Experts to Discuss Innovative Community Development Strategies, Future of the New Markets Tax Credit
San Francisco, CA (PRWEB) December 10, 2013 -- Unless it is extended by Congress, the new markets tax credit (NMTC) will expire on Dec. 31, 2013. A critical source of financing for revitalizing low-income neighborhoods, the NMTC program has leveraged $55 billion in capital in economically distressed communities since it was enacted. Between 2010 and 2012, at a time when communities were losing hundreds of thousands of jobs because of the Great Recession, the NMTC was responsible for the creation of more than 200,000 jobs. To continue building on the program’s successful track record, community development professionals from across the nation will assemble at Novogradac & Company LLP’s New Markets Tax Credit Conference in January to discuss the latest structuring strategies and legislation involving the future of the NMTC.
More than 700 community development professionals are expected to attend the Novogradac New Markets Tax Credit Conference in San Diego, Calif., Jan. 23-24, 2014. Hosted at the San Diego Marriot Marquis, the two-day conference will provide attendees with ample opportunities to network with hundreds of industry leaders, including 2013-2014 round applicants, seasoned CDEs, and active investors, during the multiple session breaks, luncheon and Endless Summer Reception on Thursday evening. The event will also feature expert-led panel conversations covering the latest on emerging trends, current development opportunities and updates on current legislation.
“The NMTC has made significant contributions to our economic recovery within the last year, including the creation of tens of thousands of jobs and leveraging billions of dollars in capital for businesses and low-income communities across the country,” says Owen Gray, CPA, conference chairman and partner in Novogradac & Company LLP’s San Francisco office. “At this pivotal time, it is important for us to join together to increase understanding and awareness of the program and solidify the future of the NMTC so it can continue to spur revitalization in our nation’s most distressed communities.”
The Novogradac New Markets Tax Credit Conference will feature a two-track agenda, allowing attendees to select panels best suited to their interests ranging from hot topics to deal structure strategies. Those attending the “Hot Topics” sessions can expect to learn more about multi-CDE transactions, military base closures and how to combine NMTCs with renewable energy tax credits. The second track of panel sessions will cover technical and strategic principles used to structure NMTC transactions, QALICB underwriting and NMTC compliance issues.
Additionally, two pre-conference workshops will be held in conjunction with the conference on Wednesday, Jan. 22, 2014. Ideal for industry newcomers, NMTC 101: The Basics will provide attendees with an introductory overview of the new markets tax credit program and qualified low-income community investments and businesses. An advanced workshop, NMTC 202: Beyond the Basics – Running the Numbers, is available for those who are interested in learning about financing structures, QALICBs, exit strategies, twinning with state credits and more. Separate registration is required and additional fees apply.
Full details and the complete conference attendee can be found at: http://www.novoco.com/events/conferences/nmtc/2014/san_diego/index.php.
Novogradac & Company LLP’s New Markets Tax Credit Conference is co-hosted by Bank of America Merrill Lynch, Capital One Bank, Chase, Dudley Ventures, Dentons, Husch Blackwell LLP, Nixon Peabody LLP, New Markets Support Company, PNC Bank, Squire Sanders and US Bank. Sponsors include Greenline Ventures, Smith NMTC Associates LLC, Jones Day, Ginsberg Jacobs LLC, United Fund Advisors, Wells Fargo, HWH Group, the Mortgage Office, Bryan Cave LLP, Butler Snow LLP, Enterprise Community Partners, Inc., Locke Lord LLP and Manatt, Phelps & Phillips LLP.
Novogradac & Company LLP was founded in 1989, and has since grown to more than 400 employees and partners in offices in San Francisco and Long Beach, Calif.; Washington, D.C., Atlanta, Ga., Detroit, Mich., Kansas City, Mo., and Seattle, Wash. metro areas; Boston, Mass.; Austin, Texas; Dover, Columbus and Cleveland, Ohio; New York, N.Y.; Detroit, Mich.; St. Louis, Mo., and Portland, Ore. Specialty practice areas include tax, audit and consulting services for tax-credit-assisted multifamily and affordable housing, community revitalization and rehabilitation of historic properties. Other areas of expertise include military base redevelopment, preparation and analysis of market studies and appraisals of multifamily housing investments and renewable energy tax credits.
For more information about Novogradac & Company LLP’s New Markets Tax Credit Conference, please contact Rochelle Truong at (415)356-8062 or email [email protected].
Rochelle Truong, Novogradac & Company LLP, http://www.novoco.com, +1 (415) 356-8000, [email protected]
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