Novogradac Awards Recognize Outstanding Achievement in Use of New Markets Tax Credits

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Community Development Entities to be Honored at Novogradac Conference in New Orleans

The Novogradac Journal of Tax Credits announced the four winners of its 2016 Community Development QLICIs of the Year Awards, which recognize community development entities (CDEs) for making exceptional qualified low-income community investments (QLICIs) in the past year. Winners will be honored Oct. 20 at the Novogradac New Markets Tax Credit Conference in New Orleans.

“Winners of the 2016 Community Development QLICIs of the Year Awards have helped transform severely underserved areas by using one of the most proven economic development tools available: the new markets tax credit,” said Brad Elphick, conference chairman and partner at Novogradac & Company’s metro Atlanta office. “Each of these investments represents new jobs, new services and new opportunities in some of the communities that need them the most.”

Awardees were recognized in four categories:

Development: 800 West Broadway
CDE: Sunrise Banks NA
Developer: Sherman Associates
Owner: Sherman Associates
Location: Minneapolis

Development: Express Grain Terminals LLC
CDE: AMCREF Community Capital LLC, Hampton Roads Ventures LLC
Investor: U.S. Bancorp Community Development Corporation
Developer: Express Grain Terminals LLC
Consultant: Community Inspired Capital Development LLC
Owner: AMCREF Community Capital LLC
Location: Sidon, Miss., and Greenwood, Miss.

Operating Business
Development: North Fork Bioenergy Plant
CDE: Central Valley NMTC Fund
Developer: North Fork Community Power LLC
Owner: North Fork Community Power LLC
Location: North Fork, Calif.

Real Estate
Development: Studebaker Innovation Center
CDEs: National Trust Community Investment Corporation, Urban Research Park CDE LLC
Developer: StrongBox Commercial/Union Station Technology Center
Owner: RDistrict One LLC
Location: South Bend, Ind.

Descriptions of the 2016 Community Development QLICIs of the Year Awards winners can be found on the Novogradac website. The Novogradac Journal of Tax Credits conducts several award programs that 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

About Novogradac & Company
Novogradac began operations in 1989 and has since grown to more than 500 employees and partners with offices in San Francisco, San Rafael, Walnut Creek and Long Beach, Calif.; Dover, Columbus and Cleveland, Ohio; St. Louis; Boston; New York; Chicago; Austin and Dallas, Texas; Portland, Ore.; Naples, Fla., Raleigh, N.C.; Toms River and Iselin, N.J.; 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.

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Alexandra Bernard
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