2010 Novogradac Community Development Foundation Community Development Individual Award Recipients

Federal Legislator of the Year

Congresswoman Allyson Y. Schwartz

D-Penn.

Rep. Allyson Y. Schwartz

A former leading healthcare executive who served in the Pennsylvania Senate from 1990 to 2004, Congresswoman Allyson Schwartz is completing her 3rd term representing Pennsylvania’s 13th district. She was appointed to the House Ways and Means Committee after her second term and also serves on the House Budget Committee. She has developed a close working relationship with House Speaker Nancy Pelosi.

The Novogradac Community Development Fund  notes her emergence in 111th Congress as the leading congressional spokesperson for the federal historic tax credit. An original Democratic co-sponsor of the Community Restoration and Revitalization Act, her leadership has recruited 77 house co-sponsors including 13 of the members of the Ways and Means Committee. Given the timeliness of the HR 3715 bill’s energy efficiency incentives for historic tax credit developers, she has led the charge to include the bill’s efficiency supplement, an additional credit for HTC transactions that achieve a 30 percent energy efficiency improvement, in upcoming House energy tax legislation. When the initial Ways and Means draft did not include her provision, she used her committee co-sponsors to convince Chairman Sandy Levin to take a second look.

Coming from a city that derives significant economic benefit from the tourism attracted by its well-known historic landmarks, Rep. Schwartz understands the nexus between community development and historic preservation. Her understanding of the benefits of historic preservation has been shaped by her many years service on the Pennsylvania Historical and Museum Commission.  However, she tempers her advocacy for these community development tools with an eye to fiscal budget responsibility.

Please join us in congratulating Congresswoman Allyson Schwartz for the significant work she has done on behalf of the federal historic tax credit and community development.

State Legislator of the Year

State Senator Gloria Romero

Calif. - 24th District

Gloria Romero

We are delighted to present this next Novogradac Community Development Foundation award to a woman who this year introduced SB1316 in the California State Senate to create a state new markets tax credit to match the federal program

California State Senator Gloria Romero was elected to the 24th Senate District in 2001, representing East Los Angeles and the greater San Gabriel Valley.  Upon her election she was recognized as one of the hardest working members of the Legislature and quickly rose in leadership positions.  She was elected by her peers to serve as Democratic Caucus Chair and as Majority Leader—the first and only woman to ever hold that leadership position in the history of the California State Senate.

Senator Romero, in a letter to the Senate journal on the significance of this program and the opportunities for California, has urged other legislators to begin the Senate’s 2011-2012 session by focusing on new markets tax credits.  Earlier this year Senator Romero was honored for her efforts by the National Coalition on Capital at its annual meeting in Kentucky.

Senator Romero has also served on Public Safety, Health, Budget, and Human Services committees, among others and prior to her election to the Senate, she served as vice-president of the Los Angeles Community College Board of Trustees. In 1998 she was elected to the Los Angeles Charter Reform Commission and the California State Assembly where she served as Majority Whip.  She currently serves as the vice chair of the Legislative Womens Caucus.

We applaud Senator Romero on her efforts on behalf of the New Markets Tax Credit program and are pleased to honor her with the Novogradac Community Development Foundation State Legislator of the Year.

Public Legislator of the Year

Mayor Melvin "Kip" Holden

Baton Rouge, La.

Melvin “Kip” Holden

It is with great pleasure that we award the 2010 Novogradac Community Foundation Public Executive of the Year award to Mayor Melvin L. “Kip” Holden  of Baton Rouge, Louisiana and president of the parish of East Baton Rouge.

Upon his first-term inauguration in 2004 Kip embarked on an ambitious journey to revitalize Downtown Baton Rouge, create an arts and entertainment district and market Baton Rouge to the film and video industry. He has the city moving on a riverfront master plan that includes the redesign of a town square to provide more venues for arts and cultural activities. In 2006, Mayor Holden launched a new Economic Development Initiative for East Baton Rouge Parish that includes a partnership with the Baton Rouge Chamber of Commerce to market the parish, the opening of two minority business opportunity centers to help small businesses participate in Louisiana’s economic recovery, a micro-loan program and a bankers’ roundtable to assist small business development.

In 2007, Kip spear-headed the creation of the East Baton Rouge Redevelopment Authority  whose mission is to  transform the quality of life for all citizens who live, work and play in East Baton Rouge Parish.  The RDA, which began operation in February 2009, has quickly raised funds and developed programs to eliminate blight and catalyze investment in the parish’s underserved areas of and today is in the process of developing five community redevelopment plans, land banking tax adjudicated properties, and financing affordable housing and small business developments. 

Two of the major hurdles to urban redevelopment in East Baron Rouge parish have been real estate acquisition and access to development capital. The creation of the RDA and the procurement of New Markets Tax Credits squarely address these issues and the deployment of new markets tax credits by the East Baton Rouge CDE will result in at least $60 million in real estate development, all in the parish.

It is our pleasure to present the Public Executive of the Year award to Mayor-President Kip Holden.

Community Developer of the Year

Robert Miserez

Director
Missouri Development Finance Board

Robert Miserez

We are pleased to honor Robert Miserez, director of the Missouri Development Finance Board, with the 2010 Novogradac Community Development Foundation Community Developer of the Year Award for an individual who has helped make a New Markets Tax Credit project a reality. Through his work with MDFB, Bob orchestrated the New Markets Tax Credit financing of two symbolically and economically important developments in St. Louis — St. Louis Centre and One City Centre. The cost to redevelop these two properties exceeded $92 million and used $68 million in NMTC allocation.

St. Louis Centre, once the largest enclosed urban shopping center in the country and currently one of the city’s last major vacant properties, as well as the adjoining 25-story One City Centre office tower, are located within the heart of downtown St. Louis.

It is expected that the revitalization of the properties will be a boon to the city's continued redevelopment efforts, the creation of approximately 400 construction jobs and more than 400 new permanent jobs, the retention of 250 permanent employees in the heart of downtown, and the relocation of more than 100 jobs to the city. The collateral impact of retaining and creating jobs will create demand for services from existing downtown businesses, retail, and housing and is expected to catalyze additional investment in St. Louis City.

Bob worked with project sponsors the City of St. Louis, the Land Clearance Redevelopment Authority, St. Louis Development Corporation, Urban Development Fund, National Development Council, Consortium America, Brownfield Revitalization, CCG Community Partners, Great Southern Bank, Environmental Operations, Spinnaker Real Estate, Brady Capital, and U.S. Bank to make the structuring of the One City Centre and St. Louis Centre transactions work for all parties. The coordinated redevelopments of One City Centre and St. Louis Centre along with the support of NMTC financing and Recovery Zone Facility Bonds have ensured the viability of both properties and, more importantly, the improved perception and continued the economic revitalization of downtown St. Louis.

Our thanks and congratulations Bob for your tireless efforts in making these developments a reality and catalyst for more additional redevelopment efforts.

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