Recognizing Community Development Leaders at NMTC Event
Acknowledging Outstanding Community Development Efforts
The Novogradac Journal of Tax Credits recently hosted its 2025 QLICIs of the Year Awards, celebrating eleven community development entities (CDEs) for their impactful contributions. These awards recognize CDEs that have engaged in significant low-income community investment (QLICI), showcasing extraordinary properties and ventures.
Showcasing the 2025 Award Winners
This year’s winners of the distinguished QLICIs awards reflect a robust selection of ventures across diverse categories. Notably, these winning CDEs were instrumental in facilitating investments that nurture community growth and uplift local economies in various sectors.
Metro QLICI of the Year
One of the highlighted projects is the Jackie-Joyner Kersee Food, Agriculture and Nutrition (JJK-FAN) Innovation Center, a vibrant initiative aimed at enhancing youth engagement and addressing essential issues like food access and health disparities. Located in a sprawling 80-acre campus, this innovative center is rooted in fostering future leaders from underrepresented backgrounds in the ag-tech and food systems sectors. Its first phase, amounting to $23.9 million, plans to establish facilities including classrooms, gardens, and commercial kitchens, leveraging a substantial $30 million in federal and state New Markets Tax Credits (NMTCs) to realize its objectives.
Nonmetro QLICI of the Year
Another commitment recognized is the Marshall County Career Innovation Center, designed to empower students from ten rural school districts with essential career technical education and training. The initiative aims to create substantial job placements exceeding 200 each year and provide educational opportunities for over 100 students. To support this endeavor, combined NMTC allocations of $10 million are ensuring the project’s impact.
Real Estate QLICI of the Year
The Rocky Boy Youth Wellness Center, located on the Rocky Boy Reservation, offers comprehensive services to promote youth wellness. With an investment of $30 million, this facility includes fitness spaces and educational areas designed to cultivate community health and create job opportunities.
Small Business QLICI of the Year
Bastion Wellness Center in New Orleans emerges as a vital addition to a low-income area, providing a health facility exclusively for veterans within a $12 million investment. This facility aims to enhance accessibility to wellness services while simultaneously generating vital jobs in the community.
Operating Business QLICI of the Year
The Rich Products Corporation is set to expand its manufacturing base in Brownsville, Texas, backed by a significant NMTC investment. The aim is to double current production capacity to meet growing market demand for diverse food products, evidencing a commitment to economic growth.
Honoring Community Leaders
These award-winning CDEs will be formally recognized at the upcoming Novogradac 2025 Spring New Markets Tax Credit Conference, celebrating their dedication towards community empowerment and development.
About Novogradac
Novogradac, with a vibrant history of 35 years, has evolved into a powerhouse with over 850 team members scattered across more than 25 cities. This firm specializes in tax, audit, and consulting services focusing on pivotal areas like affordable housing and renewable energy. For more detailed insights into Novogradac’s services or to connect with their experts, feel free to reach out or visit their official site.
Frequently Asked Questions
What are the QLICIs of the Year Awards?
The QLICIs of the Year Awards honor community development entities for their outstanding investments in low-income communities.
Who is eligible for the Novogradac awards?
Community development entities that engage in qualified low-income community investments are eligible for these prestigious awards.
When will the winners be recognized?
The winners will be honored at the Novogradac 2025 Spring New Markets Tax Credit Conference.
What role does Novogradac play in community development?
Novogradac provides essential tax, audit, and consulting services that support affordable housing, community development, and renewable energy initiatives.
How can one learn more about Novogradac?
For additional information, visit Novogradac's official website or contact their offices directly.
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