The Novogradac Journal of Tax Credits Honors Nine as Developments of Distinction

January 14, 2013

Outstanding Achievements in the Development of Tax Credit Projects Recognized

San Francisco, Calif. (PRWEB) January 14, 2013

The Novogradac Journal of Tax Credits honored the winners of its Developments of Distinction Awards at a luncheon held in Miami, Fla. on Jan. 10. The awards were presented before a large audience of affordable housing professionals attending the Novogradac Tax Credit Developers Conference.

“We´ve created these awards to bring attention to truly meaningful and innovative projects, and I continue to be amazed by the caliber of winners and nominees, each and every year,” said Michael J. Novogradac, managing partner of Novogradac & Company LLP. “It is inspiring that to hear stories of tireless perseverance and ingenuity in the name of serving residents in need and enriching communities as a whole. Congratulations to this year´s winners, and I invite all affordable housing developers to submit nominations next year.”

The 2013 awards recognize outstanding achievement in the development of projects using the low-income housing tax credit (LIHTC), 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, four winners and five honorable mentions, were placed in service in 2011/2012 and were recognized in one of four categories:

Low-Income Housing Tax Credit (LIHTC) or Section 1602 Project that best Exemplifies Major Community Impact

  •     Greenbridge Commons, Cleveland, Ohio.

o    Developed by Cleveland Housing Network and EDEN, Inc.

  •     Honorable Mention: Parkside Village, Franklin Township, N.J.

o    Developed by RPM Development Group

LIHTC or Section 1602 Project that Best Reflects Market Success in Overcoming Significant Obstacles

  •     Faubourg Lafitte, New Orleans, La.

o    Developed by L&M Development Partners, Enterprise Community Partners, Providence Community Housing

  •     Honorable Mention: Village at Westerly Creek, Aurora, Colo.

o    Developed by Housing Authority of the City of Aurora, Colo.

LIHTC or Section 1602 Project That Best Demonstrates Financial Innovation

  •     Toussin Sr. Apartments, Kentfield, Calif.

o    Developed by Petaluma Ecumenical Properties

  •     Honorable Mention: La Terraza, Bronx, N.Y.

o    Developed by CS Melrose Site B LLC

  •     Honorable Mention: Monarch Mills, Columbia, Md.

o    Developed by Howard County Housing and The Shelter Group

Tax Credit Project That Employs the Most Innovative Use of HUD Program Financing

  •     Armory Lane Apartments, Vergennes, Vt.

o    Developed by Housing Vermont and Addison Community Land Trust

  •     Honorable Mention: Cottonwood Place, Fremont, Calif.

o    Developed by Eden Housing, Inc.

Full descriptions of these 9 projects are available at http://www.novoco.com/low_income_housing/dod_awards.

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 Daniel Stern at daniel.stern(at)novoco(dot)com.

For the original version on PRWeb visit: http://www.prweb.com/releases/prwebNovogradac/DevelopmentsOfDistinction/prweb10319596.htm

Source: prweb

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