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2017 MIDYEAR MEETING Strengthening Rural Housing With Valued Partnerships

January 23-25, 2017The Ritz-Carlton, Sarasota

Sarasota, Florida

Council for Affordable and Rural Housing, 116 S. Fayette Street, Alexandria, VA 22314T: 703-837-9001 F: 703-837-8467

email: carh@carh.org, website: www.carh.org

C A R H P R E S E N T S

Castle Village, Wallick Communities, Brodhead, KY – Project financed by Lancaster Pollard – Photos courtesy of Lancaster Pollard

The CARH 2017 Midyear MeetingStrengthening Rural Housing With Valued Partnerships

January 23-25, 2017 | The Ritz-Carlton, Sarasota, Florida

Council for Affordable and Rural Housing116 S. Fayette Street, Alexandria, VA 22314 • T: 703.837.9001 • F: 703.837.8467 • email: carh@carh.org, website: www.carh.org 2

The Council for Affordable and Rural Housing (CARH) MidyearMeeting will take place on Monday, January 23 throughWednesday, January 25, 2017, at the Ritz-Carlton, Sarasota inSarasota, Florida. CARH meetings are considered the industry’spremier affordable rural housing conferences. Your attendance willbe critical at the CARH 2017 Midyear Meeting, in light of thesignificant changes in Washington, DC, after the highly chargedPresidential and Congressional elections. As always, leadingindustry experts will present the latest information and trends thatimpact your business. Educational sessions will be based on themeeting theme, “Strengthening Rural Housing With ValuedPartnerships.”

The meeting will take place within days of Inauguration Day andshortly after the 115th Congress convenes. Be the first to hearfrom CARH Washington experts on how the new players andleadership in the Trump Administration will impact the affordablerural housing industry. Hear the latest information on how the newCongress is poised to respond to various proposals and initiativesthat will come from the Administration. These are expected toinclude infrastructure proposals, tax reform vis-à-vis the housingcredit and housing bond programs and other issues that willimpact the affordable rural housing industry. We’ll review taxreform discussions and how they are already being viewed byindustry participants, as well as strategies for bringingtransactions to closing.

CARH will presentthe prestigious HarryL. Tomlinson, StateAffiliatedAssociation of theYear, and Member ofthe Year Awards. Bethere to helprecognize andcelebrate your colleagues who have excelled in the affordablehousing industry by moving our objectives forward through theirachievements and determination.

The CARH standing committees will also convene. This is youropportunity to discuss issues important to you for CARH to advancethrough its legislative work, or benefits and services you would likeCARH to offer the membership. CARH is your association and youhave a voice. Let us know where you want CARH to focus our

greatest efforts, to provide you with the necessary tools to increasethe efficiency of your business. You will also have time to meet andgreet the loyal vendors and service providers who offer goods andservices to the industry, often at a discount.

Take a break from winter andenjoy Sarasota on the stunningGulf of Mexico. Known forsugar-sand beaches, casualelegance and gorgeousSpanish-style architecture,Sarasota was built around itsmost famous residents, theRingling Family. This well-known circus family heavily invested in the community, and builtfine art museums, hotels and the famous Ringling School of Artand Design. The Ringling legacy continues to attract visitors fromall over the world. From enjoying the beach and other outdooractivities, to the many cultural opportunities available, Sarasotahas something for everyone. For more information on the Sarasotaarea, please visit the official website, www.visitsarasota.org.

The Ritz-Carlton, Sarasota is situated on 11 acres near the center ofdowntown, where you will be within walking distance of cultural andperformance venues. Enjoy the tranquility of the beach at the hotel’sBeach Club located on Lido Key just three miles away. Tuesday’sreception will be held at the Beach Club, allowing attendees to walkthe beach and experience a Florida sunset at a spectacular location!Tennis courts, a golf course and a full service spa round out all thatthe hotel offers. For more information on The Ritz-Carlton, Sarasota,please visit www.ritzcarlton.com/en/hotels/florida/sarasota.

Schedule of EventsRecommended Dress - Business casual for all sessions and receptions.

Monday, January 23, 2017

8:30a.m.-4:00 p.m.Registration Open

8:30 a.m.-5:30 p.m.Committee Meetings—Allattendees are welcome toattend the committee meetings.

