News Historic Tax CreditIndustry/Other

Community Reinvestment Act Webinar by HTCC

Written By: NTCIC

This webinar was moderated by NTCIC Public Policy Advisor, John Leith-Tetrault & NTCIC President, Merrill Hoopengardner was a webinar panelist.

Investing in vacant and abandoned buildings in low and moderate income areas and economic development zones has always posed underwriting challenges for local banks. However, recently revised Community Reinvestment Act (CRA) guidelines released in July by the federal bank regulators clarifies for the first time how financial institutions can earn CRA credit for investing in the federal and state historic tax credits (HTC) often generated by these projects.

On December 5, 2016, HTCC hosted a one-hour webinar aimed at bankers, developers, Main Street managers, property owners, community organizations, tax credit professionals and planning officials. Webinar attendees had the opportunity to learn the key characteristics of CRA-eligible HTC equity investments. Bankers who participated learned how to make the case to bank examiners that their HTC investments merit CRA consideration. Those seeking HTC investments from banks learned what information their banker needs to determine CRA eligibility.

Webinar speakers included the following industry leaders:

  • Barry Wides | Deputy Comptroller, Community InvestmentOffice of the Comptroller of the Currency
  • Sharon Canavan | Community Development ExpertOffice of the Comptroller of the Currency
  • Leigh Ann Smith | SVP and Tax Credit Equity Originations ManagerBank of America Merrill Lynch
  • Merrill Hoopengardner | PresidentNational Trust Community Investment Corporation
  • John Leith-Tetrault | ChairmanThe Historic Tax Credit Coalition

See below for a recording of the webinar and PDF of the full presentation.