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Novogradac LIHTC Allocation/Underwriting Basics (Spring 2026)
The purpose of this training is to teach the fundamental concepts of allocation and underwriting. Through class participation and homework assignments, attendees will increase their understanding of what is necessary to start work in these areas. The content would be useful for developers, equity providers, lenders, attorneys and agency staff. Registrants also will have the option to earn a certificate by passing weekly tests.
For the course WITHOUT the certification, please click here.
Eligibility: Anyone
Format: Online lectures via Zoom
When: 3 p.m. E.T. on Thursdays, March 26 through April 30
Length: 1 hour and 30 minutes each
Homework: Four self-graded assignments
Reading: Introduction to LIHTCs (recommended to read in advance)
Sample Certificate
Certification Exam Information
On the day of each session, the certification exam corresponding to that session will open. To be eligible for the certificate, participants must complete each of the six exams within three weeks of the exams opening and obtain a passing score on each exam. The exams are graded by Mark Shelburne on a curve; therefore, results are not final until graded. Please view the individual exam tabs for the respective due dates.
Topics Covered:
March 26 – Introduction
- Basics of how the program operates
- The four main components
- Finding rent and income limits
April 2 – Eligible Basis and Boost
- Understanding the overall concepts
- Applying these concepts to examples
- The three kinds of 30% boost
April 9 – Applicable Fraction and Tax Credit Rate
- Setting up the spreadsheet
- Changing variables to see the effects
April 16 – Equity Investment
- Ownership entity structure
- Types of risks
- Time value of money
April 23 – Qualified Allocation Plans
- Federal legal requirements
- The four main components
- Practical realities of implementation
April 30 – Post-Award
- Carryover and 10% test
- Extended-use agreements
- Form 8610 and cost certifications