8:30-9:30 a.m. Best Practices and Education CommitteeThis joint committee will continue its efforts to increaseeducational opportunities for the affordable rural housingindustry. Expanding and marketing CARH’s designationprogram will be discussed. Continued development of bestpractices for onsite managers and maintenance personnelwill also be explored, including new best practice forms tobe added to the CARH website. The committee should beprepared to recommend its top priority issues foraction to the CARH Board of Directors.

9:30-9:45 a.m.Break with ExhibitorsThis will be the first of many opportunities to spend timewith the vendors, whose companies supply goods andservices to the affordable rural housing industry.

9:45-10:45 a.m.State Association CommitteeThe committee will continue to review formation of CARHaffiliated state associations in areas of the country currentlynot served. The nuts and bolts of organizing state meetingsand conferences, including formats of meetings,recommended speakers and determining various sessiontopics will also be reviewed. Social media options will bediscussed vis-à-vis the promotion of CARH and the stateassociations, as well as the affordable housing industry as awhole. The importance of grass-roots advocacy will also beexamined and how this advocacy supports CARH efforts atthe national legislative level. The committee should beprepared to recommend its top issues for action to theCARH Board of Directors.

10:45 a.m.-12:00 p.m.Management CommitteeThe committee will cover the myriad of issues facingmanagement companies today. Discussion will center on howthe new Administration will address many of the regulatoryissues impacting housing programs administered by both theDepartment of Housing and Urban Development (HUD) and theUnited States Department of Agriculture (USDA) RuralDevelopment (RD). Current management policies will bethoroughly reviewed by new agency heads. It will be essentialthat any changes reflect the business needs of managementcompanies and continue to provide the necessary resourcesthat will allow these companies to deliver affordable housingto residents in rural communities throughout the country.Officials from the national RD office will be available todiscuss a variety of servicing issues via teleconference duringthe committee meeting. Management fees, incomeverification, budgeting, rental assistance concerns, includingthe agency’s rent incentives pilot will be examined. Thecommittee should be prepared to recommend its topissues for action to the CARH Board of Directors.

Council for Affordable and Rural Housing116 S. Fayette Street, Alexandria, VA 22314 • T: 703.837.9001 • F: 703.837.8467 • email: carh@carh.org, website: www.carh.org 3

12:15-2:15 p.m.Opening Luncheon and Breaking News fromWashington: Insight Into the New Administration andCongressCARH’s Washington, DC experts will discuss how the newAdministration and the 115th Congress will impact theaffordable and rural housing industry during the upcomingyear. New faces in Washington will mean new policies andprocedures for how the federal government’s programs willoperate. Our experts will give attendees some insight intowho the new players are and how they will impact bothlong-term and short-term housing and tax policies. Congress’priorities will also be outlined and examined, including howwill they be measured beside the new Administration’spriorities. Discussion will also center on how CARH and theaffordable housing industry should respond so that ourconcerns are heard during this volatile time. Legislation thatpotentially could provide money for our country’sinfrastructure could move through Congress in the first partof the year. Find out how CARH members can relay to theirmembers of Congress that housing is part of the country’sinfrastructure and should be included as part of thoseefforts. The meeting exhibitors, whose companies supplygoods and services to rural housing providers, will also joinus at this luncheon where they will have the opportunity togive a short presentation on their company and products.

2:30-4:00 p.m.Development and Owner CommitteesThis joint committee meeting of the developers and ownerswill discuss the various transactional issues impacting bothsegments of the industry. Even the idea of tax reformlegislation being considered in the new Congress hasimpacted the investment community and investment incurrent transactions. How are the various players in thedevelopment and investment industry addressing concernsso that transactions can go forward? The ContinuingResolution for the Fiscal Year (FY) 2017 budget of the federalgovernment will be reviewed and its impact on many RDprograms, including those used for preservation. The newdata tool being used by RD has changed how the agency isapproaching the maturing mortgage issue. Owners of olderproperties seem to be seeing more and more tax issuesarise. Some of these issues will be discussed as well as howowners are responding. The committee will review if theresponse of the agency mirrors how borrowers are viewingthe issue. Status of the “duty to serve” rule for theGovernment Sponsored Enterprises (GSE) will be analyzed.The committee will also review preliminary data from thestates on usage of funds from the National Housing Trust

fund. The committee should be prepared to recommendits top issues for action to the CARH Board ofDirectors.

