1200 G Street, N.W., Washington, DC 20005-6703 low-income housing Tax Credit and mixed Finance Compliance Training and Certification Flatten your Tax Credit learning Curve Learn the new 2010 method for calculating income limits! Winter / Spring 2010 low-income housing Tax Credit and mixed Finance Compliance Training and Certification Training the affordable housing industry WWW.QUADEL.COM Why you Can’t Afford to miss Our Tax Credit Training 1 We all know that noncompliance can cause a loss of tax credits. Making the investment in training ensures that you and your staff have the tools needed to make maintaining compliance less challenging. 2 More and more state monitoring agencies are requiring property owners and managers to attend tax credit compliance training. These agencies recognize that having well-trained staff helps protect Did you know? credits and preserve the mission of providing affordable housing. 3 Our training can help. We provide comprehensive, clear training presented by expert trainers. We train over 5,000 affordable The IRS 8823 Audit Guide housing professionals annually, and our knowledge has been instructs state agencies not built through over 30 years of experience in the industry. We’re to submit a Form 8823 when committed to making a difference in affordable housing — and an owner finds and corrects an providing quality training is just one way we show that commitment. incidence of noncompliance prior to receiving notice from the state agency of a monitoring review. Quadel’s Tax Credit Training This is another reason why Regularly Scheduled Courses. Our courses are offered across the country. it’s beneficial to have a good • Tax Credit Compliance Systems (TaCCs) system of Quality Control in • Managing LIHTC Compliance with CDBG & HOME Funds place at your tax credit property. • Managing LIHTC Compliance in Section 8, 236, 202 & 811 PRAC Properties Special Sessions. Bring our training directly to your organization, Having well-trained , conveniently saving travel costs, and minimizing time out of the office. Offerings include all of our regularly scheduled trainings, plus — knowledgeable staff • Introduction to the LIHTC Program: Determining Eligible Basis and the Cost Certification Process on-site greatly improves • Summary of IRS Form 8823 Guide — Revised in 2009 • Managing LIHTC Compliance with the Public Housing Program Go to www.quadel.com for more information on Special Sessions, or all your Quality Control efforts. contact our training coordinator at 800.987.2581 or email@example.com to schedule a Special Session. Quadel offers a range of tax credit compliance services. Please contact Annabelle at 800.987.2581 or firstname.lastname@example.org, or click www.quadel.com for more information on how to keep your affordable housing tax credit investment compliant. TaCCs Tax Credit Compliance Training and Certification TaCCs Tax Credit Compliance Training TaCCs AGENDA and Certification IRS Audit Guide Material Included You can’t afford to miss TaCCs training. Too much is at stake to risk noncompliance. Attend our TaCCs D Ay O n e D Ay T W O training and get the tools you and 8:30 AM 8:30 AM your staff need to maintain tax Overview Unit Eligibility credit compliance. Suitable for Occupancy, LIHTC Introduction Open to General Public What is a Tax Credit? • Learn the new 2010 method for calculating income limits Minimum Set-aside Maximum Allowable Rent Definition, Options & Calculations Definition, Calculation, Deep Rent Skew & Housing Choice & Project Based Vouchers, • Protect your investment Applicable Fraction Rent Floor through compliance Unit & Square Foot Fractions, Actual Applicable Fraction, 2/3 Rule Utility Allowances • Obtain the latest IRS and First Year Leasing Objectives Charges in Addition to Rent HUD guidance Optional Services, One-Time Fees Applicant Eligibility • Housing Recovery Act of 2008 Income Eligibility, Household Size Annual Recertification update included Additional Eligibility Criteria 140% Rule, Unit Eligibility, Changes in Household Composition, Recertification Full Time Students, Resident Managers, • Mixed Finance Compliance optional Schedule, Recertification Activities, Housing Choice Voucher