(TEMPE, Ariz. - May 14, 2012) - Adolfson & Peterson Construction (A&P) is pleased to announce two Arizona projects have been named winners of the 18th Annual Charles L. Edson Tax Credit Excellence Awards. Presented to the most outstanding Low Income Housing Tax Credit (Housing Credit) properties in six categories, this national awards program celebrates the best in affordable rental housing.
According to AHTCC, The Coalition recieved 55 applications from 24 states this year. A panel of five judges selected six first place finishers and ten honorable mentions. Categories include: Metropolitan/Urban Housing, Rural Housing, Special Needs Housing, Senior Housing, Green Housing and Public Housing.
A&P was involved in two of the winning projects:
Metropolitan/Urban Housing Winner: Devine Legacy on Central, Phoenix, Arizona
Special Needs Housing Winner: Apache ASL Trails Apartments, Tempe, Arizona
Each winner will be recognized at a Capitol Hill luncheon ceremony on Thursday, June 21, 2012. This year’s judging panel included Dan Mendelson, DTM & Associates (chair); Lauren Bazel, Office of the Honorable John F. Kerry (D-MA); Ethan Handelman, National Housing Conference; Ted Simpson, Nebraska Investment Finance Authority; and Deborah VanAmerongen, Nixon Peabody LLP.
Source: Affordable Housing Tax Credit Coalition - Press Release (May 2012)
The Affordable Housing Tax Credit Coalition represents syndicators, developers, lenders, institutional investors, nonprofit groups, public agencies, and other allied professionals (including accountants, lawyers, and compliance specialist) concerned with the Housing Credit program. The Coalition, a nonprofit corporation chartered under the laws of the District of Columbia, is governed by an elected Board of Directors. Please visit www.taxcreditcoailtion.org for more information about joining the Affordable Housing Tax Credit Coalition.
The Housing Credit program was created as part of the Tax Reform Act of 1986. Today, the Housing Credit is widely regarded as the nation’s most successful housing production program ever, resulting in the construction and rehabilitation of more than 2.6 million housing units for low- and moderate-income Americans. In addition to producing housing, the Credit also contributes to the revitalization of distressed low-income communities and creates needed jobs. It is estimated that building 100 multifamily units generates 116 local jobs during the first year of construction and 46 jobs every year thereafter.