Historic Tax Credit Developer's Conference
sponsored by Nixon Peabody LLP and Reznick Group

Don CeSar Beach Resort
St. Pete Beach, FL
February 7 - 8, 2008

Onsite Registration Available

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

Sponsors:

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Why You Should Attend

No one has more firsthand knowledge about the redevelopment of historic buildings than real estate developers - that's the premise behind the Historic Tax Credit Developer's Conference. Through case studies and panel discussions, developers seasoned in the use of Historic Tax Credits will share their experiences with for-profit and non-profit building owners and developers from across the country who are interested in using these credits to finance their projects.

Increasingly, 'modern' buildings are eligible for Historic Tax Credits. Regional banks and specialized funds are creating new competition for tax credit deals. Volatility in the real estate and capital markets, the office and retail focus of the rehab-friendly New Markets Tax Credit program, and the changes in the marketplace for Low-Income Housing Credits are all up-ending old models for financing the adaptive reuse of historic buildings.

These developments create opportunities for newcomers and require that even seasoned HTC pros keep themselves updated. The Historic Tax Credit Developer's Conference will shine a light on the future of the finance and development of historic buildings - covering both the basics and cutting edge developments - with a developer-todeveloper focus that promises to keep it real and keep it practical.

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The Speakers

Tucker Bartlett
Development Manager
Scientific Properties
Durham, NC

Frank T. Caprio, Esq. [ bio ]
General Treasurer
State of Rhode Island
Providence, RI

Joel D. Cohn, CPA [*]
Managing Principal
Reznick Group P.C .
Baltimore, MD

John H. Cornell, Esq. [*] [ bio ]
Partner
Nixon Peabody LLP
Boston, MA

Mark T. Diachok
Vice President Historic Tax Credit Acquisition
PNC Bank, N.A.
Washington, DC

Mark J. Einstein, CPA (invited)
Managing Principal
Reznick Group P.C.
Bethesda, MD

George J. Fantini, Jr.
Chairman & Principal
Fantini & Gorga
Boston, MA

Aleks Frimershtein, Esq. [*] [ bio ]
Counsel
Nixon Peabody LLP
Los Angeles, CA

Greg Handberg
Vice President, Properties
Artspace Projects, Inc.
Minneapolis, MN

Marc Hirshman
Senior Vice President
Historic and NMTC Investments
US Bancorp Community Development Corporation
St. Louis, MO

Merrill F. Hoopengardner, Esq. [ bio ]
Associate
Nixon Peabody LLP
Washington, DC

Leonard Jurden
Managing Director
Cohen-Esrey Tax Credit Advisors, LLC
Overland Park, KS

Pres Kabacoff
CEO
Historic Restoration, Inc .
New Orleans, LA

Timothy F. Kemper, CPA
Managing Principal
Reznick Group P.C.
Atlanta, GA

Daniel J. Kolodner, Esq. [ bio ]
Associate
Nixon Peabody LLP
Boston, MA

Forrest David Milder, Esq. [ bio ]
Partner
Nixon Peabody LLP
Boston, MA

Donald Nimey
Principal, Real Estate Consulting
Reznick Group P.C.
Bethesda, MD

Paul Norris
Managing Member
Consortium Structured Investments
Charlotte, NC

Marshall Phillips
Senior Manager
Reznick Group P.C.
Charlotte, NC

Andrew Potts, Esq. [*] [ bio ]
Partner
Nixon Peabody LLP
Washington, DC

Albert S. Rex
Director
MacRostie Historic Advisors, LLC
Marlborough, MA

Lance Robbins
Principal
Urban Smart Growth
Hollywood, CA

Claudia Robinson
Senior Vice President
Manager/New Markets Direct Investment
Banc of America Community Development Corporation
Washington, DC

Gary Sachau
Architectural Historian
Technical Preservation Services
National Park Service
Washington, DC

David Schon, Esq. [*] [ bio ]
Partner
Nixon Peabody LLP
Washington, DC

John Tess
Principal
Heritage Consulting Group
Portland, OR

Darren Van't Hof
Vice President
US Bancorp Community Development Corporation
St. Louis, MO

Phillip Wisley, R. A .
Bureau of Historic Preservation
Division of Historical Resources
Florida Department of State
Tallahassee, FL

*Planning Committee

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Agenda

Thursday, February 7, 2008

8:00 AM
Registration and Continental Breakfast

9:00 AM
Conference Welcome and Introduction

9:15 AM
The Basics of Historic Rehabilitation Tax Credits and Syndication

A refresher for the experienced and a primer for newcomers, this session includes the basic IRS and historic preservation requirements.

