2018 Novogradac Journal of Tax Credits Community Development QLICIs of the Year Awards
Nominations for the 2018 round are due Tuesday, May 22, 2018.
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.
QLICIs being honored will have funding transactions that closed between June 14, 2017, and June 13, 2018.
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 (QALICB); (b) the purchase from a CDE of any loan made by such entity that is a QLICI; (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.
CDEs may be nominated for accomplishments in one or more of the categories listed below and may be a CDE with which the nominating entity was involved or simply one deemed deserving. A separate nomination is required for each category.
- 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 development 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 development 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.
Additionally, individuals may be nominated for the New Markets Tax Credit Champion award.
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