MICHAEL BEARD, CPA
Development Consultant
Mr. Beard is a Housing Tax Credit Consultant with BETCO Housing Lab. His primary role is to assist clients with the application cycle of a proposed Housing Tax Credit development, through various roles which include site selection, debt and equity structuring, closing, construction planning and draw processing, and post awards activities [compliance]. He first entered the affordable housing industry in 2014 working for Novogradac & Company LLP. During his time at Novogradac & Company LLP, Mr. Beard’s responsibilities included managing an $800,000 book of business, comprised of multi-family and single-family residential rental projects (specifically related to the LIHTC industry and Section 42 of the Internal Revenue Code). He was responsible for managing the annual financial reporting process to satisfy lender and investor requirements, including completing annual state and federal tax returns, overseeing the entire process of the financial statement audits, completing 10% tests, final cost certifications, program compliance examinations, tenant file reviews, and a multitude of various compilations, reviews, and agreed upon procedures, from planning to conclusion.
He has extensive knowledge of the HTC program development life-cycle, operations of the residential real estate sector, and real estate accounting practices and procedures. He’s experienced in working with multiple federal and state agencies including USDA, HUD, TDHCA, and LHC, as well as funding sources which include CDBG, Section 8 HAP Contracts (both tenant and project based), 232, 221(d)(4), 223(f), HOME, TCEP, and RD 538. His background in finance and public accounting has given him a unique perspective in analyzing partnership agreements, security agreements, regulatory agreements, and loan documents, to help identify potential non-compliance issues, tax consequences, risk exposure identification, analysis and mitigation, and financial projections and proforma analysis.
Background:
Michael is a licensed CPA in the State of Texas. His background includes working for a public accounting firm that specialized in multi-family affordable housing development through the use of the low-income housing tax credit. His public accounting experience gave him a thorough understanding of IRC Section 42, which has equipped him with a unique perspective into the affordable housing world that has proven invaluable to his clients and the affordable housing development community as a whole. He is also currently serving as an elected Board Member for the Allandale Condo Owner’s Association, as the Board’s Treasurer.
