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 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.
In accordance with the standards of the National Registry of CPE sponsors this
course has been granted 10 CPE Credits.
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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 October 18, 2007 to ensure your registration.
IPED accepts Visa, MasterCard and payment by check. Government purchase orders
and American Express are not accepted.
Fees and payment
$695 General Registrant
$595 Non-profit/Government/Education Organization Fee (Proof of tax exempt
status must accompany registration.)
Register by September 28, 2007 and save $35.00. This discount cannot be
combined with group discounts.
Payments must be made by check or credit card, in advance of
the program.
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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 transaction. This
discount CANNOT be combined with any other offer, including the Early
Registration Offer.
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Cancellation Information
Cancellations must be received in writing (by mail, fax or e-mail) in the IPED
office no later than 10 days prior to the conference start date. A $200
administrative fee will be deducted from all cancellation refunds received in
the office no later than 10 days prior to the conference start date. Any
cancellation received less than 10 days prior to the conference start date, or
any confirmed registrant who fails to attend the conference, forfeits the
entire registration fee.
Questions? Please contact IPED, Inc. at 202-331-9230 or
info@ipedinc.net
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| Price each: |
General: $695.00
Non-profit: $595.00 |
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Total
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General: $695.00
Non-profit: $595.00
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| Walk Up Registration Available! |
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