• A review of Historic Tax Credit basics, including what buildings qualify and the substantial rehabilitation test
• The role of the State Historic Preservation Officer and the National Park Service
• How to calculate the amount of the tax credit - what is and is not a Qualified Rehabilitation Expenditure
• The basics of syndication - why do it and what approaches work best
• Profit motive and other syndication, tax fundamentals
• Putting together the syndication 'dream team': How to select and work with an investor, lawyer, accountant, historic consultant, and other professionals

10:30 AM
Coffee Break

10:45 AM
Working with the National Park Service and the States

Hear from the experts about their strategies to obtain these critical approvals and current hot button issues for the National Park Service (NPS) and State Historic Preservation Officers (SHPOs).

• The NPS Historic Preservation Certification Application Process - Parts 1, 2 and 3
• Working with SHPOs, the NPS, and private consultants
• The Secretary of the Interior's Standards for Rehabilitation: Rules regarding windows, corridor and floor plan configurations, roof top additions

11:45 AM
Understanding Current Deal Structures

Our experienced panel will conduct an in-depth analysis of current deal structures.

• Types of deal structures and their advantages and disadvantages
• 'Ins' and 'Outs' of the most current applications
• Mechanics of master tenant and current leasing structures
• Understanding the fundamentals of the at-risk rules
• Strategies to maximize the credit value of your deal

12:45 PM
Complimentary Luncheon

2:00 PM
The State of the States

A flexible state tax credit program can 'supercharge' historic preservation - but there are risks and traps for the unwary.

• Identifying the states with the most successful and advantageous programs
• Certificate sale vs. capital contribution - what are the pros and cons?
• The types of state Historic Tax Credits available
• General structure and facilitation
• The IRS weighs in - are state Historic Tax Credit deals 'dirty'?

3:00 PM
Coffee Break

3:15 PM
Exit Strategies and More

Will they or won't they? What happens when the compliance period ends? Hear from experts with direct experience and knowledge.

• Exit strategy fundamentals and purpose
• Puts and calls, flips and economic compulsion - what is the state of the art?
• Negative depreciation - mechanics and application
• Understanding liabilities and obligations upon exit
• What if five years is too long - can you get out sooner?

4:15 P.M. Conclusion of Program

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

Friday, February 8, 2008

8:30 AM
Registration and Continental Breakfast

9:00 AM
Conference Welcome and Introduction

9:15 AM
Developer Case Studies

This is our 'All Star' panel. Hear the victories, war stories, and challenges from experienced developers who have completed successful historic projects.

10:15 AM
Coffee Break

10:30 AM
Negotiating the Tax Credit Sale

Watch a LIVE negotiation as the key elements of a term sheet are discussed. This is the ultimate 'how to' panel. Sure to entertain as well as inform.

11:30 AM
Capital Markets Roundtable

Hear about the credit crunch, ripples from the sub-prime debacle, volatility in the real estate markets, increased competition and more. Our panel of experts discusses market conditions, risks, pricing, demand, and the changing marketplace for HTCs.

12:30 P.M. Conclusion of Program

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Instructional Information

This seminar will provide a general overview of the Historic Tax Credit program as well as its rules and practices as these work today. All sessions will be presented by on-site speakers and will include individual presentations, panel discussions, question-and-answer opportunities and/or workshops. When applicable, reference and/or course material will be provided for each registrant. No formal prerequisites or advanced preparations are required other than a working knowledge of real estate development and finance. 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

CLE & CPE

IPED, Inc. 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, Inc. 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 January 28, 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.

$695 General Registration Fee
$595 Non-profit/Government/Education Organization Fee (Proof of tax-exempt status must accompany registration.)
Early Registration Offer: Save $50 if registered by January 14, 2008!

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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 via mail, fax or e-mail to the IPED office. Mailing address: IPED, Inc., 401 Ninth Street, NW, 8th Floor, Washington, DC 20004. Fax: 202-585-8748. E-mail: info@ipedinc.net.

• Cancellations requested on/before January 18, 2008 are eligible for a refund minus a $125 administrative fee.
• Cancellations requested on/before January 27, 2008, are eligible for a refund minus a $225 administrative fee.
• Cancellations requested on/after January 28, 2008, will forfeit the entire registration fee.

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

Conference Site and Hotel Information

Don CeSar Beach Resort
3400 Gulf Blvd.
St. Pete Beach, FL 33706
727-360-1881
www.doncesar.com

Due to overwhelming response to our program, the Don CeSar Beach Resort is currently sold out. IPED recommends the following hotel as an alternative for conference attendee accommodations:

Alternative Hotel Information

Sirata Beach Resort
5300 Gulf Blvd.
St. Pete Beach, Florida 33706
Phone: 727-363-5107
Fax: 727-363-5161
www.sirata.com

Prices range from $124-$229 per night. Please contact the hotel directly to make reservations. The Sirata Beach Resort is approximately one mile from the Don CeSar Beach Resort.

Note: Tampa International Airport (TPA) is the closest airport to the conference site and hotel.

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