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Year 15 Dispositions: Navigating the Challenges with Purchase Options and Rights of First Refusal

  • September 23, 2020
  • Webinar

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Year 15 Dispositions: Navigating the Challenges with Purchase Options and Rights of First 

The initial 15-year compliance period is expiring for thousands of affordable Housing Credit units annually. Subsequently, the volume of dispositions is growing each year and it is critical that Asset Managers understand specific issues and nuances with these transactions. Asset Managers are an integral part of the disposition negotiation, working with stakeholders with a focus on extended use while ensuring the integrity of the Housing Credit Program long term.

This webinar focused on the real-world challenges to the protection of affordable housing from non-mission investors including: Right of First Refusal, Purchase Options, Valuation and Aggregators. Attendees learned about of the mechanics of the Right of First Refusal, Purchase Options, and Exit Taxes as well as changes in ownership structure and how it impacts a disposition.

After presenting the 10 Red Flags in LIHTC Deals, we asked the audience their takeaways from the session. Only 18% felt that their properties were going to be okay. Three-quarters of the participants said they needed to know their documents better, 41% said they see red flags they need to pay attention to, and 44% said they are going to find out more about their current investors.

Need a good grounding in Year 15 dispositions? Check out the Enterprise webinar Year 15: Transition Strategies for Expiring LIHTC Properties.

Webinar Slides

Report on Year 15 Transfer Disputes - WSHFC

Refusing the Right of First Refusal - Shelterforce

Click Here for the Recording


Moderator:


Greg Griffin
VP, Asset Resolution & Dispositions
Enterprise Community Asset Management, Inc.

Presenters:


David Davenport
Shareholder and Attorney
Winthrop & Weinstine



Candida Felix
Senior Director, Technical & Development Accounting
Enterprise Community Asset Management, Inc.




Kim Loveall Price
VP of Community Development, Transforming Age
Executive Director, Downtown Action to Save Housing


Questions? Email us at info@chamonline.org.


This webinar is free thanks to our sponsors!


   

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