Condo Sell-out Analysis

[Ken B]

I will say that the LIHTC valuation question is perhaps most applicable to the topic at hand. However, the sale of tax credits to an investor as a source of funds for the development of an LIHTC property is not synonymous with end unit purchasers agreeing to allow the developer to use a portion of the down payment made by that end user towards the construction of the project.

I don't think valuation of the cash flow from an LIHTC, upon completion, should include the value of the tax credits.