Financing Multi-Family Housing: Structuring the Low-Income Housing Tax Credit and Tax-Exempt Bonds

Documenting Transactions for Investors and Developers

Note: CPE credit is not offered on this program

Recording of a 90-minute premium CLE video webinar with Q&A

Conducted on Tuesday, April 13, 2021

Recorded event now available

or call 1-800-926-7926
Course Materials

This CLE course will discuss how to utilize Low-Income Housing Tax Credits (LIHTCs) and tax-exempt bonds in multi-family construction financing. The program will examine the mechanisms of each form of financing, how each impacts the other, and how current market trends and developments impact these financing vehicles.


The availability of government incentives for multi-family affordable housing projects creates an opportunity for investors, developers, and governmental entities.

Tax-exempt bonds and the syndication of LIHTCs are primary tools for developing new affordable housing or rehabilitating existing affordable housing. To qualify for and maintain these incentives, investors and developers must comply with strict requirements.

Counsel structuring multi-family affordable housing transactions must understand the complex rules for qualifying for the LIHTC and how to best leverage tax-exempt bond financing.

Listen as our authoritative panel of real estate practitioners walks you through qualifying for and structuring transactions that utilize the LIHTC to finance multi-family housing projects. The panel will also address structuring tax-exempt bonds to pair with the LIHTC and the impact of reduced corporate tax rates on the LIHTC market.



  1. Current opportunities and trends in multi-family affordable housing
  2. Low-income housing tax credits
    1. Requirements for qualification
    2. Income and rent restrictions
    3. Four percent credit for the acquisition--the new permanent floor of 4 percent
    4. Nine percent credit for new construction or substantial rehabilitation
    5. Other structural issues
  3. Tax-exempt bonds
    1. Typical bond structures
    2. Good costs vs. bad costs
    3. 50 percent financing requirement


The panel will review these and other issues:

  • Tax benefits of investing in LIHTC projects
  • LIHTC eligibility requirements: state and federal
  • Common investment structures for LIHTC projects
  • Eligible bonds that can be paired with the LIHTC
  • Tax-exempt bond structures


Bowen, Ryan
Ryan J. Bowen

Chapman and Cutler

Mr. Bowen has experience serving as bond and underwriter’s counsel in connection with a variety of bond...  |  Read More

Feller, Brent
Brent L. Feller

Chapman and Cutler

Mr. Feller is primarily involved in the tax aspects of financings throughout the country, including new money and...  |  Read More

Leonard, Sean
Sean B. Leonard

Holland & Knight

Mr. Leonard is a member of the firm's Tax Credit Transactions Practice. He focuses his practice on the...  |  Read More

Long, M. Chrysa
M. Chrysa Long

Klein Hornig

Ms. Long represents investors and developers of complex and multi-tiered projects eligible for federal and state...  |  Read More

Access Anytime, Anywhere

Strafford will process CLE credit for one person on each recording. All formats include course handouts.

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