Live Webcast
Thursday, January 22, 2026
2:00 PM to 3:30 pm Eastern

​About the Training
What is the purpose of a limited partnership agreement (LPA) in an affordable housing project that uses Low-Income Housing Tax Credit (LIHTC) equity? More importantly, what are the essential LPA terms, conditions, obligations, covenants and responsibilities that you REALLY must understand as a stakeholder in a tax credit partnership? If you work in an organization that develops, operates or invests in LIHTC multifamily housing and would benefit from a seasoned expert's perspective on the LPA or simply have limited experience navigating this essential document, this training is for you.

​Join seasoned tax credit asset manager Vinnie Viola for a 90-minute training that covers the basics of LIHTC partnership agreements. He will review the frequently referenced terms and sections of a typical LPA, considering both the investor limited partner's and general partner's perspectives. Attendees may submit questions for discussion and participate in on-screen polls.​​ 
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Training Agenda​​​
Purpose of Limited Partnership Agreement
Partnership Formation & Structure​​
Ancillary Legal Agreements
What You REALLY Need To Understand in the LPA
Capital Contributions
Projected Tax Credit Amount & Equity Adjusters
Rights, Powers & Obligations of the GP
GP Limitation on Authority
ILP Rights
Cash Waterfall and Distributions
Lifecycle Reporting Obligations
LPA Exhibit - LIHTC Financial Model
Year-15 Dispositions
Tips for Successfully Managing a LIHTC Partnership​​​
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Is This Training For Me?
This training is ideal for tax credit professionals that need to understand the bottom line when it comes to effective administration of LIHTC partnerships:
General partners, managing members, developers and guarantors
Asset Managers that interact with tax credit project stakeholders
Real Estate development project managers
Senior property management staff
Others interested in LIHTC partnership agreements
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​Contact Vinnie with questions about the training at 617-905-6340 or vinnie@birchislandrec.com.​
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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.