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September 22, 2006

Free money can get expensive

Real estate developers often use grants or low-interest loans either to bail out a troubled development or leverage their risk in an innovative or borderline project. Any time a developer improves real estate using federal money, there are many types of strings attached to the decision. These additional obligations can be magnified or diminished by knowledge or planning.

Cynthia King of Guscin Partner has spent over twenty-five years dealing with the many aspects of public private development partnerships from every point of view: as commercial lender, grantor, developer, nonprofit sponsor and real estate syndicator. Currently involved in several projects in the Gulf Coast area using funds made available after the Hurricane Katrina disaster, King will present “Free Money Can Get Expensive” to familiarize attorneys with the intricacies of using federal money for a real estate development on Monday, Oct. 2 from 1:30 to 4:45 p.m.

This seminar is appropriate for basic or intermediate professionals who either develop real estate property, manage it or advise the people who do. This seminar will be useful for anyone who has or is contemplating using low-interest loans or grants to bail out, refinance or create an innovative real estate project. It will be particularly helpful to those utilizing Low Income Housing Tax Credits (LIHTC) or Tax Exempt Private Activity Bonds, but it is applicable to other developments as well.

Topics include how federal money changes the character of a transaction; how you know if it is federal money; environmental assessment; historical reviews; uniform acquisitions and relocations; federal contractors and debarred contractors; Davis Bacon and prevailing wages; beyond fair housing; where to find free consultants; and cost-benefit analysis.

This course has been approved for both 3.0 hours of CLE and real estate credit. Register online at www.cbalaw.org or phone 614/221.4112 for event # 3623. The cost is $85 prepaid/$95 day of for members, $125 prepaid/$135 day of for non-members and $55 prepaid/$65 day of for paralegals.