Potential Tax Reform Creates LIHTC Equity Market Disruption

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Novogradac 2017 Affordable Housing Conference in San Francisco, May 18-19

Three decades after the birth of the low-income housing tax credit (LIHTC), the most successful affordable housing public-private partnership in history faces an uncertain future.

Lawmakers in Washington are pushing for the biggest overhaul of the federal tax code since the Tax Reform Act of 1986, the sweeping legislation that created the LIHTC. There’s no shortage of demand for LIHTCs, but the uncertainty of tax reform and the proposed lowering of the corporate tax rate have raised serious concerns about tax credit pricing. Many transaction closings are delayed, and some of those that are able to move forward are being closed with significantly less equity.

The Novogradac 2017 Affordable Housing Conference at the Palace Hotel in San Francisco, May 18-19, will offer expert insights on how to navigate the murky waters of financing and developing affordable housing in a pre- and post-tax-reform world. Discussions will include equity marketplace trends emerging in 2017, insurance and risk management for affordable multifamily housing, inclusionary housing and trends in underwriting housing credit developments and determining utility allowances. California State Treasurer John Chiang will deliver the keynote address.

In addition, two pre-conference workshops will be available May 17, LIHTC 101: The Basics and LIHTC 202: Year 15 Overview. Separate registration and fees apply.

“No one can predict exactly what will happen with tax reform, so it’s important to stay informed and prepared,” said Molly O’Dell, CPA, conference co-chairman and partner in Novogradac & Company LLP’s San Francisco office. “That’s where Novogradac conferences come in: We offer our clients and conference attendees the knowledge, services and expertise they need to make smart decisions.”

The Novogradac 2017 Affordable Housing Conference is co-hosted by Dentons. Sponsors include Alden Capital Partners, Candeur Group, CBRE Affordable Housing, Century Housing CMR Risk & Insurance Services Inc., Cox Castle & Nicholson LLP, CREA LLC, Enterprise & Bellwether Enterprise, Hunt Mortgage Group, JLL, Lathrop & Gage LLP, PGIM Real Estate Finance, Pillsbury Winthrop Shaw Pittman, PNC Bank, R4 Capital, RBC Capital Markets, IMPLAN, RightSource Compliance, Spencer Fane, Squire Patton Boggs, Stinson Leonard Street and WNC & Associates Inc.

Conference details and the complete conference agenda can be found at

About Novogradac & Company
Novogradac began operations in 1989 and has since grown to more than 600 employees and partners with offices in San Francisco, San Rafael, Walnut Creek and Long Beach, Calif.; Dover, Columbus and Cleveland, Ohio; St. Louis; Boston; New York; Chicago; Austin and Dallas, Texas; Portland, Ore.; Naples, Fla., Raleigh, N.C.; Toms River and Iselin, N.J.; and the greater metropolitan areas of Philadelphia; Washington, D.C.; Atlanta; Detroit; Kansas City, Mo.; and Seattle.

Specialty practice areas include tax, audit and consulting services for tax-credit-assisted affordable housing, community revitalization, rehabilitation of historic properties and renewable energy. Other areas of expertise include business valuation, preparation and analysis of market studies and appraisals of multifamily housing investments and renewable energy tax credits.

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