QLICIs of the Year Awards to Recognize Variety of NMTC Investments
SAN FRANCISCO, June 1, 2026 /PRNewswire/ — Sixteen community development entities (CDEs) are winners of the 2026 Novogradac Journal of Tax Credits QLICIs of the Year Awards. The awards are presented to CDEs involved in a qualified low-income community investment (QLICI) for an outstanding property or business. This year’s winning CDEs earned the awards for the following new markets tax credit (NMTC) investments in five categories:
- Metro QLICI of the Year: Kingswood Community Center in Wilmington, Delaware
- Nonmetro QLICI of the Year: Benn High Redevelopment in Bennington, Vermont
- Real Estate QLICI of the Year: Lotus Children’s Village in Miami, Florida
- Small Business QLICI of the Year: Stewart Glass in Logan, Ohio
- Operating Business QLICI of the Year: The Garden in Knightdale, North Carolina
The winners will be honored at the Novogradac 2026 Spring New Markets Tax Credit Conference, June 4-5 in Washington, D.C.
“I am proud to recognize these unique and impactful community development efforts on behalf of Novogradac,” said Greg Clements, CPA, a partner in Novogradac’s Dover, Ohio, office and chair of the conference. “These developments are emblematic of the importance of community development, as well as the value and necessity of the NMTC incentive.”
The WRK Group is building an 80,600-square-foot community center in Wilmington, Delaware. The Kingswood Community Center will feature an afterschool program, a children’s primary care health center, a sports and fitness center, senior center, multipurpose room, meeting spaces and office spaces. The facility is part of a broader redevelopment effort that also includes the construction of 724 mixed-income rental homes and 100 for-sale homes. The development received $43.8 million in combined QLICIs from six CDEs: Cinnaire New Markets LLC; MBS Urban Initiatives CDE LLC; Capital One Community Renewal Fund; Urban Action Community Development LLC; DV Community Investment LLC; and Grow America/HEDC New Markets Inc.
The former Bennington High School building in Bennington, Vermont, will be converted into a mixed-use development with child care, recreation, senior services, educational programming and housing. The project received QLICIs through three CDEs. Mascoma Community Development LLC contributed $15 million, Evernorth Rural Ventures Inc. contributed $14.2 million and National Trust Community Investment Corp. contributed $5 million.
The Lotus House Women’s Shelter in Miami’s Overtown neighborhood is expanding with the addition of Lotus Children’s Village, a 70,000-square-foot center to serve Lotus House families, as well as the community. Lotus Children’s Village will serve more than 2,500 children annually, providing trauma-informed, evidence-based programming. The development was made possible by QLICIs from three CDEs: Florida Community Loan Fund Inc. ($19 million), ESIC New Markets Partners Limited Partnership ($8.5 million) and U.S. Bancorp Community Development Corp. LLC ($4.5 million).
The former GE Lighting plant in Logan, Ohio, will be redeveloped into a Stewart Glass solar glass production facility. The original plant closed in 2022, resulting in 81 layoffs. The new facility occupies the former GE plant and the $33 million first phase operations are expected to support more than 100 jobs. Once fully operational, the facility will employ up to 200 workers. Stewart Glass plans to employ a significant number of workers displaced by recent plant closures. Advantage Capital provided a $1.5 million QLICI.
Raleigh Rescue Mission is building The Garden, a 76,256-square-foot campus for women and children experiencing situational homelessness, in Knightdale, North Carolina. The Garden will house up to 350 women and children in a structured six- to 12-month residency program. The property will also include a 15,000-square-foot children’s learning center called The Growing Place. The development received QLICIs from DV Community Investment ($8 million), Accion Opportunity Fund Community Development ($12 million), CAHEC New Markets LLC ($10 million), Nonprofit Finance Fund ($9.5 million) and Capital One Community Reinvestment Fund ($7 million).
Additional details about the award winners and information on how to nominate a development for the 2027 awards can be found at http://www.novoco.com/events/awards.
About Novogradac
Novogradac, which has been in business for 35 years, has grown to more than 850 employees and partners with offices in more than 25 cities. Tax, audit and consulting specialty practice areas for Novogradac include affordable housing, community development, historic rehabilitation and clean energy. For additional information on Novogradac’s personnel and areas of expertise, visit www.novoco.com or call (415) 356-8000.
View original content:https://www.prnewswire.com/news-releases/novogradac-to-honor-16-cdes-for-community-development-investment-efforts-at-upcoming-spring-new-markets-tax-credit-conference-302786804.html
SOURCE Novogradac & Company LLP
