Compliance & Credits: The Tools, The Rules and How They Affect Your HUD Multifamily Housing Project

IPED - The Institute for Professional and Executive Development, Inc.

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.

November 1 & 2, 2007
Millennium Biltmore Hotel
Los Angeles, CA 90071

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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 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.

Non-procurement government contracting: How government contract aspects affect your real property rights
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:

The Real Estate Assessment Center (REAC) Inspections
Management Inspections (MORs)
Market and other financial shortfalls
Transfer of physical assets/changes in control of the project owner
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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