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New partnership gives leg-up to tax credit professionals.

The National Association of Home Builders (NAHB) has teamed up with the Institute of Real Estate Management (IREM) to greatly expand opportunities for tax credit professionals to earn NAHB's Housing Credit Certified Professional (HCCP) designation.

The partnership will enable developers, property managers, asset managers, and others seeking to earn the premier designation in the Low-Income Housing Tax Credit industry to take the exam through IREM. In addition, IREM plans to develop one or more courses to support the designation and to promote the HCCP among its membership.

"We are delighted to partner with IREM, which is well-known and tremendously respected for their real estate management education programs," said Cara Wallo, Virginia Housing Development Authority, chair of the HCCP Board of Governors, which oversees the program for NAHB

Added IREM president Robert Toothaker, "We at IREM champion those who aspire to professional excellence through education and certification. Coupling IREM's education expertise with the NAHB's highly regarded certification for LIHTC managers is an ideal combination."

NAHB created the HCCP designation 1998 as a way to recognize the specialized skills and expertise needed to own and manage affordable housing developed under the auspices of the federal Low Income Housing Tax Credit Program.

The tax credit housing industry, including regulatory agencies, now look to the HCCP designation as a benchmark representing the highest level of competency and knowledge as well as a commitment to the highest ethical standards.

Affordable housing professionals, with a minimum of two years experience, can earn the HCCP designation by passing the HCCP exam, which covers development, management and compliance issues as well as Section 42 policy. They are also required to take 10 hours of housing tax credit education.

Until now, the exam has been offered only through NAHB and a network of private trainers and distributors. The new agreement with IREM to be a distributor offers those seeking the designation a much wider network and greater access to the HCCP exam.
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Publication:Real Estate Weekly
Date:Dec 13, 2006
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