Developments of Distinction Awards
The Novogradac Journal of Tax Credit Housing (JTCH) on December 3, 2009 honored the winners of its first annual JTCH Developments of Distinction at a special luncheon held in Las Vegas, Nev. The JTCH Developments of Distinction awards honor outstanding achievement in the development of tax credit housing. The awards recognized low-income housing tax credit (LIHTC) projects placed in service in 2008/2009 in three categories: those that had a major impact on their community; those that demonstrated financial innovation; and those that overcame significant obstacles in their development.
In the Community Impact category projects were asked to demonstrate that they had responded significantly to community need(s); established measureable benefits and success in meeting that/those need; employed the effective use of community resources; formed effective community partnership; achieved their objectives; instituted the use of innovative strategies in bringing benefits to its community; demonstrated benefits that outweighed costs; and set up successful strategies that can be repeated.
In the Financial Innovation category, nominees were asked to show that they had demonstrated financial innovation; employed the effective use of innovative financing options and strategies; proved measureable financial success; employed effective uses of financial partnerships; achieved their financial objectives; established replicable strategies and demonstrated benefits that outweighed costs
In the Overcoming Obstacles category, projects were asked to address whether they had achieved their objectives; used innovative strategies in overcoming their obstacles; employed strategies that can be repeated by others; formed effective partnerships with industry or community individuals and organizations or other entities that presented the obstacles; demonstrated benefits that outweigh costs; employed industry or community involvement and participation; and demonstrated skillful use of communications as a means to overcome obstacles.
2009 Award Recipients
The Novogradac Journal of Tax Credit Housing is a premiere national publication, read by affordable housing and tax credit professionals who turn to its pages for industry information and strategies. In January 2010, the JTCH will be renamed the Novogradac Journal of Tax Credits and will debut in a re-designed and expanded format that will include 80 full-color pages filled not only with low-income housing tax credit, LIHTC compliance, valuation, and tax-exempt housing bond industry news but also feature new markets, renewable energy, historic tax credit and HUD program coverage. To find out more about or to subscribe to the Novogradac Journal of Tax Credits, please visit www.novoco.com/products.
For further information on the JTCH Developments of Distinction please contact Jane Zastrow at JTCHawards@novoco.com, call Jane Zastrow at 415.356.8034 or visit Novogradac & Company LLP’s website and click on the JTCH Developments of Distinction button.
