Wednesday, May 12, 2021
As LIHTC asset values have increased across the country, some investors are challenging the rights of nonprofit developers to wholly own their projects at the end of Year 15. These disputes over the Right of First Refusal (ROFR) language of Section 42(i)(7) of the tax code are creating real-life consequences for nonprofit organizations and residents fighting to preserve long-term affordability in these communities.
Listen to the recording to educate yourself about this potential threat to your LIHTC properties:
(Corrected on 5-13-21)
Right of First Refusal in the Housing Credit Program – NHT
Investors Mine For Profits In Affordable Housing, Leaving Thousands Of Tenants At Risk – WBUR
Local Officials And Congressional Leaders Decry Investors Who Put Affordable Housing At Risk - WBUR
Year 15 Dispositions: Navigating the Challenges with Purchase Options and Rights of First Refusal – CHAM Webinar, Sept 2020
10 Red Flags in LIHTC Deals -- David Davenport
Ellen Lurie HoffmanSenior Director of Federal Policy, National Housing Trust
Vice President, Housing, RiseBoro Community Partnership
Robert RozenConsultant to LISC/NEF, NASLEF and Enterprise
Lisa DellerVice President, Asset ManagementNational Equity Fund
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