Flatten Your Tax Credit Learning Curve. Low-Income Housing Tax Credit and Mixed Finance Compliance Training and Certification

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1 1200 G Street, N.W., Washington, DC Low-Income Housing Tax Credit and Mixed Finance Compliance Training and Certification Flatten Your Tax Credit Learning Curve Learn the new 2009 method for calculating income limits! Summer / Fall 2009 Low-Income Housing Tax Credit and Mixed Finance Compliance Training and Certification Training the affordable housing industry

2 Why You Can t Afford to Miss Our Tax Credit Training Did you know? The IRS 8823 Audit Guide instructs state agencies not to submit a Form 8823 when an owner finds and corrects an incidence of noncompliance prior to receiving notice from the state agency of a monitoring review. This is another reason why it s beneficial to have a good system of Quality Control in place at your tax credit property. Having well-trained, knowledgeable staff on-site greatly improves all your Quality Control efforts We all know that noncompliance can cause a loss of tax credits. Making the investment in training ensures that you and your staff have the tools needed to make maintaining compliance less challenging. More and more state monitoring agencies are requiring property owners and managers to attend tax credit compliance training. These agencies recognize that having well-trained staff helps protect credits and preserve the mission of providing affordable housing. Our training can help. We provide comprehensive, clear training presented by expert trainers. We train over 5,000 affordable housing professionals annually, and our knowledge has been built through over 30 years of experience in the industry. We re committed to making a difference in affordable housing and providing quality training is just one way we show that commitment. Quadel s Tax Credit Training Regularly Scheduled Courses. Our courses are offered across the country. Tax Credit Compliance Systems (TaCCs) Managing LIHTC Compliance with CDBG & HOME Funds Managing LIHTC Compliance in Section 8, 236, 202 & 811 PRAC Properties Special Sessions. Bring our training directly to your organization, conveniently saving travel costs, and minimizing time out of the office. Offerings include all of our regularly scheduled trainings, plus Introduction to the LIHTC Program: Determining Eligible Basis and the Cost Certification Process Summary of IRS Form 8823 Guide Managing LIHTC Compliance with the Public Housing Program Go to for more information on Special Sessions, or contact our training coordinator at or training@quadel.com to schedule a Special Session. Quadel offers a range of tax credit compliance services. Please contact Annabelle at or lihtc@quadel.com, or click for more information on how to keep your affordable housing tax credit investment compliant.

3 TaCCs Tax Credit Compliance Training and Certification TaCCs Tax Credit Compliance Training and Certification TaCCs AGENDA IRS Audit Guide Material Included You can t afford to miss TaCCs training. Too much is at stake to risk noncompliance. Attend our TaCCs training and get the tools you and your staff need to maintain tax credit compliance. Learn the new 2009 method for calculating income limits Protect your investment through compliance Obtain the latest IRS and HUD guidance Housing Recovery Act of 2008 update included Mixed Finance Compliance optional module includes Sections 3, 236, 202, 811 PRAC Properties, HOME and CDBG Properties Learn from expert trainers Receive our acclaimed course book, including sample forms Practice using real-world examples and case studies Earn a nationally recognized certification Who Should Attend? Anyone responsible for completing or overseeing the LIHTC compliance process including Site managers Regional property managers Asset managers Owners, developers, syndicators and investors wanting a clear understanding of requirements that tax credits add to property management State & local agency staff Day One 8:30 AM Overview LIHTC Introduction What is a Tax Credit? Minimum Set-aside Definition, Options & Calculations Applicable Fraction Unit & Square Foot Fractions, Actual Applicable Fraction, 2/3 Rule First Year Leasing Objectives Applicant Eligibility Income Eligibility, Household Size Additional Eligibility Criteria Full Time Students, Resident Managers, Housing Choice Voucher Holders Applications, Waiting Lists & Resident Selection Plans 12:30 PM Lunch (on your own) Annual Income Definition, Computation Income Inclusions & Exclusions Sporadic, Seasonal, Self-Employment & Dependent Income; Absent & Confined Family Members; Scholarships & Grants; Alimony & Child Support; Lump-Sum Payments Assets Definition, Calculation, Cash Value, Imputed Income Types of Assets Trusts, Annuities, Lump Sums, Retirement Funds Assets Disposed of for Less than Fair Market Value Verification Requirements Third-Party Verifications, Review of Documents, Self-Certification, Verification Timing Initial Certification & Leasing Acquisition/Rehab Credits, Completing the TIC, Leasing Requirements 5:00 PM Day One Concludes Day Two 8:30 AM Unit Eligibility Suitable for Occupancy, Open to General Public Maximum Allowable Rent Definition, Calculation, Deep Rent Skew & Housing Choice & Project Based Vouchers, Rent Floor Utility Allowances Charges in Addition to Rent Optional Services, One-Time Fees Annual Recertification 140% Rule, Unit Eligibility, Changes in Household Composition, Recertification Schedule, Recertification Activities, Recertification Waivers Available Unit Rule Definition, AUR at Deep Rent Skew Properties, One for All Approach, Treatment of Ineligible Families Vacant Unit Rule Definition, Demonstrating Reasonable Effort Unit Transfers Within the Same Building, To a Different Building 12:30 PM Lunch (on your own) TaCCs Certification Exam 4:30 PM Training Concludes Day Three (optional) Mixed Finance Module

