SAN FRANCISCO (PRWEB) September 19, 2014
The Novogradac Journal of Tax Credits today announced the winners of the 2014 Community Development Awards, which recognize exceptional achievement in community development using the new markets tax credit (NMTC). Winning investments and their development teams will be honored in a ceremony at the Novogradac New Markets Tax Credit Credit Conference, Oct. 23-24, 2014 at The Roosevelt Hotel in New Orleans, La.
“We’re proud to congratulate this year’s winners of the Novogradac Community Development Awards,” said Brad Elphick, CPA, conference chair and partner in Novogradac’s metro Atlanta, Ga. office. “The winning investments showcase how versatile the new markets tax credit is in serving the unique needs of underserved communities across the country.”
Community development entities (CDEs) were recognized in five categories:
- Winner: Tec Centro
o CDE: Community First Fund
o Developed by SACA Development Corporation
- Honorable Mention: Michigan Renewable Carbon
o CDEs: National New Markets Fund and Chase New Markets Corporation
o Developed by Biogenic Reagents LLC
- Winner: Recleim SC LLC
o CDEs: AMCREF Community Capital LLC and SunTrust Community Development Enterprises LLC
o Developed by Recleim LLC
- Honorable Mention: Alabama Aircraft Support LLC
o CDEs: MuniStrategies LLC and Stonehenge Community Capital LLC
o Developed by BrightWater Partners LLC
- Winner: Triangle Plaza Hub
o CDEs: GS New Markets Fund LLC, Low-Income Investment Fund New Markets LLC and National
Community Fund I LLC
o Developed by Triangle Equities
- Honorable Mention 1: Flint Health and Wellness District
o CDEs: Nonprofit Finance Fund, Dakotas America and Chase New Markets Corporation
o Developed by Uptown Reinvestment Corporation
- Honorable Mention 2: Kent Corner
o CDE: SunTrust Community Development Enterprises LLC
o Developed by Chapel Hill Street Development LLC, an affiliate of Self-Help Ventures Fund
- Winner: Broadway Marketplace at the George Washington Bridge
o CDEs: Low Income Investment Fund, DV Community Investment LLC (DVCI) and GS New Markets Fund
o Developed by SJM Partners Inc. and Slayton Ventures
- Honorable Mention: The Poverello Center
o CDE: Montana Community Development Corporation
o Developed by The Poverello Center Inc.
- Winner: Makah Dock
o CDE: National Development Council
o Developed by Makah Indian Tribe
- Honorable Mention: Educare Winnebago
o CDE: Travois New Markets LLC
o Developed by: Winnebago Tribe of Nebraska
Developments eligible for consideration were placed in service in 2013 or 2014. Full descriptions of the winning developments can be found 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 monthly 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’s 25 years of experience.
Novogradac 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.; Portland, Ore.; Naples, Fla. and Chicago, Ill. Specialty practice areas include tax, audit and consulting services for tax-credit-assisted multifamily and affordable housing, community revitalization, rehabilitation of historic properties and renewable energy developments.
For more information about the Novogradac Journal of Tax Credits Community Development Awards, please contact Teri Baker at (415) 356-7995 or by email at Teri.Baker(at)novoco(dot)com.