Date: February 11, 2015
Time: 4:00–7:30 p.m.
Location: Nixon Peabody LLP, 437 Madison Avenue, 24th Floor, New York, NY 10022
Nonprofit housing corporations, including housing development fund corporations (HDFCs), are involved in almost every affordable housing transaction in New York State. Sometimes these corporations are the developers/sponsors, sometimes they are partners in the transaction, and sometimes they serve as the nominee owner.
But, many issues can arise in forming new HDFCs, and in recent years both the city and the state have altered their requirements for approval of new HDFCs. Additionally, the state’s Attorney General’s Office, which oversees the approval of the sale of assets owned by nonprofits, has made its standards for approval of these sales more stringent—which could impact any developer looking to acquire an existing affordable housing development owned by a nonprofit.
Join us for a program that will discuss the changes in city and state requirements and how developers—and the wider affordable housing community—can comply with them when they are structuring a transaction with a nonprofit.
4:00 p.m. Registration
4:30 p.m. Panel discussion
6:00–7:30 p.m. Networking reception