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
(Tie) Appleton Mills, Lowell, Mass.
o Developed by Trinity Financial Inc.
(Tie) St. Thomas Community Health Center, New Orleans, La.
o Developed by St. Thomas Community Health Center
Honorable Mention: The Historic Park Inn & City National Bank Bldg., Mason City, Iowa
o Developed by Wright on the Park Inc.
Most Innovative Use of U.S. Department of Housing and Urban Development Financing in a Project
St. Giles, Pinellas Park, Fla.
o Developed by BREC Development LLC
