Resyndicating An Existing LIHTC Project

Resyndicating an Existing LIHTC Project

Owners are resyndicating older LIHTC projects.  But when they do, what rules apply?  Is there a new credit and compliance period?  What income limits apply, and how much rent may the owner charge?  And what happens with the existing residents?  What does the owner do with a resident who originally qualified for the LIHTC program but is now over-income?  Do the rules differ for the oldest of LIHTC projects where the original owner never agreed to an extended use period?  Find out the answers to these and other questions by participating in this 2-hour interactive seminar on resyndicating existing LIHTC projects. 

The webinar is a 2-hour discussion of the rules that apply when an owner resyndicates an existing LIHTC project.  Bring your questions about a project you are resyndicating to class. 

Resyndicating an Existing LIHTC Project is an intermediate level course.  It is assumed that anyone registering already has a working knowledge of the LIHTC program.    

Tuesday, September 24, 2013 12:00 – 2:00 PM, Eastern Time

Webinar Agenda

Part One – IRS Guidance on Resyndication

– Chapter Four of the 8823 Audit Guide

– IRS Guidance on Resyndicating an LIHTC Project

– Possible Changes to IRS Guidance

– Resyndication by the Original Owner

– Resyndication by a New Owner

Part Two – Planning for Resyndication

– Plan to Review the Existing Resident Files

– Plan to Confer with the HFA and the New Syndicator

– Continue to Follow All LIHTC Compliance Rules

– Plan to Meet Any Laws Governing Resident Relocation

– Plan to Implement Any Required Rent Changes

– Plan to Develop Tracking Mechanism if Relocating Residents

– Plan to Meet Any Local Laws

– Plan to Meet With the Residents

Part Three – Rents and Income Limits

– Remember Those Hold Harmless Rules Allowed Under HERA

– Possible Rent Decreases and The Rent Floor

Part Four – Reviewing the Resident Files

– What Makes a Good TIC?

– The Student Rule

– Household Composition

    Part 5 – Wrap Up with Questions

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