Holders Recertification Waivers module includes Sections 3, 236, Applications, Waiting Lists & 202, 811 PRAC Properties, HOME Resident Selection Plans Available Unit Rule Definition, AUR at Deep Rent Skew and CDBG Properties 12:30 PM Properties, One for All Approach, Treatment of Ineligible Families • Learn from expert trainers Lunch (on your own) Vacant Unit Rule Annual Income • Receive our acclaimed course Definition, Demonstrating Definition, Computation book, including sample forms Reasonable Effort Income Inclusions & Exclusions Sporadic, Seasonal, Self-Employment & Unit Transfers • Practice using real-world Within the Same Building, Dependent Income; Absent & Confined examples and case studies Family Members; Scholarships & To a Different Building Grants; Alimony & Child Support; • Earn a nationally recognized Lump-Sum Payments 12:30 PM certification Lunch (on your own) Assets Definition, Calculation, Cash Value, TaCCs Certification Exam Imputed Income 4:30 PM Who Should Attend? Types of Assets Trusts, Annuities, Lump Sums, Training Concludes Retirement Funds Anyone responsible for completing or overseeing the LIHTC compliance Assets Disposed of for Less than process including — Fair Market Value D Ay T h r e e (optional) Mixed Finance Module Verification Requirements • Site managers Third-Party Verifications, Review of Documents, Self-Certification, • Regional property managers Verification Timing • Asset managers Initial Certification & Leasing Acquisition/Rehab Credits, Completing • Owners, developers, syndicators and the TIC, Leasing Requirements investors wanting a clear understanding 5:00 PM of requirements that tax credits add Day One Concludes to property management • State & local agency staff WWW.QUADEL.COM Scheduled 2010 LIHTC Workshops: Locations & Dates All Dates Include Mixed Finance Option Columbus, OH New York, NY Philadelphia, PA Portland, OR JAN 19-21 MAR 16-18 APR 20-22 MAY 18-20 Four Points Sheraton AMA Executive Hilton Philadelphia City Sheraton Portland Columbus Ohio Airport Conference Center Avenue Airport Hotel 614.475.8383 212.903.8060 215.879.4000 503.281.2500 Washington, D.C Sacramento, CA Boston, MA Greensboro, NC FEB 9-11 APR 13-15 MAY 11-13 JUN 15-17 Washington Plaza Hotel Marriott Courtyard Crowne Plaza Sheraton Greensboro 202.842.1300 Sacramento Midtown Boston-Natick Hotel at Four Seasons 916.455.6800 508.653.8800 336.292.9161 The tax credit class was extremely informative. The instructor was knowledgeable and made it very easy to learn. ALIsIA ChObRA, brackenhoff Management Control Workshop Options OPTION a b c d e TaCCs Workshop and Examination ✔ ✔ TaCCs Workshop Only (no exam) ✔ ✔ Mixed Finance: Section 8, 236, 202 & 811 ✔ ✔ ✔ HOME and CDBG Funding Number of Days 3 2 2 ½ 1 ½ 1 Regular Registration $815 $595 $725 $500 $325 A late registration fee of $100 will be assessed for enrollments and payments received Late Registration within seven days of the workshop. Select the column that includes your choice of workshops for online and written registrations. TRAINING@QUADEL.COM Three easy Ways to register 1 Register and pay online by visiting us on the web at www.quadel.com (Click on: “Training”). 2 Fax this form and your payment information to 202.729.6211. 3 Mail this form along with your payment information to Quadel at the address below. IMPORTANT: Payment for this workshop must be received no later than seven days prior to the start of the workshop. A $100 late fee is added to all payments received in our office within seven days of the workshop. Additionally, balances must be paid in full for admittance into the workshop. r e g i S T r AT i O n F O r m 1 2 0 0 G STREET, N . W. 2010 LIHTC Compliance Workshops WAS H I N G T O N , DC 2 0 0 0 5 -6 7 0 3 A check payable to Quadel Consulting Corporation for $ ______________ P HONE : 800.987.2581 E M A IL: email@example.com for ____________ registrations is enclosed. Please identify workshop www.quadel.com location, date and participants on your check. Charge my Visa MasterCard AMEX AMOUNT $ C A R D # EXP. C A R D H O L D ER’ S N AME ( PLEASE PRINT) C A R D H O L D ER’ S BILLIN G AD DRESS C A R D H O L D ER’ S S IG N ATURE WO R k S H OP LO CATIO N DAT E PLEASE PRINT NAME OF EACH PARTICIPANT AND DESIGNATE THE APPROPRIATE OPTION: NAME O PT I O N NAME O PT I O N NAME O PT I O N C O M PA N Y ADDRESS CITY STAT E ZI P PHONE FAX E M A I L ( REQ UIR ED ) YES, SIGN ME UP FOR QUADEL MULTIFAMILY EMAIL NEWSCASTS SPECIAL ACCOMMODATIONS R E G IO N AL PRO PERTY MAN AG ER M A N AG E MEN T CO MPAN Y PHONE FAX Confirmation of registration will be sent to the email address or fax number provided above. PHA’s should note that this training program does not apply to the conventional Public Housing, Housing Choice Voucher and Moderate Rehabilitation programs. 