Date: Thursday, September 19

Time: 10:15 AM – 11:45 AM

Room: Parlor C

Track: Financial Management, Property and Asset Management


  • Fritz Duncan, CPA, Shareholder, Jones and Roth CPAs and Business Advisors
  • Kimberly Taylor, Senior Asset Management Project Manager, Housing Development Center


Learn about the importance of a LIHTC property’s first year from the perspectives of both a CPA and Tax Credit Compliance professional. Many affordable housing owners are unclear about the financial implications of a delayed lease-up or the potential financial award if they exceed the expected lease up goal. In this lively and analysis-heavy discussion, you’ll learn the value of knowing the required credits for a LIHTC project’s first year, how those credits are determined, and tips on meeting or exceeding that requirement. Case studies and analysis charts will be presented as well.


The initial lease up and first year credit period for a Low Income Housing Tax Credit property is one of the most important years in a project’s timeline. It prepares the property for success from the beginning with all partners involved: the residents, the owner, the State Agency, and the Investor. Join Kimberly Taylor, HCCP, and Fritz Duncan, CPA, as they present together the importance of Tax Credit delivery during a property lease-up. You’ll learn the importance of 1) knowing the required credits in a LIHTC project’s first credit year & understanding how that total was determined, 2) meeting/exceeding the lease up goal to ensure the required credit/unit delivery, with, in some cases, a financial award (upward adjuster) for exceeding the goal, and 3) working with the property management team on meeting those lease up goals. The session will also cover a brief history of the LIHTC, the structure of a deal, equity vs. credits, transition from development to lease up, important points for first year benchmarks, like details on the cost certification and Form 8609, and a review of two lease-up case studies, both new construction and acquisition/rehab. A sample Credit Delivery Analysis chart will be presented as well. Both Kimberly and Fritz will also each provide examples of the biggest mistakes they see with their clients’ projects and how those issues can be avoided. Join in on this important discussion that will assist you and the partners in your next LIHTC deal to have a successful first year!