4 LIHTC Tax Credit and Mixed Finance Compliance Training Our compliance training for LIHTC properties with multiple subsidies explains how to handle the challenge of conflicting program rules. MIXED FINANCE Module AGENDA Day Three (optional) Managing LIHTC Compliance with Section 8, Section 236, Section 202 & 811 PRAC Properties How do we handle existing HUD residents living at a tax credit property? When do Tenant Income Certifications need to be completed at acquisition/ rehab properties? How do we resolve conflicts between HUD & IRS program rules? Where do we go for guidance? 8:30 am Program Descriptions & Introduction Eligibility Requirements Income Limits, Initial Certification, Income Calculation & Verifications, Student Eligibility, Waiting List Requirements, Occupancy Standards, Fair Housing & Section 504 Maximum Allowable Rent Applicable Rules, Additional Charges Ongoing Compliance Recertifications, Transfers, Vacant Unit Rule, Reporting Requirements Decoupled 236 Projects Refinancing Section 202 Direct Loans Other Issues: Transfer of Ownership, Management Reminders 12:30 pm Lunch (on your own) Managing LIHTC Compliance with HOME and CDBG Properties How many units in each tax credit building must be Low HOME units? How many High HOME units? Has the applicable fraction been maintained? What are my HOME compliance and monitoring requirements? How do they coincide with the tax credit requirements? Where do I look to find my CDBG regulatory requirements? How do I apply them to the tax credit property? 1:30 pm Program Descriptions & Introduction Eligibility Requirements Income Limits, 40% & 50% Rule, Income Calculation & Verification, Student Eligibility, Fair Housing & Section 504 LIHTC & HOME Program Differences: Maximum Allowable Rent, Housing Choice Vouchers, Project Based Vouchers, Project Based Section 8, Utility Allowances, Rent Increases & Decreases & Rent Floors Leasing Requirements & Ongoing Compliance Re-certifications, Fixed & Floating Units, Transfers, Reporting Requirements HOME & Private Activity Bonds CDBG Program: Eligibility & Income Limits, Other Requirements 5:00 pm Training Concludes Special Session* Managing LIHTC Compliance with the Public Housing Program How can I ensure that I continue to lease the correct number of Public Housing units while maintaining tax credit compliance? Do tenants have to qualify for both the Public Housing & the LIHTC program in order to live at the property? How do we handle income disallowances and minimum rent? How do occupancy standards affect our property? Agenda (Half-day to full-day customized program provided on request) Program Descriptions & Introduction Mapping a Mixed-Finance Property Number & Placement of Units, Fixed or Floating, Subsidy Layering Requirements Eligibility Requirements Family Size, Income Limits, Calculations & Verifications, Students, Fair Housing & Section 504, Occupancy Standards, Waiting Lists & Screening Maximum Allowable Rent Rent Calculations, PHA Minimum Rent, Flat Rents, Utility Allowances Ongoing Compliance Leasing, Recertifications, Physical Inspections, Available Unit Rule, Community Service Requirement Private Activity Bonds Minimum Set-Aside, Maximum Allowable Rent, Available Unit Rule, Vacant Units, Construction Financing Overview of Using HOME & CDBG Funds * The Public Housing Module is currently offered only as a special session on request. For information on how to schedule a Public Housing training, contact our training coordinator at or training@quadel.com.

5 Scheduled 2009 LIHTC Workshops: Locations & Dates All Dates Include Mixed Finance Option Chicago, IL July AMA Conference Center New York, NY July Downtown Conference Center Baltimore, MD Aug 4-6 St. Paul Plaza Conference Center Pittsburgh, PA Aug Sheraton Station Square Richmond, VA Aug Sheraton Richmond West Indianapolis, IN Sep Sheraton Hotel & Suites Southfield, MI Sept Weston Southfield Philadelphia, PA Oct Crown Plaza City Avenue Syracuse, NY Nov 3-5 Sheraton Syracuse University Hotel New York, NY Nov 3-5 Downtown Conference Center Los Angeles, CA Dec 8-10 Hyatt El Segundo Hosted Workshop For hosted workshops, you must register directly with the Host Agency. Bloomington, MN Sept Hosted by Minnesota Housing Association The tax credit class was extremely informative. The instructor was knowledgeable and made it very easy to learn. Alisia Chobra, Brackenhoff Management Control Workshop Options OPTION a b c d e TaCCs Workshop and Examination TaCCs Workshop Only (no exam) Mixed Finance: Section 8, 236, 202 & 811 Home and CDBG Funding Number of Days ½ 1 ½ 1 Regular Registration $815 $595 $725 $500 $325 Late Registration A late registration fee of $100 will be assessed for enrollments and payments received within seven days of the workshop. Select the column that includes your choice of workshops for online and written registrations. TRAINING@QUADEL.COM

6 Three Easy Ways to Register Register and pay online by visiting us on the web at (Click on: Training & Conferences ). Fax this form and your payment information to Mail this form along with your payment information to Quadel at the address below. IMPORTANT: Payment for this workshop must be received no later than seven days prior to the start of the workshop. A $100 late fee is added to all payments received in our office within seven days of the workshop. Additionally, balances must be paid in full for admittance into the workshop. Registration Form 2009 LIHTC Compliance Workshops A check payable to Quadel Consulting Corporation for $ for registrations is enclosed. Please identify workshop location, date and participants on your check G Street, N.W. Washington, DC phone: training@quadel.com Charge my Visa MasterCard AMEX Amount $ Card # Exp. cardholder s name (please print) cardholder s billing address cardholder s Signature workshop location date Please print name of each participant and designate the appropriate option: name name name option option option company Address City State Zip phone Fax (Required) yes, sign me up for quadel multifamily newscasts Special Accommodations regional property manager management company phone Fax Confirmation of registration will be sent to the address or fax number provided above. PHA s should note that this training program does not apply to the conventional Public Housing, Housing Choice Voucher and Moderate Rehabilitation programs