Year 15 for Low-Income Housing Tax Credit Partnerships

As Low-Income Housing Tax Credit (LIHTC) projects approach the end of the 15-year LIHTC compliance period (year 15), owners are faced with a range of options. Navigating these options is important for the future of the property. Partner Elizabeth Harriger moderated our Affordable Housing webinar as Penny Indictor, Esq., Partner at Berman Indictor, LLP, led the discussion exploring the key considerations and strategies involved in planning for and navigating the year 15 transition, including negotiating and drafting relevant documents, effectuating investor exits through purchase of the property or the investor’s interests, and considering a resyndication transaction. Attendees of this McKonly & Asbury Webinar gained insight on the following: An understanding of year 15 options, including purchase options and rights of first refusal. An understanding of developer and investor perspectives regarding year 15 and the underlying tax and business issues. An understanding of capital accounts and exit taxes as they relate to investor exits.