Snyder Construction Group Attends Annual Novogradac Affordable Housing Conference

Snyder Construction Group builds partnerships that last and creates value for communities around Southwest Missouri and beyond. One of the areas we take pride in is general contracting and preconstruction for affordable housing as a way to build stronger families and communities.

Earlier this year, Brandi Bailey, Vice President of Strategic Development and Marketing, attended the 2023 Novogradac Affordable Housing Conference in San Francisco. Hosted by the national professional services organization, Novogradac facilitated several workshops for key stakeholders in the affordable housing space.

What Is the Novogradac Affordable Housing Conference?

The conference attracts a diverse audience ranging from developers to tax credit professionals, lenders, equity investors, government agencies, and other stakeholders. Experts share their practical experiences and provide insights into affordable housing construction and finance. They also discuss trends and patterns that everyone in the industry needs to know about.

Panels discuss challenges, innovations, and solutions in building this niche market. The conference aims to educate stakeholders on how to navigate the complex processes, policies, regulations, and funding requirements needed to build a successful affordable housing project.

Topics discussed at the conference are usually focused on the latest policies, trends, and statistics surrounding affordable housing.

For 2023, three days of panels talked about:

1. LIHTC Basics

2. ROI on Affordable Housing Construction

3. RAD Programs

4. How to Finance Affordable Housing Builds

5. Renewable Energy in Affordable Housing

6. Relationships With Nonprofit Agencies

Speakers and moderators gave us insights into the best strategies, tactics, and techniques needed to make your project successful.

This conference is significant as it helps shape the direction of affordable housing policies at the local, state, and federal levels. Additionally, well-established industry professionals bring industry expert knowledge areas like tax credits, financing, policy, and regulation, all of which can help make your project a success.

The Novogradac 2023 Affordable Housing Conference helped us build relationships that last by meeting a range of industry experts and luminaries as we seek opportunities for potential future collaboration, partnerships, and investments while engaging and discussing solutions and possibilities in the affordable housing field.

LIHTC Workshop

Over the past decade, Snyder Construction Group has engaged in many Low-Income Housing Tax Credit (LIHTC) programs. The workshop at Novogradac’s 2023 conference included talking points on the many moving parts involved in LIHTC programs from inception to completion.

We got to see the finer points of:

1. Recalling how tax credits make housing more affordable for low-income households

2. Determining approximately how many per-capita tax credits are available in states and territories in a given year

3. Identifying tools lawmakers and regulators have implemented over the years to increase the number of tax credits available at the state and national level

4. Identifying costs that are generally included in and excluded from eligible basis and determining how and whether that eligible basis should receive a basis boost

5. Determining a building’s applicable fraction according to the number of residential rental units or the floor space of those units

6. Identifying the roles and financial motivations of the major parties involved in a tiered LIHTC ownership structure

7. Understanding the multiple factors that affect tax credit pricing

8. Recognizing the role of the qualified allocation plan in states’ allocating tax credits and monitoring compliance

9. Identifying the major parties and their roles in a typical public bond issue

10. Understanding how failing the 50 percent test equates to a corresponding drop in tax credits claimed and equity received

11. Comprehending the major differences between 9 percent deals and 4 percent deals

12. Differentiating between how acquisition costs and rehabilitation costs are treated regarding eligible basis boosts and applicable tax credit percentages

13. Recalling the essential elements of the major tax credit rules, including the minimum set-aside, income limits, and rent limits

14. Differentiating between the tax credit period and the compliance period in claiming and earning credits as well as in assessing tax credit recapture risk

15. And these are just some of the details stakeholders need to understand when handling an LIHTC project.

The team at Snyder Construction Group knows from experience what it takes to bring these projects to a successful completion.

Affordable Housing & Snyder Construction Group

We’re proud of the affordable housing projects we’ve partnered with over the past 45 years, mainly through programs for multi-family and HUD work.

We have current or past projects with several agencies in a multistate area:

1. Tulsa Housing Authority (Oklahoma)

2. Housing Authority of Springfield (Missouri)

3. Memphis Housing Authority (Tennessee)

4. Salina Housing Authority (Kansas)

5. Kansas Housing Resources Corporation (KHRC)

6. Missouri Housing Development Commission (MHDC)

7. Oklahoma Housing Finance Agency (OFHA)

8. Texas Department of Housing & Community Affairs (TDHCA)

From preconstruction and construction to close-out, we have the capacity to perform projects on schedule and on budget.

Details About Our Multifamily/LIHTC Work

With more than 40 developments complete and some currently under construction or in pre-construction, Snyder Construction Group has built multi-family housing for a variety of uses:

• 55+ luxury housing

• Resort living

• University student apartments

• Lofts utilizing historic preservation and renovation techniques

• Mixed-use spaces

• More than half of our multi-family projects were in the LIHTC space, bringing together a wide range of stakeholders to complete projects that meet government standards for affordable housing.

Large or small, Snyder Construction Group has the capability to create quality housing for dozens, hundreds, or thousands of units.

We have nine large-scale projects currently in development or recently completed, including renovation or full construction work. These projects, listed above $20 million in scope, encompass nearly 2,500 total units. The largest is our renovation of Memphis Towers at 804 units, coupled with Parkline Towers’ 224-unit multifamily housing in Kalispell, Montana. Both places provide housing for hardworking families in both areas, one in a bustling urban center and the other at the doorstep to a vast national park.

Our work in Memphis has been particularly rewarding as we have helped hundreds of families live in improved housing situations. Currently under construction are 472 units across seven sites in Memphis, along with similar work in Memphis Towers, four complexes of housing units in the western Tennessee city.

We’re based in Southwest Missouri, just outside of Springfield, but we have completed projects in nearly 20 states for many clients, 80% of whom are repeat business due to the partnerships we’ve built over the past 45 years.

Snyder Construction Group’s Experience in Multifamily Projects

If you’d like to see Snyder’s experience with affordable housing projects, click here to see our firm’s qualifications with this complete guide. We’d be happy to discuss bringing your project home.

We invite you to work with Snyder Construction Group on your next affordable housing project.