4:00-4:15 p.m.Break with Exhibitors

4:15-5:30 p.m.Board of Directors MeetingAll attendees are invited.

6:00-7:30 p.m.Networking Reception at Ritz Carlton HotelAfter a day of committee meetings, enjoy time to networkwith your colleagues at one of the hotel’s lovely receptionvenues overlooking Sarasota Bay.

Dinner on Your Own

Tuesday, January 24, 2017

7:30 a.m.-12:00 p.m. - Registration Open

7:45-10:00 a.m.General Sessions

7:45-9:00 a.m.ContinentalBreakfast andRegulators InTransitionCabinet appointments for most agencies have been madeand confirmation hearings will have begun for the CabinetSecretaries. However, the majority of deputies in theagencies that impact the affordable rural housing industryhave not yet been appointed. Career employees areessentially carrying on existing policies until appointmentsare made or, in some instances, nominations are confirmedby the Senate. Attendees will have the opportunity to hearfrom and discuss with transition officials, current programsand policies, while beginning a dialogue that will potentiallylead to changes and improvements in programs.

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9:00-10:00 a.m.Housing Credit and Housing Bond Programs—Today,Tomorrow and the FutureInvestment in affordable housing is in a transition mode. Eventhe mere discussion of tax reform has begun to impact theHousing Credit and Housing Bond programs. All eyes are onCongress and the new Administration as we weigh proposalsand timing of potential changes to the tax code. Thisdiscussion is vital for the affordable rural housing industry, asboth preservation and new construction rely heavily on thecredit and bond programs and are the backbone oftransactions today. This panel will analyze today’s marketsand look into their crystal balls as they prepare for 2017 andwhat tomorrow’s transactions may look like going forward.

10:00-10:15 a.m.Break with Exhibitors

10:15 a.m.-12:30 p.m.Concurrent Sessions

10:15-11:30 a.m.The New Overtime Rule: How to Respond and ComplyOn December 1, the Department of Labor’s new overtimeregulations were scheduled to go into effect. These wereintended to make millions more employees eligible for overtimepay. The regulation would have raised the Fair Labor StandardsAct (FLSA) salary threshold for exemption from overtime pay,from $23,660 to $47,476. A federal judge in Texas has blockedthe new federal overtime rule. This panel will provideattendees with an overview of the regulation and reviewcertain areas of the existing Fair Labor Standards Act. We’llidentify how your companies could be impacted by the newregulation should the judge’s ruling be overturned or modified.

OR

Follow the Money—Success Stories and Potential NewSourcesDevelopers and owners of affordable rural housing know toowell that several sources of funding are needed to maketransactions go to closing. The Section 538, Guaranteed RuralRental Housing Loan Program, is one of these fundinginstruments which has met with great success over the lastseveral years. Hear from a panel of experts who have seenthis program become a vital tool. Panelists will also examineHUD’s Federal Housing Administration (FHA) small buildingsrisk share initiative, as well as using RD’s communityfacilities loan program as a potential source for mixed use

development. Preliminary use of the National Housing Trustfund will also be analyzed.

11:30 a.m.-12:30 p.m.Concurrent Sessions

Twitter and Facebook: The New Constituent LetterThe Presidential and Congressional elections taught us mostelected officials are communicating with their constituentsvia social media. At the same time, their constituents canpublicly react to issues quickly with the same tools. It'simportant that our industry convey concerns on issues quickly.These experts will teach you how to use social media to tellrural housing’s story, why funding must be increased and taxreform should include the Housing Credit and Housing Bondprograms. Make sure you bring your mobile phone. You'll besending live Tweets and posting to your Congressionalmember's Facebook page in the session!

OR

What to do When “Failure” Comes into the EquationThe complexity of putting together all of the moving parts ofan affordable housing transaction offers ample opportunityfor trial and error, particularly in this volatile and uncertainmarket. Our panel of experts will weigh in to openly discusssome of their greatest FAILURES and what they learnedduring the development, construction and financingprocesses. Attendees will leave this session with battle-tested solutions as a result of lessons learned from theirexperienced colleagues.

