LIVE WEBCAST

Thursday, February 12, 2026
2:00 to 3:30 pm Eastern
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About This Webcast
This 2nd edition training expands on the concepts featured in Birch Island’s ever-popular webcast, Introduction to the Low-Income Housing Tax Credit (LIHTC) Financial Model.

Multifamily project stakeholders prepare sensitivity analyses (what-if scenarios) to understand how seemingly small changes in modeling assumptions can impact a property’s financial performance and tax credit projections. Join Vinnie Viola for this intermediate-level webcast that, building on LIHTC Series Part II, explores key multifamily modeling concepts in a three-part agenda featuring insightful on-screen Excel demonstrations. 
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Training Agenda
 - Annual Tax Credit Amount with What-If Scenarios
LIHTC Eligible Basis and the Annual Credit Amount
Project Applicable Fraction vs. First Year Applicable Fraction in Four Scenarios
Demonstration: Independent Variables that Impact Investment Yield (IRR)
 
 - Multifamily Property Operations with What-If Scenarios
Scenario #1: 15-Year Operating Pro Forma Assumptions
Scenario #2: 2015 – 2025 Actual Operations Underperforms Underwriting
Scenario #3: 2015 – 2025 Actual Operations Overperforms Underwriting
“Back of the Envelop” Valuation (income approach) in 3 Scenarios
 
 - First Mortgage Refinancing
Some Reasons for a Refinancing
Essential loan terms
“Back of the Envelop” Loan Sizing with On-Screen Demonstrations:  
                            - Refinancing an Existing First Mortgage Balance 
                            - “Equity Takeout”
 
Is This Training for Me?
​This webcast would benefit real estate professionals with underwriting or day-to-day responsibilities for multifamily tax credit projects:
Asset management analysts
Asset managers
Real estate project managers
Property management staff responsible for owner's objectives
Staff at Housing Credit Agencies / affordable housing funders
Others involved in underwriting of multifamily tax credit projects.

Please contact Vinnie Viola at vinnie@birchislandrec.com or (617) 905-6340 with any questions about these trainings or your registration.

​About the Presenter
Vinnie Viola is the Principal of Birch Island Real Estate Consulting. Formed in 2013, the practice consults with developers, operators, and investors of multifamily housing about the intricacies Low-Income Housing Tax Credit (LIHTC) program, maximizing real estate performance, and much more. Vinnie is passionate about asset management and coaching professionals at all levels. Over the past decade, he has hosted nearly 300 live webcasts and delivered customized private trainings on multifamily asset management practices and related topics.
 
Vinnie’s experience builds on work in for-profit, government and not-for-profit organizations that invest in, manage and regulate affordable housing. He spent ten years in leadership roles at Boston Financial Investment Management and Boston Capital, which provided a solid foundation in real estate asset management and the LIHTC program. ​​More recently, Vinnie served as Director of Asset Management at Madison Park Development Corporation. He earned a BA from the University of Massachusetts and an MPA from the University of Texas, Dallas; he also holds a certificate in real estate finance from Boston University’s Metropolitan College.