10th Annual New Markets Tax Credit Summit Conference Agenda

Wednesday, May 4, 2011

1:00 – 5:00 PM 

Become an Expert in Four Hours "Learning the Nuts and Bolts of the NMTC Program"

Professionals from Reznick Group's NMTC Practice Group will turn a NMTC novice into a well-versed participant in one afternoon. Multiple sessions will highlight program policies and rules, basic deal structuring, compliance risk, fee structures, reporting and today's NMTC market conditions.

1:00 – 2:15 PM 

Nuts and Bolts: Gary Perlow, Reznick Group

You will be amazed at how much you can learn in an hour if you can focus on the most relevant parts of the NMTC program. We will address the ABC's of the program, but most important, how these rules relate to what is happening "today" in the marketplace.

2:15 – 2:30 PM  Break

 

2:30 – 3:00 PM 

NMTC Compliance Issues: Deb Rosier, Reznick Group

The NMTC program is highly regulated with a web of complex requirements. This session will address both regulatory and pragmatic compliance, including documentation, reporting with a focus area of "high risk" from what we have directly experienced in the field!

3:00 - 3:30 PM

Qualifying a NMTC Investment/QALIB: Laura Bauer, Strategic Development  Solutions

There are more steps than you can imagine in qualifying a NMTC investment. In this session, you will learn the tricks and turns in determining what constitutes a qualified business or real estate project – "Am I truly an eligible recipient for NMTC Capital?"

3:30 – 3:45 PM Break

 

3:45 – 4:00 PM 

CDE Fee Structures in Today's Market: Charles Edelen, Reznick Group

Learn about where the market is today, relating to NMTC fee structures and compensation. We will address up-front, ongoing and back-end residual fees and the mechanics of how such fees are paid.

4:00 – 4:15 PM 

Tax Credit Recapture Risks: David Norton, Reznick Group

Although there are only a handful of events that can trigger a NMTC recapture, it is easier than you think to let your guard down and have something fall through the cracks. We will walk you through the trigger points of recapture and how they can be easily prevented.

4:15 – 4:45 PM 

Mechanics of Structuring a NMTC Deal: Ed Creskoff, Reznick Group

Now that we have covered the rules in the playbook, let's put it all together and learn how the best NMTC benefits are weighed by all the parties and how a deal is structured, priced and closed!

4:45 – 5:00 PM  Q&A and Wrap Up

 

 

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Thursday, May 5, 2011

 

8:00 – 9:00 AM  Networking Breakfast

 

9:00 – 9:15 AM 

Program Overview presented by Gary Perlow, Reznick Group

 

9:15 – 10:00 AM

Out of the Woods?

The Great Recession may be officially over, but businesses nationwide are still reeling from its impact. Our panel of the most active investors discuss their current appetite for NMTCs, as well as their thoughts about current credit pricing, expectations and guarantees, underwriting criteria, risk profile, volume caps and where they see this market moving during the next 12 months.

Moderator: Tim Kemper, Reznick Group
Speakers: Eric Rosen, SunTrust; Jim Howard, Dudley Ventures; Tracy Ericson, Wells Fargo; Carrie Van Syckel, Goldman Sachs Urban Investment Group; Dave Gibson, PNC Bank; Leigh Ann Smith, Bank of America Merrill Lynch; William Turner, Wells Fargo

10:00 –10:45 AM

The Nuances of Structuring a Deal in Today's Market

Given a more mature industry, along with seasoned participants and more heightened competition for the credits, enhancing your credibility in this marketplace requires an in-depth understanding of the many issues that could arise at the front end of structuring a deal. Topics to be discussed include: current changes in structuring a NMTC transaction; how to address everyone's concerns; structuring equity investments under the "reasonable expectation test", managing the Call Price; and making deals work using the Targeted Population rules.

Moderator: Ira Weinstein, Reznick Group
Speakers: Stephanie Franklin-Suber, Ballard Spahr; Laura Vowell; U.S. Bancorp CDC; Matt Reilein, JPMorgan Chase; George Nagle, SorinRoyerCooper LLC

10:45 – 11:00 AM Networking Break

 

11:00 – 11:55 AM

Tax Issue Sensitivity ("Tightening the Belt"):

Over the past year, the investor market has clearly become far more cautious in evaluating the tax aspects and implications of a pending transaction. What constitutes "true debt"? Can you comfortably operate outside of the safe harbor redemption rules? Does the one-day loan structure still hold water? What does a CDE need to produce to ensure they maintain their CDE status? Can we rely on certain Private Letter Rulings? Our panelists will address these critical questions as well as other sensitive tax issues that inevitably arise in a NMTC transaction.

