San Francisco, Calif. (PRWEB) March 15, 2013
The recent extension of the New Markets Tax Credit (NMTC) program through 2013 at an annual level of $3.5 billion in tax credit allocation authority is expected to help drive investments in community development this year. In addition, a recent New Markets Tax Credit Economic Report, released by the New Markets Tax Credit Coalition, found that the NMTC has created more than 500,000 jobs and generated $8.3 billion in tax revenue during the last 10 years, which shows how vital the NMTC is in bringing community development to low-income communities.
In light of these developments, Novogradac and Company LLP is excited to announce its annual Spring New Markets Tax Credit Conference will be held June 6 and 7 at the Mandarin Oriental in Washington D.C. The event, scheduled to occur shortly after the Community Development Financial Institutions (CDFI) Fund’s planned April announcement of the next round of NMTC allocation awards, will bring together more than 600 community development professionals and industry experts to discuss how to maximize investments and the myriad community benefits that result. On hand to deliver the keynote address will be Rep. Pat Tiberi, R-Ohio, a member of the tax-writing House Committee on Ways and Means and a key cosponsor of legislation to extend the NMTC.
“As a member of the Ways and Means Committee, Congressman Pat Tiberi has unique insight into some of the most pressing issues of the day such as tax reform and the future of tax expenditures like the NMTC,” said Nicolo Pinoli, CPA, conference chair and partner in Novogradac & Company LLP’s Portland, Ore. office. “In addition to hearing from Rep. Tiberi and a number of other tax and community development experts, attendees will have the opportunity to network and plan for the next waves of NMTC investment.”
Conference panelists, chosen for their expertise and prominence in the industry, will address issues pertinent to both the technical and strategic aspects of NMTC investing. Among the timely topics to be discussed are exit strategies concerning business, legal and tax issues for both the investor and leverage lender; the best practices, pitfalls and costs of getting to closing; an update on the CDFI Bond Guarantee program and how it can be utilized with NMTCs; the benefits of combining federal and state credits; and more. Participants will have ample opportunity to network with colleagues and speakers during the many breaks between sessions and at the reception held Thursday evening. The two-day event is worth 8.5 CPE credits.
For those wanting to learn more, two pre-conference workshops will be presented on June 5: NMTC 101: The Basics and NMTC 201: Compliance. Registration is separate and optional. Additional fees apply.
The Novogradac Spring New Markets Tax Credit Conference is co-hosted by Bank of America Merrill Lynch, Capital One Bank, Chase, Dudley Ventures, Holland & Knight LLP, PNC Bank, Nixon Peabody LLP, SNR Denton, Squire Sanders, US Bank and Wells Fargo. Sponsors include Blank Rome LLP, Bryan Cave LLP, Greenline Ventures LLC, Manatt Phelps & Phillips LLP, Polsinelli Shughart PC, Strategic Development Solutions, Enterprise, Husch Blackwell LLP, Rath Young Pignateli PC, Smith NMTC Associates LLC, Key Community Development Corporation, National Trust Community Investment Corporation, United Fund Advisors, SunTrust Community Capital and Ginsberg Jacobs LLC. Conference details and the complete conference agenda can be found at http://www.novoco.com/events/conferences/nmtc/2013/washington/agenda.php
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 the Novogradac Spring New Markets Tax Credit Conference, contact Cindy Bao at 415.356.7927, or email cindy.bao(at)novocco(dot)com.