12:30-2:00 p.m.Awards LuncheonCARH will present its threeprestigious awards: the Harry L.Tomlinson, the Member of theYear and the State AffiliatedAssociation of the Year Awards.Join us as we honor your colleagues for their achievementand dedication!

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2:15-3:30 p.m.General Session Accessibility on Your Properties: How to Meet YourResponsibilities While Understanding Your Liability As you plan for new construction and rehab of multifamilyproperties in 2017, everyone on your team must understandaccessibility requirements and what to look for in both thedesign and construction stage of your projects. A noncompliantdesign or an ill-advised decision by the construction team couldresult in an accessibility violation and lawsuit. This session willhelp developers, owners, contractors, architects, andsyndicators, who all have a role in ensuring compliance,understand the various accessibility requirements and how toreduce exposure to accessibility lawsuits.

3:30-5:30 p.m.Free Time to Explore the Sarasota Area Take advantage of the beautiful city of Sarasota on Florida’sGulf Coast. It was once the winter home of the famousRingling Brothers Circus, and today boasts numerouscultural, historic, entertainment and educational attractions.The Ringling Museum of Art features old masters andmodern art. The Sarasota Jungle Gardens are composed often acres of botanical plantings, plus bird and animal shows.The unique Marie Selby Botanical Gardens and the MoteMarine Laboratory and Aquarium are both top-ratedattractions. The city is also the gateway to the sugar-sandbeaches of Siesta Beach on Siesta Key, and Lido Beach. Twostunning state parks and a state forest offer manyopportunities for hiking, birding, fishing and other outdoor

activities. For moreinformation on the Sarasotaarea, please visit the officialwebsite,www.visitsarasota.org.

5:30-7:00 p.m.Networking Reception at The Ritz-Carlton, SarasotaBeach ClubAfter a long day of educational sessions, it will be time tosocialize with your colleagues at The Ritz-Carlton, SarasotaBeach Club. Enjoy the beautiful white sand beaches of LidoKey, with a view of the Gulf of Mexico. Experience a Floridasunset from the best location in Sarasota. While at theBeach Club, don’t miss the historic and rustic Lido Key TikiBar, a Sarasota landmark. After the reception, you mightwant to head on over to St. Armands Circle, for shopping aswell as a host of dining options. For more information,please visit www.starmandscircleassoc.com.

Dinner on Your Own

Wednesday, January 25, 2017

8:45 a.m.-12:00 p.m. - Registration Open

8:45-9:15 a.m. - Continental Breakfast with Exhibitors

9:15 a.m. -12:00 p.m. - General Sessions

9:15-10:30 a.m.Regulatory Issues Impacting Partnership InterestsThe Internal Revenue Service (IRS) has recently issuedregulations addressing disguised sales of property involvingpartnerships, the allocation of partnership liabilities as well asother issues related to partnership taxation. The regulationsare largely intended to eliminate what the IRS sees as abusesof some of the tax benefits associated with partnerships andpass-through entities. This panel will review theseregulations, and other tax-related issues, that owners anddevelopers should be concerned with in these changing times.

10:30-10:45 a.m. - Break with Exhibitors

10:45 a.m.-12:00 p.m.Catchall Preservation RoundtableAttendees will discuss transactions based on RD’s currentpreservation policies. Funding issues will be outlined basedon FY 2017 funding and beyond. Recommendations goingforward based on information received from sessions duringthe last two days, will also be part of the discussion, withplans to relay these recommendations to the new RuralDevelopment Undersecretary and Administrator.