Moderator: Beth Mullen, Reznick Group
Speakers: Mike Saad, Squire Sanders; Mike Sanders, Blank Rome; Phil Cornblatt, Reznick Group

12:00 -1:30 PM  Networking Luncheon

Luncheon Keynote Speaker: Bob Rapoza, Rapoza Associates

1:30 – 2:20 PM 

The Unwind

We are just passing the first wave of maturing NMTC transactions. With market conditions currently more different than they were when these deals were closed, how will these borrowers be able to recapitalize and pay back what they owe? How will the investor puts/calls be perfected? What are the back- end tax consequences? And what are the options in the event there are no viable take out alternatives?

Moderator: Dick Davies, Reznick Group;
Speakers: Scott Szeliga, Reznick Group; Jerry Breed, Bryan Cave LLP; Thomas Dolan, CEI Capital Management, LLC; Kristin DeKuiper, Holland & Knight LLP

2:20 – 3:15 PM 

Interpreting and Living within the Boundaries of a CDE's Allocation Agreement

Not only is it important for the CDE to understand the parameters of its Allocation Agreement, but the borrower, leveraged lender, and all the other players need to know the rules of the game as they impact all the parties in a transaction! Learn the control requirements, types of permitted transactions, mandated reporting requirements, how to live within the spirit of the Allocation Agreement and what this means to all participants.

Moderator: Gary Perlow, Reznick Group
Speakers: Miriam Sheehan, Nolan Sheehan & Patten LLP; Joel Cohn, Reznick Group; Elaine Martin, Enterprise Community Investment, Inc.

3:15 – 3:35 PM  Networking Break

 

3:35 – 4:30 PM 

The Big Fix

With so many moving parts and players in a NMTC transaction, it isn't easy getting everyone on the same page, especially when a NMTC investment is in default. Learn what can (and can't) be done within the complex parameters of the program to present the best options for protecting everyone's interests.

Moderator: Ira Weinstein, Reznick Group
Speakers: Scott Lindquist, SNR Denton; Iris Bashein, Bank of America Merrill Lynch; Ana Da Silva, U.S. Bancorp CDC; Kevin Goldsmith, JPMorgan Chase

4:30 – 4:45 PM 

Today's Wrap-up and Overview of Tomorrow's Agenda

 

6:00 – 10:00 PM 

Join Us for our Opening Day Networking Extravaganza!

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Friday, May 6, 2011

 

8:00 – 9:00 AM  Networking Breakfast

 

9:00 – 9:45 AM 

A Marriage Made in Washington

Given the dizzying array of active governmental subsidy and tax credit programs currently out there, it's becoming more common by the day to marry these programs with NMTCs to enhance a transaction. Experts in the tax exempt bond, renewable energy, historic tax credits, FHA insurance and other subsidy programs, including State NMTC programs, will share their expertise and experiences with you to show you how to make your transactions happen!

Moderator: Ira Weinstein, Reznick Group
Speakers: Merrill Hoopengardner, Nixon Peabody LLP; Tom Nelson, Kantor Taylor Nelson Boyd & Evatt PC; Kayla Gross, Reznick Group 

9:45 – 10:30 AM

Let's Make a Deal

It's not quite as easy as rolling the dice and hoping you hit the right CDE that fits your deal. You need to understand what type of deal will excite a CDE, whether or not your deal fits a CDE's parameters, and, if so, how you package, seek out and present your deal to a CDE in order to win an Allocation! Learn these tricks of the trade from seasoned industry participants.

Moderator: Ed Creskoff, Reznick Group
Speakers: Craig Stanley, CBO Financial,Inc; Robert Poznanski, National Equity Fund, Inc.; Vincent Ravaschiere, New Markets Capital Company, LLC; Cliff Kenwood, AMCREF Community Capital, LLC; Nelson Black, Florida Community Loan Fund, Inc.

10:30 –10:45 AM Networking Break

 

10:45 –11:45 AM 

Making my NMTC Application Competitive

Putting together a competitive NMTC application is not only time consuming, but requires extensive homework to make sure you understand how the application is scored, what the reviewers are weighing in their analysis and how can you profile your Organization to make sure you fit well into the boxes in the Application! This panel will walk you through some of the more difficult questions in the Application and share with you the tricks of the trade to ensure you are reading the questions correctly and providing responses in line with the CDFI Fund's expectations.

Moderator: Scott Szeliga, Reznick Group
Speakers: Gary Perlow, Reznick Group; Linda Davenport, Rapoza Associates; Don Nimey, Reznick Group

11:45 –12:00 PM

Final Q&A and Closing Remarks