Novogradac Journal of Tax Credits Honors Outstanding Achievement in Community Development

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September 24, 2013

FOR IMMEDIATE RELEASE

NOVOGRADAC JOURNAL OF TAX CREDITS HONORS OUTSTANDING ACHIEVEMENT IN COMMUNITY DEVELOPMENT

Winners of Community Development Awards to Receive Nationwide Recognition at Novogradac & Company LLP’s New Markets Tax Credit Conference

SAN FRANCISCO – Novogradac & Company LLP is proud to announce the winners of the Novogradac Journal of Tax Credit’s 6th Annual Community Development Awards. The Community Development Awards honor individuals and organizations for excellence and special achievement in the field of community development. Awards will be presented before hundreds of community development entities (CDEs), investors and other development professionals at the Novogradac New Markets Tax Credit Conference on Oct. 10 in New Orleans.

“This year’s honorees demonstrate how the new markets tax credit program continues to play a pivotal role in strengthening the economic vitality of our nation’s distressed communities,” says Michael J. Novogradac, managing partner of Novogradac & Company LLP. “I congratulate the winners and look forward to celebrating their contributions to their communities at the upcoming New Markets Tax Credit Conference.”

The Community Development Awards, previously administered by the Novogradac Community Development Foundation, recognize individuals who have significantly contributed to the advancement of community development policy and legislation, and CDEs that have made exceptional qualified low- income community investments (QLICIs). Among the QLICIs that have been honored are investments in small businesses, operating businesses and real estate in metro and non-metro areas.

Individual award winners have made a strong impact in the community development field by assisting in the advancement of policy and legislative priorities at the local, state and federal levels. This year’s award-winning individuals are:

  • Federal Legislator of the Year: Sen. Roy Blunt, R-Mo.
  • State Legislator of the Year: Arkansas Sen. Jake Files, District 8
  • State Legislator of the Year: Louisiana House Speaker Pro Tem Walter Leger, District 91
  • Public Executive of the Year: Kathy Gelston, chief financial officer of Mississippi Housing Authority, and
  • Public Executive of the Year: Robert Rubinstein, acting director of Urban Housing Authority

    • The winning QLICIs were chosen for their vision and commitment to creating positive change and have made substantial economic contributions to low-income communities. The winning investments and their supporting CDEs are:

    Metro QLICI of the Year:

    • The Salvation Army Ray & Joan Kroc Corps Community Center Chicago
      • CDEs: Chicago Development Fund, CapFund New Markets LLC, Park National Bank Initiatives, and Consortium America LLC
    • Honorable Mention: Green City Growers Cooperative Inc.
      • CDEs: HEDC New Markets Inc., PNC New Markets Investment Partners LLC

    Non-Metro QLICI of the Year

    • Fiberight LLC
      • CDE: Midwest Renewable Capital
    • Honorable Mention: 4Points Laguna LLC – Pueblo of Laguna
      • CDE: Finance New Mexico LLC

    Operating Business QLICI of the Year

    • MiraclePlace
      • CDE: Florida Community Loan Fund Inc.
    • Zilkha Biomass Fuels
      • CDE: AMCREF Community Capital LLC
    • Honorable Mention: San Antonio Lighthouse for the Blind
      • CDE: San Antonio Lighthouse for the Blind

    Real Estate QLICI of the Year

    • Oxford Mills
      • CDEs: ESIC New Markets Partners Limited Partnership, Philadelphia Industrial Development Corporation, National Trust Community Investment Corporation
    • Honorable Mention: Monarch School
      • CDE: National Community Fund I LLC

    Small Business QLICI of the Year

    • St. Anthony Foundation
      • CDEs: Low Income Investment Fund and Bank of America
  • Honorable Mention: El Sol Santa Ana Science and Arts Academy of Santa Ana, Phase One
    • CDE: ExED Facilities XI LLC

The Novogradac Journal of Tax Credits is a national monthly publication read by affordable housing, community development and renewable energy professionals who turn to its pages for industry news and commentary. The Novogradac Journal of Tax Credits covers the low-income housing tax credit, property compliance, valuation, tax-exempt housing bonds, new markets tax credit, renewable energy tax credit, historic tax credits and HUD programs.

For further information on the Novogradac Journal of Tax Credits or the Community Development Awards, please contact Teri Baker at teri.baker@novoco.com.

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CONTACT
Rochelle Truong
(415)356-8000
cpas@novoco.com

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Source: Novogradac & Company, LLP