Refinanced & Reborn: Planning for the Year 15 Transition of Your Tax Credit Projects
Date Published: 05/07/2007
Author: Edited by Judy Turnock, ODI
This manual was prepared by New York City LISC for its CDCs but applies generally to all CDCs who have tax credit projects. It presents a general framework to help you formulate a plan to acquire your project at the end of the 15-year tax credit compliance period and preserve its affordability.
You will learn how to consider the legal agreements, project performance, and market forces that will influence your acquisition plan. Working with your consultant, accountant and legal counsel, you can then carefully analyze the details of your project and formulate a purchase offer. This manual is just the starting point to help you navigate key Year 15 issues. Your purchase plan and ultimate offer will depend on your specific project dynamics, which will in turn be influenced by the outcome of your negotiations with your limited partner and any relevant government partners.
Your local LISC office will assist you with questions about general issues and the acquisition process.
Please note: This manual is structured to assist CDCs in becoming educated consumers when they approach the National Equity Fund (NEF) to transition their tax credit projects. If you have partnered with a different syndicator, you must consult your own professionals about the best way to proceed.
Topics: Housing, Organizational & Professional Development
Type: Guidebook