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SB: LIHTC Eligible Basis Issues II
Deep Dive: LIHTC Eligible Basis Issues Part II
Eric Barnett
Partner
Novogradac & Company LLP
Eric Barnett is a partner in the Walnut Creek, Calif., office of Novogradac & Company LLP, where he specializes in auditing financial statements and preparation of tax returns for numerous entities, including affordable housing organizations, commercial real estate developers, for-profit homebuilders, nonprofit organizations and investment companies. Mr. Barnett joined Novogradac & Company in 2000 and obtained a wide range of experience with low-income housing entities in the nonprofit sector. He received his bachelor’s degree in business economics with an accounting emphasis from the University of California, Santa Barbara, and is licensed in California as a certified public accountant.
Gary Downs
Founding Partner
Downs Pham & Kuei LLP
Gary Downs is a transactional real estate attorney and a founding partner of Downs Pham & Kuei LLP. Mr. Downs’ real estate practice includes tax, joint venture, public-private partnerships, acquisition and disposition, land use, regulatory work and complex financing. Mr. Downs’ clients are mostly developers ranging from “mom and pop” operations to multi-billion dollar real estate investment trusts (REITs). Mr. Downs routinely counsels his clients on using tax-advantaged financing such as various types of tax credits, including low-income housing (LIHTC), historic (HTC), investment (ITC) and new market tax credits (NMTC) to finance low-income, mixed-income and mixed-use developments. Mr. Downs also has broad experience in municipal finance matters such as general obligation, community facilities district, assessment district, single and multifamily, industrial development, tax allocation and certificate of participation issues.
Nicki Cometa
Chief Financial Officer
Affirmed Housing Group
Nicki Cometa oversees all financial and accounting aspects of Affirmed Housing Group. Her responsibilities include the comprehensive management of development financing, underwriting, due diligence coordination, lender and investor negotiations, and asset and risk management. Ms. Cometa also monitors and directs the implementation of strategic financial business plans. Ms. Cometa brings a wealth of senior financial management experience to Affirmed Housing Group, having worked more than 26 years in the construction and homebuilding industry. She has worked for both public and private corporations, both large and small, with revenues ranging from $10 million to more than $500 million. Ms. Cometa most recently worked as vice president of finance for Shea Homes, one of the largest privately held homebuilders in the United States.
Jim Kroger
Partner
Novogradac & Company LLP
James Kroger is a partner in the San Francisco office of Novogradac & Company LLP. Mr. Kroger has extensive experience in consulting for affordable housing developments financed with low-income housing tax credits (LIHTCs) and tax-exempt bonds. He conducts workshops concerning tax credit applications, tax-exempt bond applications and tax credit property compliance; and he has created a training program to help property managers become certified in IRS Section 42 tax credit property compliance. Mr. Kroger serves as the technical editor of the firm’s LIHTC Property Management Handbook as well as the technical editor on IRS Section 42 property compliance issues for the monthly Novogradac Journal of Tax Credits. He serves on the board of directors of the California Housing Consortium and is often a speaker at the housing credit conference hosted by the National Council of State Housing Agencies. He received his bachelor’s degree in legal studies from the University of California, Berkeley, and his master’s degree in business administration from the University of California, Davis. Mr. Kroger is licensed in California as a certified public accountant.