1-800-987-2581 lihTC Tax Credit and mixed Finance Compliance Training Our compliance training for LIHTC properties with multiple subsidies explains how to handle the challenge of conflicting program rules. SpeCiAl SeSSiOn* MIXED FINANCE MODULE AGENDA Managing LIHTC Compliance with the Public Housing Program D Ay T h r e e (optional) Managing LIHTC Managing LIHTC How can I ensure that I continue to lease the correct number of Public Compliance with Section 8, Compliance with HOME Housing units while maintaining tax Section 236, Section 202 and CDBG Properties credit compliance? & 811 PRAC Properties How many units in each tax credit Do tenants have to qualify for both the building must be Low HOME units? Public Housing & the LIHTC program in How do we handle existing HUD How many High HOME units? Has the order to live at the property? residents living at a tax credit property? applicable fraction been maintained? How do we handle income disallowances When do Tenant Income Certifications What are my HOME compliance and minimum rent? need to be completed at acquisition/ rehab properties? and monitoring requirements? How do occupancy standards affect How do they coincide with the tax our property? How do we resolve conflicts between credit requirements? HUD & IRS program rules? Where do we go for guidance? Where do I look to find my CDBG regulatory requirements? How do I AGENDA (Half-day to full-day customized program apply them to the tax credit property? provided on request) 8:30 AM Program Descriptions & Introduction Program Descriptions & Introduction 1 :3 0 P M Mapping a Mixed-Finance Property Eligibility Requirements Program Descriptions & Introduction Number & Placement of Units, Fixed or Income Limits, Initial Certification, Floating, Subsidy Layering Requirements Income Calculation & Verifications, Eligibility Requirements Student Eligibility, Waiting List Income Limits, 40% & 50% Rule, Income Eligibility Requirements Requirements, Occupancy Standards, Calculation & Verification, Student Family Size, Income Limits, Calculations Fair Housing & Section 504 Eligibility, Fair Housing & Section 504 & Verifications, Students, Fair Housing & Section 504, Occupancy Standards, Maximum Allowable Rent LIHTC & HOME Program Differences Waiting Lists & Screening Applicable Rules, Additional Charges Maximum Allowable Rent, Housing Choice Vouchers, Project Based Maximum Allowable Rent Ongoing Compliance Vouchers, Project Based Section 8, Rent Calculations, PHA Minimum Rent, Recertifications, Transfers, Vacant Unit Utility Allowances, Rent Increases & Flat Rents, Utility Allowances Rule, Reporting Requirements Decreases & Rent Floors Ongoing Compliance Decoupled 236 Projects Leasing Requirements & Leasing, Recertifications, Physical Ongoing Compliance Inspections, Available Unit Rule, Refinancing Section 202 Re-certifications, Fixed & Floating Units, Community Service Requirement Direct Loans Transfers, Reporting Requirements Private Activity Bonds Other Issues HOME & Private Activity Bonds Minimum Set-Aside, Maximum Allowable Transfer of Ownership, CDBG Program: Eligibility & Income Rent, Available Unit Rule, Vacant Units, Management Reminders Limits, Other Requirements Construction Financing 12:30 PM 5 :0 0 P M Overview of Using HOME & CDBG Funds Lunch (on your own) Training Concludes * The Public Housing Module is currently offered only as a special session on request. For information on how to schedule a Public Housing training, contact our training coordinator at 800.987.2581 or firstname.lastname@example.org.
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