12:00 p.m. - Meeting Concludes

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Featured Speakers

Hon. Tom ReynoldsNixon Peabody, LLPWashington, DC

Katie AlitzBoston CapitalBoston, MA

Don BeatyThe Summit GroupSeattle, WA

Mitch CopmanStreamroll. LLCCumming, GA

Daniel DudaChurchill Stateside Group LLCClearwater, FL

Tanya EastwoodGreystone Affordable HousingInitiatives, LLC

Raleigh, NC

Will EcksteinGreystone Affordable Housing Initiatives, LLC

Raleigh, NC

Mark EnglishE&A Team, Inc.Tuscaloosa, AL

Todd FentressClark Schaefer HackettColumbus, OH

Colleen FlynnJohnson, Pope, Bokor, Ruppel & Burns, LLP

Clearwater, FL

Tom FlynnFlynn Management CorporationClearwater, FL

Garrick L. GibsonTidwell GroupAustin, TX

Robert HallBonneville Multifamily CapitalSalt Lake City, UT

Bryan Hooper*Deputy Administrator, Multifamily Housing

USDA/Rural DevelopmentWashington, DC

John KircherOhio Capital CorporationColumbus, OH

Liam McGuigan*Coventry Capital Group, LLCKing of Prussia, PA

David LayfieldApartmentSmart.comSalisbury, MD

Scott MooreBaird Holm, LLPOmaha, NE

Bob MossCohnReznick LLPBoston, MA

Kent NeumannEichner Norris & Neumann, PLLCWashington, DC

Chris PotterpinPK Housing & ManagementOkemos, MI

Richard Michael Price, Esq.Nixon Peabody, LLPWashington, DC

Monica Hilton Sussman, Esq.Nixon Peabody, LLPWashington, DC

Erica Vernon, CPABernard Robinson & Company, LLPGreensboro, NC

Kurt Wallace*Wallace ArchitectsColumbia, MO

Council for Affordable and Rural Housing116 S. Fayette Street, Alexandria, VA 22314 • T: 703.837.9001 • F: 703.837.8467 • email: carh@carh.org, website: www.carh.org

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* = invited

Name Title

Company/Organization

Street Address

City State Zip

Telephone Fax

E-mail Website

Guest(s) Name(s)

REGISTRATION FEES HOTEL INFORMATIONAdvisory Trustee: 2 or more attendees (per person) $630 $Associate Plus: 2 or more attendees (per person) $690 $Basic Plus Member: 1 or 2 attendees (per person) $750 $ 3 or more attendees (per person) $720 $Associate or Basic Member: 1 or 2 attendees (per person) $770 $ Visit www.CARH.org to Become a Meeting Sponsor

3 or more attendees (per person) $730 $ CANCELLATION/REFUND POLICYState Affiliated Assn. Member: $845 $Exhibitor's Table + 1 Attendee: $810 $ Each additional exhibitor attendee: $730 $Non-Member: Per attendee: $915 $ Exhibitor's Table + 1 attendee: $965 $ Each additional attendee: $780 $Government Employee: $605 $

$

Additional Guest Reception Fees:Monday, January 25 Opening Reception at the Alamo $65 $65 $Tuesday, January 26 Networking Reception $75 $75 $

$

Card Number Expiration Date Security Code

Name as it Appears on Card

Billing Address City State Zip

Signature (required)

Cancellations must be made via email toemarecheau@carh.org. A $35 fee will be charged forregistration cancellations received by 5 p.m., Friday,January 8, 2016. $110 will be deducted fromcancellations received after that date. Absolutely norefunds will be given after 5 p.m. on Wednesday,January 20, 2016, or to registrants who fail to attendthe program. An additional $85 will be assessed on allat-door registrations.

Special Event: Docent Tour of the Alamo (during Monday's (January 25th) Reception)

# of Tickets Needed

REGISTRATION FORM

Council for Affordable and Rural Housing

Monday, January 25 - Wednesday, January 27, 2016 Westin Riverwalk Hotel San Antonio Texas

2016 Midyear Meeting

How would you best describe your company? Developer Manager Owner Syndicator/Equity Financier

Vendor/Supplier CARH State Affiliated Association Executive Other (please describe)

TOTAL

$25 each (not included in registration or guest fees)

Council for Affordable and Rural Housing 1112 King Street

Alexandria, VA 22314 703-837-9001 ~ 703-837-8467 (fax)

CARH's Midyear Meeting will be held at the WestinRiverwalk Hotel in San Antonio, Texas. Registrants willreceive a special rate of $209 for City View rooms or$229 for River View rooms, both per night andsingle/double occupancy. To receive these rates, youmust make your reservations no later thanTuesday, January 5, 2016. Please call the hoteldirectly at (210) 224-6500 and identify yourself as aCARH meeting attendee or visit CARH's website,www.carh.org, for the link to reserve rooms online.

To pay by credit card, complete the section below. Or,make check payable to CARH. Send form andpayment to:

To pay by credit card, complete the following: