MYLOGO
SB: Year 15 for LIHTC Partnership
Year 15 Issues for a LIHTC Partnership
Warren Sebra
Partner
Novogradac & Company LLP
Warren Sebra is a partner in the Portland, Ore., office of Novogradac & Company LLP. Mr. Sebra has experience in affordable housing and community development, including low-income housing tax credit (LIHTC), new markets tax credit (NMTC) and historic rehabilitation tax credit (HTC) transactions. He has worked extensively on financial statement audits, tax return preparation, final cost certification audits, transaction underwriting, placed-in service applications, LIHTC compliance, NMTC compliance and NMTC allocation applications. Mr. Sebra has also contributed to various publications, including the Novogradac Journal of Tax Credits, Low-Income Housing Tax Credit Handbook and Historic Rehabilitation Handbook. Mr. Sebra is a frequent speaker at industry conferences and seminars on affordable housing and community development industry topics. He received a bachelor’s degree in accounting and a master’s degree in accounting from Brigham Young University. Mr. Sebra is licensed in Oregon and California as a certified public accountant.
Cliff McDaniel
Executive Managing Director
ARA Newmark-National Affordable Housing Group
Cliff McDaniel serves as an executive managing director within the affordable housing group of ARA, A Newmark Company’s Houston office. He has become an expert in the low-income housing tax credit (LIHTC) arena and regularly speaks on panels concerning the valuation of LIHTC properties. Mr. McDaniel’s in-depth knowledge of the qualified contract process (QCP) and right of first refusal (RoFR) process, as well as Year 15 sales options, has allowed him to create unique and creative opportunities for his clients. He maintains good relationships with general partners and limited partners, which has allowed him to help negotiate and resolve contentious issues with parties that have diverging interest. Mr. McDaniel’s clients include Trammell Crow Residential, AIG, AIMCO, Wood Partners, Morrison Grove, Wentwood Capital and Boston Financial, as well numerous local and regional general partners.
Thomas Morton
Partner
Pillsbury Winthrop Shaw Pittman LLP
Tom Morton is a partner in Pillsbury Winthrop Shaw Pittman LLP’s tax practice and is located in the Washington, D.C., office. He has been extensively involved in structuring tax-advantaged equity investment transactions throughout the United States. His work has primarily focused on representing corporate investors in developments qualifying for the low-income housing tax credit (LIHTC) and/or the historic rehabilitation tax credit (HTC), and more recently structured several dispositions of large portfolios of interests in LIHTC properties. Mr. Morton has also served as an arbitrator in resolving disputes between developers and equity investors in LIHTC developments. Mr. Morton’s experience also includes providing federal income tax and financing advice in connection with projects intended to qualify for the energy investment tax credit (ITC) and the production tax credit (PTC) for electricity produced from renewable resources, including advising clients regarding the energy credit/cash grant program. His energy-related work has included providing tax structuring advice in connection with projects combining energy credits with other federal income tax credits and energy credit facilities with tax-exempt involvement. Mr. Morton is also experienced in representing investors in transactions qualifying for the HTC and the new markets tax credit (NMTC). In addition to his tax credit-related investment work, Mr. Morton has represented large corporations, airlines and financial institutions serving as lessors, lessees and lenders in leveraged, operating and synthetic equipment leasing transactions involving aircraft, railcars, computer systems and other equipment.
Melanie Wenk
Senior Vice President/CFO
WNC & Associates Inc.
Melanie R. Wenk, CPA, is senior vice president accounting and finance/chief financial officer and oversees WNC & Associate Inc.’s corporate and partnership accounting group, which is responsible for SEC reporting, new markets tax credit (NMTC) compliance and reporting and oversees the disposition team. Prior to joining WNC in 2003, Ms. Wenk held accounting positions for eight years, and served in the capacity of supervising audits for BDO Seidman LLP, on major accounts, including WNC. Ms. Wenk is a member of the housing credit group of National Association of Home Builders (NAHB). She is also on the Orange County U.S. Bank Advisory Board. She graduated from California Polytechnic State University, Pomona in 1999 with a bachelor’s degree in accounting.