September 25, 2013

SAN FRANCISCO – HEDC New Markets Inc is proud to announce that it has been recognized by the Novogradac Journal of Tax Credits for its outstanding contributions in the community development field. Green City Growers Cooperative, developed by Evergreen Cooperatives, received an honorable mention as the Metro QLICI of the Year and serves as a leading example of how community development projects funded by the New Markets Tax Credit program continue to strengthen the economic vitality of low-income communities across the nation.

HEDC New Markets Inc, along with other honorees, will be presented its award at the Community Development Awards Ceremony before hundreds of community development professionals attending the Novogradac New Markets Tax Credit Conference in New Orleans on Oct. 10.

Each year, the Community Development Awards honor community development entities (CDEs) that have made exceptional community development investments in small businesses, operating businesses and real estate, as well as in metro and non-metro areas. Individuals who have made significant contributions in the community development field are also being recognized for their remarkable successes.

“This year’s awardees have shown dedication to strengthening the economic vitality of our nation’s distressed communities through their commitment to the new markets tax credit at the federal, state and local level,” says Michael J. Novogradac, managing partner of Novogradac & Company LLP. “I congratulate the winners and look forward to celebrating their contributions to their communities at the upcoming New Markets Tax Credit Conference.”

The Novogradac Journal of Tax Credits is a national monthly publication read by affordable housing, community development and renewable energy professionals who turn to its pages for industry news and commentary. The Novogradac Journal of Tax Credits covers the low-income housing tax credit, property compliance, valuation, tax-exempt housing bonds, new markets tax credit, renewable energy tax credit, historic tax credits and HUD programs.

Novogradac & Company LLP was founded in 1989, and has since grown to more than 400 employees and partners in offices in San Francisco and Long Beach, Calif.; the Washington,

D.C., Atlanta, Ga., Detroit, Mich., Kansas City, Mo. and Seattle, Wash. metro areas; St. Louis,

Mo.; Boston, Mass.; Austin, Texas; Dover, Columbus and Cleveland, Ohio; New York, N.Y. and Portland, Ore. Specialty practice areas include tax, audit and consulting services for tax-credit-assisted multifamily and affordable housing, community revitalization and rehabilitation of historic properties. Other areas of expertise include military base redevelopment, preparation and analysis of market studies and appraisals of multifamily housing investments and renewable energy tax credits.

For further information on the Novogradac Journal of Tax Credits or the Community Development Awards, please contact Teri Baker at teri.baker@novoco.com.