March 30, 2011 - The New York Housing Conference's Young Leadership Council (YLC) hosted an introduction seminar on low income housing tax credits (LIHTC) for over a dozen colleagues at the Settlement Housing Fund offices. Recognizing a need amongst peers for clear delineation of this vital financing vehicle, the LIHTC seminar was designed to bolster and broaden the expertise of young professionals within the affordable housing industry.
The seminar was led off by NYHC CEO Judy Calogero as she outlined the foundations for the tax credit vehicle and stressed its importance as an equity provider for not just affordable housing but specifically for elderly and special needs development projects as well.
Judy Calogero addresses the room
YLC member Andrew Warren, Centerline Capital Group, and YLC Co-chair Chris Herrmann, Enterprise Community Investment, continued the training by walking the attendees through the history of the LIHTC and factors that determine its pricing. They concluded with hypothetical development scenarios and pro forma exercises that explained how tax credits function as equity producers for new construction and rehab projects.
Andrew Warren and Chris Herrmann lead the training