Tuesday: 10:45 p.m. - 12:00 p.m.

Presenters:
Cliff Hardy, Florida Housing Finance Corporation
Bob Ansley, Orlando Neighborhood Improvement Corp.
Moderator: Mark Hendrickson, The Hendrickson Company

2011 Legislation re-enacted several property tax relief provisions for nonprofits owning real property in Florida. One relates to community land trusts; anther relates to property not yet in service as affordable housing; and the third relates to limited liability companies, such as those used to develop tax credit properties. The focus of this session will be on the new law that allows tax credit properties to be exempt from property taxes. This change in the law may prove to be highly controversial as for profit entities partner with nonprofits or create their own nonprofit to enjoy what has historically been a tax exemption available only for property owned solely by a nonprofit corporation. The panel will discuss the ramifications of the new law; why some think it’s a good thing and some think it is not; lessons learned from other states with similar laws; and what best practices might be instituted in Florida to avoid negative repercussions.