Novogradac Awards LIIF “Operating Business QLICI of the Year” for POTS
LIIF received a Novogradac Community Development Award for its work on the Part of the Solution (POTS) project in New York. The award was presented at the Novogradac & Company LLP’s New Markets Tax Credit (NMTC) Investors Conference in October. LIIF received the Operating Business QLICI of the Year Award for providing an $8.8 million NMTC allocation to help POTS expand into a new facility. JPMorgan Chase provided a $2.4 million equity investment for the deal. POTS provides hot meals and social services to 10,000 low income Bronx residents annually in an area where 42% of residents struggled to find food last year.
Earlier this year, LIIF hosted a groundbreaking event for POTS, which was attended by local political officials including Congressman Jose Serrano.