Accounting firm recognizes community development award winners

Awards to honor special achievement in the field of community development will highlight Novogradac & Company LLP's Multi-Credit Conference: Helping Communities Grow and Projects Thrive to be held October 2-3 at the Four Seasons Hotel in St. Louis, MO.

The Novogradac Community Development Foundation, created to recognize leadership and achievement in the New Markets Tax Credit program, will present the awards at a luncheon on October 2 during the firm's Multi-Credit Conference. Winners of the Community Development Awards will be chosen from projects nominated by Novogradac & Company LLP conference attendees, subscribers to the New Markets Tax Credit Report and others in the new markets tax credit industry and will illuminate and recognize excellence in individuals as well as community development entities (CDEs) that have made exceptional qualified low income community investments (QLICIs).

The conference will draw a wide range of new markets tax credit (NMTC) and rehabilitation tax credit (HTC) program participants, including accountants, attorneys, investors, developers, community development and historic preservation professionals, as well as government agency and not-for-profit representatives. The two-day event will explore using the NMTC and HTC to further community development and will provide a platform for those active in the industry to exchange ideas, catch up with news and legislation, and an opportunity to better understand these very important programs.

"The flexibility of the HTC and NMTC provide community development professionals with numerous opportunities to take advantage of the many great aspects of these programs," said Robert Thesman, conference chairman and Novogradac & Company LLP partner. "To do that, it is crucial we understand the programs' intricacies and the rules and regulations that must be followed to achieve success. We're just beginning to realize the full potential of these programs and as professionals we have an opportunity through events like these to explore, develop and make the most of them."

The conference agenda promises to delve into the state of the tax credit market, looking at the state and federal fronts and assessing how the market is impacting the tax credit industry. Sessions will explore the tax and legal aspects of tax credits, including partnership deal structures and negotiation of exit strategies; examine how to stretch project-reach by twinning and/or combining credits; and look into military conversions and the rehabilitation and preservation opportunities made possible by base closures. Industry veterans will also discuss how to locate equity for a small rehabilitation projects and will lead attendees through a single successful project, pointing out the decisions that were made and steps that were taken to reach a profitable conclusion.

The event will bring together professionals in the industry as well as newcomers eager to know more about tax credit programs. The pre-conference workshop: Historic Tax Credit Basics, to be held October 1, 2008, will serve as a refresher for veterans and an introduction for those just getting a foothold in the industry. Registration is separate and additional fees apply.

Conference details and the complete conference agenda can be found at the conference Web site.

About Novogradac & Company LLP

Novogradac & Company LLP, a national certified public accounting and consulting firm headquartered in San Francisco, CA, was named in 2008 by Accounting Today as one of the 100 Top Accounting Firms in the nation; in 2007 by Inside Public Accounting as one of the 25 best managed accounting firms in the country; and by the San Francisco Business Times as one of only five companies that for five consecutive years has made its list of the Fastest Growing Companies in the Bay Area. Novogradac & Company LLP has offices in metro Atlanta, GA, Washington, D.C. and Kansas City, MO; as well as in Austin, TX, Boston, MA, Dover, Columbus, and Cleveland, OH, Portland, OR, and Long Beach, CA. The firm maintains clients in a broad range of industries with major emphasis in the real estate sector, providing publicly and privately held national and multinational enterprises with audit, tax, valuation, trust and litigation support, computer consulting, and general consulting services.

For more information about Novogradac & Company LLP's Multi-Credit Conference: Helping Communities Grow and Projects Thrive, contact Jane Bowar Zastrow at 415.356.8034, or e-mail jane.zastrow@novoco.com.


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