Community Development Award Winners Announced

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Novogradac Journal of Tax Credits to Present Awards at Chicago Conference

SAN FRANCISCO – The Novogradac Journal of Tax Credits today announced the winners of the 2015 Community Development QLICIs of the Year Awards, which recognize community development entities (CDEs) that made exceptional qualified low-income community investments (QLICIs) in the past year. Winners will be honored Oct. 21 at the Novogradac New Markets Tax Credit Conference in Chicago.

“I want to congratulate the winners and honorable mentions of the Community Development QLICIs of the Year Awards,” said Brad Elphick, CPA, conference chairman and partner in Novogradac’s Atlanta metro office. “In terms of execution, innovation and community impact, these transactions are among the best in the industry.”

Awardees were recognized in five categories:

Metro
Winner
CDE(s): Citibank NMTC Corporation and DV Community Investment LLC
Development: Muller Job Training Facility
Developer: The Doe Fund
Owner: The Doe Fund
Location: Bronx, N.Y.

Honorable Mention
CDE(s): AMCREF Community Capital and Banc of America CDE
Development: Goodwill Opportunity Campus LLC
Developer: Goodwill Industries of the Southern Piedmont
Owner: Goodwill Industries of the Southern Piedmont
Location: Charlotte, N.C.

Non-Metro
Winner
CDE(s): National New Markets Fund and Heartland Renaissance Fund
Development: BlueOak Arkansas
Developer: BlueOak Arkansas LLC
Owner: BlueOak Arkansas LLC
Location: Osceola, Ark.

Honorable Mention
CDE(s): Greenville New Markets Opportunity II LLC and Banc of America CDE
Development: TDC Cutting Tools / Greenfield Industries
Developer: TDC Greenfield Properties
Owner: TDC Greenfield Properties
Location: Seneca, S.C.

Operating Business
Winner
CDE(s): MuniStrategies LLC
Development: Winston Plywood & Veneer
Developer: Winston Plywood & Veneer LLC
Owner: New Wood Resources LLC
Location: Louisville, Miss.

Honorable Mention
CDE(s): ESIC New Markets Partners Limited Partnership, Urban Action Community Development LLC, Consortium America LLC, The Valued Advisors Fund LLC and United Fund Advisors LLC
Development: Atlantic Healthy Foods
Developer: Castellini Holding Company LLC
Owner: Castellini Holding Company LLC
Location: Ellenwood, Ga.

Real Estate
Winner
CDE(s): Low Income Investment Fund, Mid-City Community CDE, DV Community Investment LLC, SunTrust Community Development Enterprises LLC, MidWest Renewable Capital and National Trust Community Investment Corporation
Development: Crosstown Concourse
Developer: Kemmons Wilson Companies and Crosstown Arts
Owner: Crosstown Building Owner LLC
Location: Memphis, Tenn.

Honorable Mention
CDE(s): ESIC New Markets Partners Limited Partnership, Low Income Investment Fund and Banc of America CDE
Development: Remington Row Phase I
Developer: Seawall Development LLC
Owner: Seawall Development LLC
Location: Baltimore

Small Business
Winner
CDE(s): ESIC New Markets Partners Limited Partnership
Development: Care Alliance Central Clinic
Developer: Care Alliance Health Center
Owner: Care Alliance Health Center
Location: Cleveland

Honorable Mention
CDE(s): ESIC New Markets Partners Limited Partnership
Development: Erie HealthReach Waukegan Health Center
Developer: Erie Family Health Center Inc.
Owner: Erie Family Health Center Inc.
Location: Waukegan, Ill.

More information can be found at
http://www.novoco.com/awards/community_development/index.php

In addition to the Community Development QLICIs of the Year Awards, the Novogradac Journal of Tax Credits conducts several awards programs designed to recognize excellence in affordable housing, historic rehabilitation and renewable energy. Nominations for each program are open year-round and more information can be found at http://www.novoco.com/awards.

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 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 & Company’s more than 25 years of experience on the front lines of the tax credit industry.

Novogradac began operations in 1989 and has since grown to more than 500 employees and partners with offices in San Francisco, Walnut Creek and Long Beach, Calif.; Dover, Columbus and Cleveland, Ohio; St. Louis; Boston; New York; Chicago; Austin, Texas; Portland, Ore.; Naples, Fla., and the greater metropolitan areas of Philadelphia; Washington, D.C.; Atlanta; Detroit; Kansas City, Mo.; and Seattle.

Specialty practice areas include tax, audit and consulting services for tax-credit-assisted affordable housing, community revitalization, rehabilitation of historic properties and renewable energy. Other areas of expertise include business valuation, preparation and analysis of market studies and appraisals of multifamily housing investments and renewable energy tax credits.

For more information about the Novogradac Community Development QLICIs of the Year Awards, please contact Alexandra Bernard at (415) 356-7627, or by email at Alex.Bernard(at)novoco(dot)com.

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