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  • New Initiatives to Deter Year 15 Right of First Refusal Disputes

New Initiatives to Deter Year 15 Right of First Refusal Disputes

  • May 12, 2021
  • 1:00 PM
  • Webinar
  • 151

Registration


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New Initiatives to Deter Year 15 Right of First Refusal Disputes


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.

Educate yourself about this potential threat to your LIHTC properties.

  • Ellen Lurie Hoffman and Bobby Rozen will explain the issues and warning signs, and update you on the latest ROFR disputes and litigation. 
  • Hear Emily Kurtz’s story about RiseBoro Community Partnership’s litigation concerning its 34-unit building called Stockholm Manor, in Bushwick NY, that is being considered by the U.S. Court of Appeals for the Second Circuit.
  • Learn about the National Housing Trust’s emerging multifaceted strategy to deter YR15 ROFR disputes -- proposed federal legislation; a new state HFA policy and practices toolkit; and ongoing stakeholder education.

WHEN: 


Wednesday, May 12, 2021
1:00 PM to 2:15 PM EDT

FREE for all Registrants


Presenters:


Ellen Lurie Hoffman
Senior Director of Federal Policy, National Housing Trust


Emily Kurtz
Vice President, Housing, RiseBoro Community Partnership 



Robert Rozen
Consultant to LISC/NEF, NASLEF and Enterprise

Moderator:


Lisa Deller
Vice President, Asset Management
National Equity Fund

Questions? Email us at info@chamonline.org.



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