I had the opportunity to present on a panel last week at Novogradac’s Affordable Housing Tax Credit Conference in New Orleans. After visiting the city for the Travois conference the previous week, my quick trip back to New Orleans was just as enjoyable.
I joined panelist representatives from Novogradac & Company, a nationally known tax credit accounting firm; WRH Realty Services, a large developer and property manager with more than 16,000 units in southeast U.S.; and the underwriting arm of U.S. Bank’s tax credit division, a major investor in tax credits.
Each of the panelists presented a unique perspective related to regional and national operating expense trends to help the 367 participants to be able to better benchmark their portfolios, understand rents and operating costs, and underwrite deals. My portion focused on the unique dynamics of operating expenses in Indian Country.
Specifically, I helped the audience understand some of the unique factors applicable to the 173 tax credit projects Travois has been a part of — all developed by our tribal clients and tribal housing authority partners. I explained the implications of NAHASDA and its impact on cash flow and operations. I highlighted unique considerations of projects on trust land where property taxes are typically not applicable. I also spoke in depth about the dynamics of single-family detached projects, typical in Indian Country but not the norm for developers and property managers at the conference session.
It was a great opportunity, in front of a large audience, to talk about the success of our Indian Country partners developing and operating low-income housing.