SAN FRANCISCO (PRWEB) December 07, 2014
The Community Development Financial Institutions (CDFI) Fund received 263 applications from community development entities requesting a combined $19.9 billion in allocation authority under the 2014 round of the New Markets Tax Credit (NMTC) program. As much as $5 billion in NMTC allocation authority will be available in the next round of competition, subject to congressional authorization and extension of the program.
To prepare for the next NMTC allocation round, community development practitioners from around the country will gather to discuss the latest issues facing the NMTC community at the annual Novogradac New Markets Tax Credit Conference, Jan. 22-23 at the Hilton San Diego Bayfront in San Diego. The two-day conference will feature panels of experts on industry news and topics, such as the state of the equity market, twinning NMTCs with renewable energy tax credits and measuring community impact vs. economic impact. The conference will also offer a panel on how qualified active low-income community businesses (QALICBs) can get a head start on securing allocation for their projects in anticipation of the NMTC allocation authority expected to be awarded by the CDFI Fund in spring 2015.
“With the new markets tax credit industry becoming increasingly competitive, the players who rise to the top will be the ones who stay abreast of the latest issues and who form key relationships with other well-informed partners,” said Owen Gray, CPA, conference chairman and partner in Novogradac & Company LLP’s San Francisco office. “I invite my industry colleagues to join me in San Diego, where we’ll address the changes and opportunities on the horizon for the NMTC program.”
Attendees can interact with hundreds of community development practitioners, including active tax equity investors, project developers, lenders and many other industry participants during the numerous networking breaks and a harbor-side cocktail reception Thursday, Jan. 22, from 5 p.m. to 7 p.m.
Additionally, two pre-conference workshops, NMTC 101: The Basics and Advanced NMTC Concepts will be held Wednesday, Jan. 21, to complement attendees’ conference experience. Pre-conference workshop registration is separate and optional. Additional fees apply.
The Novogradac New Markets Tax Credit Conference is co-hosted by Bank of America Merrill Lynch, Capital One Bank, Chase, Dentons, Husch Blackwell, Nixon Peabody, PNC, Squire Patton Boggs and U.S. Bank. Sponsors are Enterprise, Ginsberg Jacobs LLC, Perkins Coie, Stinson Leonard Street, Wells Fargo, Dudley Ventures, Holland & Knight, Smith NMTC Associates LLC, Greenline Ventures and Twain Financial Partners.
Conference details and the complete conference agenda can be found at http://www.novoco.com/events/conferences/nmtc/2015/san_diego/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 New Markets Tax Credit Conference, please contact Orlene Carpio at (415) 356-8043 or by email at Orlene(dot)Carpio(at)novoco(dot)com.