Michael Novogradac Named to Affordable Housing Hall of Fame

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Head of Accounting, Consulting Firm One of Four Inductees

Michael J. Novogradac, CPA, managing partner of Novogradac & Company LLP and a pioneer in the modern affordable housing industry, is one of four 2016 inductees to the Affordable Housing Hall of Fame. The four newest members will be recognized Nov. 15-17 at the AHF Live: The Affordable Housing Developers Summit, in Chicago.

Mr. Novogradac is joined in the honor by Sen. Maria Cantwell, D-Wash.; Tony Salazar of development firm McCormack Baron Salazar and longtime housing leader and philanthropist J. Ronald Terwilliger.

“Michael Novogradac has helped shape not only how the business of affordable housing is conducted, but how the entire industry functions,” said Rick Hutchins, a member of the Novogradac & Company LLP’s executive team. “He has contributed to the progress and growth in nearly every aspect, from assisting a range of clients to influencing legislation to educating the affordable housing community and policymakers.”

In announcing his selection, Affordable Housing Finance lauded Mr. Novogradac’s leadership in the industry and his firm’s role as “a major industry resource through books, conferences, podcasts and advocacy efforts.”

Mr. Novogradac’s selection was applauded in the affordable housing industry.

“Michael has been a spokesman and advocate for the low-income housing tax credit for decades,” said Michael Costa, president and CEO of Highridge Costa Companies, a longtime client and colleague of Mr. Novogradac. “This honor is overdue. Michael educates thousands of people every year. He’s an icon in the business.”

David Sebastian, president of The Wentwood Companies, whose relationship with Mr. Novogradac began in the 1980s, echoed Costa’s praise.

“From an industry perspective, Michael is one of our greatest technicians,” said Sebastian. “In addition, he has been a strong business developer and leader within the Novogradac platform. When you combine that with the fact that he’s really done a tremendous service to our industry in terms of his legislative work in Washington D.C., in solidifying the position of the housing tax credit, the new markets tax credit and other tax-advantaged investments, he is truly unique. The industry should be grateful for what he does.”

The four new selections bring the membership in the Affordable Housing Hall of Fame to 52, representing elected officials, members of the executive branch, major developers, industry leaders, state agency administrators and housing advocates.

Novogradac & Company LLP began operations in 1989 and has grown to more than 500 employees and partners with headquarters in San Francisco and offices in Walnut Creek and Long Beach, Calif.; Dover, Columbus and Cleveland, Ohio; Iselin and Toms River, N.J.; Austin and Dallas, Texas; St. Louis; Boston; New York; Chicago; Portland, Ore.; Naples, Fla., Raleigh, N.C.; and the greater metropolitan areas of Philadelphia; Washington, D.C.; Atlanta; Detroit; Kansas City, Mo.; and Seattle. Novogradac was recently named the INSIDE Public Accounting’s (IPA’s) list of the “Best of the Best” firms for the 14th time. It also grew to the 30th largest accounting firm in the nation, according to IPA.

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 business valuation, preparation and analysis of market studies and appraisals of multifamily housing investments and renewable energy tax credits.

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Rick Hutchins, CPA
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