Update from Michael Novogradac Regarding Novogradac’s Response to the COVID-19 Pandemic

To our valued clients, colleagues and other members of the tax credit community:

I write to provide you with an update to my March 12 statement. My partners, colleagues and I have been in direct contact with many of you since my last statement, and we are all heartened by the resiliency and determination that the members of the tax credit community have shown. Of course, we continue to keep all those who have been directly impacted by COVID-19 in our thoughts and prayers.

Shortly after my March 12 statement, we transitioned the remainder of Novogradac’s offices to “work-from-home” status. Our prior technical and logistical preparations paid off, and we were able to achieve this “mass migration” of sorts without disrupting our ability to continue providing excellent and responsive service to our clients.

Technology and preparedness is only part of the equation though. The can-do spirit of our employees and partners has really shone through during these challenging times. I could not be more proud of the uncomplaining and accommodating manner in which the entire Novogradac team has adapted to remote work, while still placing our clients’ needs first.

To help those in our nation who are struggling with layoffs, medicals bills and the myriad other financial and emotional impacts of this pandemic, the firm has greatly expanded its longstanding matching program with the American Red Cross. Our employees and partners have always admirably stepped up when others are in need, and we are pleased to be able to offer this vehicle to allow them to double the impact of their donation.

Lastly, the federal government’s response to COVID-19 has included legislative initiatives of historical proportion. Novogradac’s goal is to always be the preeminent resource for the affordable housing, community development and renewable energy communities, and to that end we have devoted a section of our website to providing useful links, summaries and guidance related to how COVID-19 is impacting those communities.  We encourage you to frequently visit our COVID-19 Resources page for the latest developments and guidance.

We will continue to provide updates such as this one from time to time during the course of the pandemic. Please also do not hesitate to reach out to me or one of my partners if you have any specific concerns or comments. Thank you for your continued support.