Community Development Awards

Nomination cutoff for the 2015 awards: July 13, 2015

 

Criteria | Nominate | Recipients

The Novogradac Journal of Tax Credits Community Development QLICIs of the Year Awards recognize community development entities (CDEs) that made exceptional qualified low-income community investments (QLICIs) in the past year.

The awards honor CDEs that exhibit a well-executed vision and measurable community impact as well as those that show a commitment to establishing positive change in bringing more people and places into the economic mainstream. Projects being honored will have funding transactions that closed in 2014 or 2015.

A QLICI is a Qualified Low-Income Community Investment which means (a) any capital or equity investment in, or loan to, any Qualified Active Low-Income Community Business; (b) the purchase from a CDE of any loan made by such entity that is a Qualified Low-Income Community Investment; (c) financial counseling and other services to businesses located in, and residents of Low-Income Communities; and (d) any equity investment in, or loan to, any CDE.

Award Categories

CDEs may be nominated for accomplishments in the categories listed below and may be a CDE with which the nominating entity was involved or simply one deemed deserving. A nominating entity may nominate more than one CDE.

  • Small Business: The QLICI must have been made in a project occupied exclusively by the primary tenant with 50 or fewer employees.
  • Operating Business: The QLICI must have been made in a project occupied exclusively by the primary tenant with more than 50 employees.
  • Real Estate: The QLICI must have been made in entities whose predominant business activity is the development (including construction of new facilities and rehabilitation/enhancement of existing facilities), management or leasing of real estate.
  • Metro: The QLICI must have been made in a project located in a metropolitan area as defined by the CDFI Fund.
  • Non-Metro: The QLICI must have been made in a project located in a non-metropolitan area as defined by the CDFI Fund.

Nomination Criteria

Community Development QLICIs of the Year nominations will be judged on the following criteria that apply to each award category:

  • Mission
  • Community impact
  • Innovative financing
  • Achievement of goals

A panel of judges with wide-ranging expertise in the new markets tax credit industry will review all entries and judge the developments based on the criteria listed above.

Deadline for Nomination Submission

Nominations will be accepted until July 13, 2015. Nominations submitted after that date may be considered for the subsequent award round. Novogradac & Company will attempt to reach the contact person for an incomplete nomination for further information. All submissions must be complete before a nomination will be accepted.

Nomination Requirements

All nominations must include a completed nomination form, narrative statement, supplemental materials (minimum of three), and hand-signed limited release agreement.

The narrative statement should be no more than 1,000 words. This narrative should describe how the development meets one or more of the criteria listed above.

At least three supplemental materials (i.e., photos, renderings, architectural plans, marketing information sheets) should also be submitted to document the development’s qualities. Submitted photographs, renderings and other image files must be at least 300 dpi+ and at least 7.5 x 8.5 inches or larger.

A limited release agreement must be completed. Only one form is needed for each nomination; please list each supplemental material on the form.

To submit a nomination, all materials including the nomination form, release agreement(s) and supplemental materials must be uploaded to ShareFile.

Award Recipients

Recipients and honorable mentions of the Novogradac Journal of Tax Credits Community Development QLICIs of the Year Awards, and their development teams, will be honored during a ceremony at the Novogradac New Markets Tax Credit Conference, October 21-22, 2015, in Chicago, Ill., at the Hyatt Regency Hotel.

Award recipients receive:

  • One complimentary entry to the conference to receive the award;
  • Coverage of the project in the Novogradac Journal of Tax Credits;
  • Copies of the Journal of Tax Credits to share with industry contacts;
  • Recognition on the Novogradac & Company website and YouTube channel, and in a national press release about the awards; and,
  • A press release for distribution.

Comments or questions can be directed by e-mail to awards@novoco.com or by phone to Alexandra Bernard at 415-356-7627.

About the Novogradac Journal of Tax Credits

The Novogradac Journal of Tax Credits provides news, analysis and commentary on the affordable housing, new markets, renewable energy and historic rehabilitation tax credit industries. This comprehensive 80-page full-color monthly publication covers the low-income housing tax credit, property compliance, valuation, tax-exempt housing bonds, new markets tax credit, renewable energy tax credit, historic tax credits and HUD programs. Readers enjoy access to columns written by industry experts, Q&As on technical tax credit issues, features about tax credit developments and more, all informed by Novogradac and Company's more than 20 years of experience on the front lines of the tax credit industry.