Partnership Agreement Essentials for Tax Credit Projects - A Seasoned Asset Manager's Perspective
1 hour 30 minutes
About the Training
What exactly is the purpose of a limited partnership agreement (LPA) in a partnership that uses Low-Income Housing Tax Credit (LIHTC) equity to develop affordable rental housing? More importantly, what are the essential LPA terms, conditions, obligations, covenants and responsibilities that you REALLY must understand as a stakeholder in a tax credit partnership? If you work in an organization that develops, operates or invests in LIHTC multifamily housing and would benefit from a seasoned expert's’ perspective on the LPA or simply have limited experience navigating this essential document, this training is for you.
Join seasoned tax credit asset manager Vinnie Viola for a 90-minute training that covers the essentials of LIHTC partnership agreements. He'll review the key frequently referenced terms and sections of a typical LPA. Attendees may submit questions for discussion and participate in on-screen polls.
·Purpose of Limited Partnership Agreement
·Partnership Formation & Structure
·Ancillary Legal Agreements
·What You REALLY Need To Understand in the LPA
·Projected Tax Credit Amount & Equity Adjusters
·Rights, Powers & Obligations of the GP
·GP Limitation on Authority
·Cash Waterfall and Distributions
·Lifecycle Reporting Obligations
·LPA Exhibit - LIHTC Financial Model
·Tips for Successfully Managing a LIHTC Partnership More Details