-Overview
The Advanced Tax Credit Finance Course offers an in-depth exploration of tax credit financing, building upon foundational knowledge to delve into complex deal structures and compliance requirements.
Participants will gain a comprehensive understanding of the New Markets Tax Credit (NMTC) and Low-Income Housing Tax Credit (LIHTC) programs, examining the roles of various stakeholders and the integration of tax credits with other economic development tools, such as bonds and loans.
Through detailed case studies, the course illustrates the practical application of these credits in real-world scenarios.
This course qualifies for the CDFA Training Institute's Development Finance Certified Professional (DFCP) Program. Join us online to advance your expertise in tax credit finance and enhance your professional development.
Register
Course Objectives
- Develop a nuanced understanding of complex deal structuring in tax credit finance
- Comprehend the roles and interactions of multiple stakeholders in tax credit transactions
- Learn best practices for performance monitoring and regulatory compliance
- Gain insights from tax credit experts nationwide
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Topics Covered
- Comprehensive processes for NMTC and LIHTC transactions
- Strategies for accessing NMTC and LIHTC
- Effective project tracking methodologies
- Ensuring compliance with federal regulations
- Roles of essential parties in tax credit projects
- Exploration of Historic Tax Credits
- Overview of Investment Tax Credits and Renewable Energy Tax Credits
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Who Should Attend?
- Developers and tax professionals
- Bond issuers and economic development practitioners
- Community development professionals and P3 practitioners
- Brokers, dealers, underwriters, and elected officials
- Government and nonprofit finance officers
- Attorneys, accountants, and financial advisors
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Course Advisor
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Toby Rittner
Council of Development Finance Agencies
President & CEO
Toby Rittner is the President & CEO of Council of Development Finance Agencies (CDFA), a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation’s leading and most ... knowledgeable members of the development finance community representing hundreds of public, private and non-profit development finance agencies. Mr. Rittner runs the day-to-day operations of the Council including the organization’s various educational, advocacy, research, resources, and networking initiatives. He also serves as the Chairman of the Board of Directors for the CDFA Foundation.
Rittner is one of the most vocal and recognized leaders of the development finance industry nationwide and has advised local, state, and federal leaders, including Presidents Biden and Obama, on economic development finance policy. Through his leadership and guidance, CDFA was successful in preserving private activity bonds and other critical development finance tools during the 2017 tax reform deliberations and has had numerous pieces of legislation introduced in the United States Congress. In 2021, Rittner successfully led a national effort to reauthorize and fund the $10B State Small Business Credit Initiative (SSBCI) program as part of the American Rescue Plan Act. He has written and crafted dozens of strategic finance plans for development finance agencies and advised communities throughout the world on development finance approaches.
Rittner focuses on sustainable finance with an emphasis on infrastructure, clean energy, food systems, small business, and innovations in the development finance industry to drive sustainable outcomes. He has written extensively about impact ready initiatives that leverage and engage capital in ways that drive local sustainability in business and industry and the environment and economy.
Rittner is a frequent speaker at local, state, and national conferences and events focused on economic development finance. He has been featured in The Bond Buyer, Wall Street Journal, Bloomberg, NPR and other national media publications concerning the advancement of development finance tools. He is the author of CDFA's highly acclaimed Practitioner's Guide to Economic Development Finance and co-author of CDFA's Unlocking Capital: A Handbook for Becoming a High Performing Development Finance Agency.
Rittner is an adjunct faculty member at The Ohio State University and Carnegie Mellon University. He is also a Development Finance Certified Professional (DFCP) and has completed the prestigious Oxford University Sustainable Finance Foundation Course.
Mr. Rittner previously served on the U.S. Environmental Protection Agency’s Environmental Financial Advisory Board and is a member of the Advisory Board for the National Community Fund I. Mr. Rittner holds a Bachelor of Arts in Political Science and a Master's of City and Regional Planning degree from The Ohio State University. Mr. Rittner was awarded the Ohio State University College of Engineering Distinguished Alumnus Award in 2016. (More)
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-Agenda
Thursday, October 8, 2026
| Thu 11:00 AM - 11:10 AM |
Welcome & Overview
Welcome to the course! This session will introduce CDFA, explain how to use the online software, and discuss the agenda for the Advanced Tax Credit Finance Course.
Moderator(s)
- Toby Rittner, President & CEO, Council of Development Finance Agencies
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| Thu 11:10 AM - 11:30 AM |
The Role of Tax Credits in Complex Finance Deals
This opening session frames how tax credits operate within modern development finance transactions. Participants will align around the day’s focus: execution, structuring, and decision-making across complex deals.
Speaker(s)
- Toby Rittner, President & CEO, Council of Development Finance Agencies
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| Thu 11:30 AM - 12:20 PM |
Historic Tax Credits: Structuring, Execution & Risk Management
Historic Tax Credits remain one of the most powerful tools for redevelopment when structured correctly. This session examines HTC deals from eligibility through execution, focusing on qualified rehabilitation expenditure (QRE) strategy, transaction structuring, stakeholder alignment, and compliance realities across the project lifecycle.
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| Thu 12:20 PM - 1:35 PM |
New Markets Tax Credits: Deal Mechanics & Capital Stack Strategy
This session breaks down NMTC transactions from formation through exit, emphasizing how sophisticated practitioners structure and execute deals in practice. Case studies demonstrate how NMTC is layered with bonds, TIF, Opportunity Zones, and other tools to close financing gaps and manage risk.
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| Thu 1:35 PM - 1:45 PM |
Break
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| Thu 1:45 PM - 3:05 PM |
LIHTC Strategies: 4% and 9% Deals from Concept to Closing
Selecting between 4% and 9% LIHTC structures is one of the most consequential decisions in housing finance. This session compares how each credit operates and examines the financial, competitive, and regulatory factors that shape structuring strategy. Through case studies, speakers walk through a LIHTC deal from strat to finish, examining decision points, execution challenges, and structuring approaches used to close complex deals.
Speaker(s)
- Wayne Michael, Senior Director of External Education and E-Learning, Novogradac & Company LLP
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| Thu 3:05 PM - 3:15 PM |
Break
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| Thu 3:15 PM - 4:00 PM |
Federal Tax Credits Today: Policy, Markets & Deal Implications
This session provides a strategic update on the federal tax credit landscape, examining legislative developments, program durability, and market conditions shaping deal structuring today. Participants will assess how current dynamics affect financing strategy across sectors.
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| Thu 4:00 PM - 4:55 PM |
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| Thu 4:55 PM - 5:00 PM |
Closing Discussion / Final Questions
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-Location
The Advanced Tax Credit Finance Course will take place on Zoom. The course will meet from 11:00-5:00 PM Eastern. Attendees must have access to a computer and the internet to attend the course. |
-Registration
This training course qualifies for the CDFA Training Institute's
Development Finance Certified Professional (DFCP) Program. Start down the road to personal and professional advancement today.
CDFA Foundation Scholarship Program
Scholarships are available for CDFA Members in need to attend CDFA Training Courses. Learn more about the
CDFA Foundation Scholarship Program and submit your application today.
Please note that the application deadline is two weeks prior to the course start date.
Group Discount
Organizations registering five or more attendees qualify for a group discount. Register four attendees at the full price, and each additional registration receives 50% off. To receive the discount, contact
info@cdfa.net before registering.
CDFA permits only one person to log in and participate in the course. If multiple people are accessing the course without paying to attend, we will terminate the connection and access.
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CDFA Member: $500
Non-Member: $825
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CDFA Member: $625
Non-Member: $950
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Register