San Francisco, Calif. (PRWEB) January 13, 2012
The Novogradac Journal of Tax Credits today honored the winners of its third annual Developments of Distinction at a breakfast banquet held in Miami, Fla. The award presentations were made before a large audience of affordable housing professionals attending Novogradac & Company LLP’s 18th annual Tax Credit Developers Conference.
“Each year we gather to honor the best and the brightest in the tax credit industry, and each year I’m amazed at the caliber of so many deserving projects; this year’s winners truly are members of an elite group,” said Michael J. Novogradac, managing partner of Novogradac & Company LLP. “It is heartening that there are so many deserving housing, historic and renewable energy tax credit developments being built to serve residents in need and, more broadly, serve communities in which they are located. I congratulate this year’s winners and invite all with a housing, historic and renewable energy development to enter next year.”
The awards recognize outstanding achievement in the development of projects using the low-income housing tax credit (LIHTC), historic tax credit (HTC), renewable energy tax credit (RETC), Section 1602 Exchange Program grant funds and/or tax credit projects using U.S. Department of Housing and Urban Development (HUD) program financing. Award-winning tax credit projects, seven winners and six honorable mentions, were placed in service in 2010/2011 and were recognized in one of six categories:
Most Meaningful and Distinctive Historic Tax Credit Project That Has Served as a Major Catalyst for Further Community Development
Most Innovative Use of U.S. Department of Housing and Urban Development Financing in a Project
Low-Income Housing Tax Credit (LIHTC) Project That Best Exemplifies Major Community Impact
LIHTC Project That Best Reflects Market Success in Overcoming Significant Obstacles
LIHTC Project That Best Demonstrated Financial Innovation
Most Effective and Innovative Renewable Tax Credit Energy Project That Has Had a Positive Impact on Job Creation and its Community’s Energy Footprint
Full descriptions of the 13 projects are available at http://www.novoco.com/dod.php.
The Novogradac Journal of Tax Credits is a leading national publication read by affordable housing and tax credit professionals who turn to its pages for industry information and news. This comprehensive, 80-page full-color publication covers not only the LIHTC, LIHTC compliance, valuation, and tax-exempt housing bond industries but also includes coverage of new markets, renewable energy and historic tax credits and HUD programs.
For further information on the Novogradac Journal of Tax Credits or the Developments of Distinction Awards, please contact Jane Bowar Zastrow at jane(dot)zastrow(at)novoco(dot)com.