San Francisco, CA (PRWEB) July 28, 2014
Experts predict increased activity in the historic rehabilitation tax credit (HTC) marketplace as investors adjust to the safe harbor guidance issued by the Internal Revenue Service (IRS) in December 2013. The highly anticipated guidance in Revenue Procedure 2014-12 helped answer many of the questions about acceptable partnership structures raised by the Historic Boardwalk Hall v. Commissioner (HBH) decision in 2012. In the post safe-harbor guidance era, industry stakeholders continue to explore how deal terms, pricing, exit strategies and other factors must be structured to ensure that the guidance’s transaction requirements are met.
To discuss these issues and what lies ahead for the historic preservation community, HTC experts will gather at the Novogradac Historic Tax Credit Conference Sept. 18 and 19 in Chicago, Ill. The two-day conference at the Drake Hotel will feature panels of developers, investors, lenders, attorneys, accountants and other HTC professionals who will discuss the latest news and issues, such as tax reform, safe harbor guidelines and other types of financing for HTC projects.
“Issuance of the safe harbor guidance was an important step in ensuring that the historic tax credit remains an effective resource for revitalizing our nation’s historic structures, but there is still much work to be done,” said Tom Boccia, CPA, conference chair and partner in Novogradac’s Cleveland office. “This conference will bring veterans and new participants to the same table as we work together to shape the next chapter of the HTC industry’s history.”
Attendees will have ample opportunity to network with other HTC professionals, including active developers, tax equity investors, lenders and many other industry professionals and participants during the numerous session breaks and a cocktail reception to be held on Thursday, Sept. 18 from 5 p.m. to 6:30 p.m.
Winners of the 2014 Novogradac Journal of Tax Credits Historic Rehabilitation Awards, which recognize excellence and honor outstanding achievement in rehabilitation developments using the HTC, will be honored at a special ceremony on Thursday, Sept. 18.
Additionally, a pre-conference workshop, HTC 101: The Basics, will be held Wednesday, Sept. 17 to help attendees learn about historic tax credit fundamentals. Pre-conference workshop registration is separate and optional. Additional fees apply.
The Novogradac Historic Tax Credit Conference is co-hosted by BakerHostetler, Dentons, Nixon Peabody and Squire Patton Boggs. Sponsors include globalx, National Trust Community Investment Corporation, The Richman Group Inc., Bank of America Merrill Lynch, Walter Haverfield LLP, Bryan Cave LLP, PNC Real Estate, Polsinelli, Kasper Mortgage Capital LLC, Carlisle Tax Credit Advisors and Heritage Consulting Group.
Conference details and the complete conference agenda can be found at http://www.novoco.com/events/conferences/htc/2014/chicago/index.php.
Novogradac began operations in 1989, and the allied group of Novogradac companies has since grown to more than 500 employees and partners with offices in San Francisco and Long Beach, Calif.; the Washington, D.C., Atlanta, Ga., Detroit, Mich., Kansas City, Mo. and Seattle, Wash. metro areas; St. Louis, Mo., Boston, Mass.; Austin, Texas; Dover, Columbus and Cleveland, Ohio; New York, N.Y.; 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 Historic Tax Credit Conference, please contact Orlene Carpio at (415) 356-8043 or by email at Orlene(dot)Carpio(at)novoco(dot)com