Novogradac Journal of Tax Credits Announces 2018 QLICIs of the Year Awards

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The Novogradac Journal of Tax Credits will Honor CDEs in Austin, Texas, Oct. 18

“The winners not only are diverse in the businesses in which they invest, but geographically, too. They cover coast to coast.” - said Brad Elphick, CPA

The Novogradac Journal of Tax Credits today announced the winners of the 2018 Community Development QLICIs of the Year Awards. The awards ceremony will be at the Novogradac 2018 New Markets Tax Credit Fall Conference in Austin, Texas, Oct. 18.

The award recognizes community development entities (CDEs) that made exceptional qualified low-income community investments (QLICIs) in the past year under the New Markets Tax Credit program.

“The winners of the QLICI of the Year Awards show the diversity in the way CDEs make investments,” said Brad Elphick, CPA, chairman of the conference and partner in Novogradac & Company LLP’s metropolitan Atlanta office. “The winners not only are diverse in the businesses in which they invest, but geographically, too. They cover coast to coast.”

Awardees were recognized in four categories:

Operating Business

  • Winner: Carbon Conversions Inc. in Lake City, S.C.
  • CDE: AMCREF Community Capital
  • Honorable mention: Stony Creek Colors Inc. in Springfield, Tenn.
  • CDE: AMCREF Community Capital

Real Estate

  • Winner: The Monarch Mixed-Use Redevelopment in Ogden, Utah
  • CDEs: DV Community Investment LLC and Chase New Markets Corporation
  • Honorable mention: John C. Dunham Aurora Arts Center in Aurora, Ill.
  • CDEs: TCB CDE and BMO Harris Bank

Metro

  • Winner: Central City Concern’s Blackburn Building (Eastside Campus) in Portland, Ore.
  • CDEs: Corporation for Supportive Housing LLC and Low-Income Investment Fund LLC
  • Honorable mention: CrossPlex Village
  • CDEs: Empowerment Reinvestment Fund, Stonehenge Capital and Enhanced Capital

Non-Metro

  • Winner: The Yurok Tribal Community Forest and Salmon Fishery Preserve in Northern California
  • CDE: The Opportunity Fund
  • Honorable mention: Jones County School District
  • CDEs: AMCREF Community Capital and Boston Community Capital

Additional details about the awards winners and information on how to nominate a QLICI for the next round of awards can be found at http://www.novoco.com/events/awards.

About Novogradac & Company
Novogradac began operations in 1989 and has grown to more than 600 employees and partners with offices in 27 cities. Tax, audit and consulting specialty practice areas for Novogradac include affordable housing, community development, historic rehabilitation and renewable energy. The firm recently launched a new practice focused on the opportunity zones incentive.

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