San Francisco (PRWEB) June 20, 2014
The deadline to nominate developments for the Novogradac Journal of Tax Credits Community Development Awards has been extended to July 17, 2014. The Community Development Awards honor community development entities (CDEs) that made exceptional qualified low-income community investments (QLICIs) through the New Markets Tax Credit (NMTC) program in the past year. Winners and honorable mentions will be recognized at an award ceremony during the Novogradac New Markets Tax Credit Conference on Oct. 23, 2014 at The Roosevelt Hotel in New Orleans, La.
“CDEs have implemented innovative approaches using the NMTC for community development to infuse much-needed private-sector capital in low-income neighborhoods,” said Brad Elphick, CPA, conference chair and partner in Novogradac’s metro Atlanta, Ga. office. “As Congress considers a variety of potential tax extender proposals, we’re pleased to honor CDEs through the Community Development Awards to showcase examples of how well-executed new markets tax credit investments can give economically underserved communities a chance to grow and thrive.”
Nominations will be accepted in five categories:
- Small business: The QLICI must have been made in a project occupied exclusively by the primary tenant with 50 or fewer employees.
- Operating business: The QLICI must have been made in a project occupied exclusively by the primary tenant with more than 50 employees.
- Real estate: The QLICI must have been made in entities whose predominant business activity is the development (including construction of new facilities and rehabilitation/enhancement of existing facilities), management or leasing of real estate.
- Metro: The QLICI must have been made in a project located in a metropolitan area as defined by the Community Development Financial Institutions (CDFI) Fund.
- Non-metro: The QLICI must have been made in a project located in a non-metropolitan area as defined by the CDFI Fund.
Nominations must be submitted by July 17, 2014 and are open to all CDEs with NMTC funding transactions closed in 2013 or 2014. A nominating entity may nominate multiple developments, and/or nominate developments for more than one category.
In addition to being honored in a ceremony at the Novogradac New Markets Tax Credit Conference, winners and honorable mentions of the Novogradac Journal of Tax Credits Community Development Awards will receive:
- One complimentary entry to the conference to receive the award;
- Coverage of the project in the Novogradac Journal of Tax Credits;
- Copies of the Journal of Tax Credits to share with industry contacts; and
- Recognition on the Novogradac & Company website and YouTube channel, and in a national press release about the event.
Nomination materials and more details about the Novogradac Journal of Tax Credits Community Development Awards are available at http://www.novoco.com/awards/community_development/index.php.
The Novogradac Journal of Tax Credits provides news, analysis and commentary on the affordable housing, new markets, renewable energy and historic rehabilitation tax credit industries. This comprehensive 80-page publication features columns written by industry experts, Q&As on technical tax credit issues, features about tax credit developments and more, all informed by Novogradac and Company LLP’s 25 years of experience on the front lines of the tax credit industry.
Novogradac & Company LLP began operations in 1989, and the allied group of Novogradac companies has since grown to more than 500 employees and partners with offices in San Francisco and Long Beach, Calif.; the Washington, D.C., Atlanta, Ga., Detroit, Mich., Kansas City, Mo. and Seattle, Wash. metro areas; St. Louis, Mo., Boston, Mass.; Austin, Texas; Dover, Columbus and Cleveland, Ohio; New York, N.Y.; and Portland, Ore. Specialty practice areas include tax, audit and consulting services for tax-credit-assisted multifamily and affordable housing, community revitalization and rehabilitation of historic properties. Other areas of expertise include military base redevelopment, preparation and analysis of market studies and appraisals of multifamily housing investments and renewable energy tax credits.
For further information about the Novogradac Journal of Tax Credits Community Development Awards, please contact Teri Baker at (415) 356-7995 or by email at Teri(dot)Baker(at)novoco(dot)com.