WASHINGTON – Today, the Affordable Housing Tax Credit Coalition announced the winners of the 24th Annual Charles L. Edson Tax Credit Excellence Awards (Edson Awards). POAH's Billings Forge Apartments was selected as a winner in the HUD Preservation Properties category.
The Edson Awards take place each year on Capitol Hill, bringing together members of Congress, business, and nonprofit leaders to honor Low‐Income Housing Tax Credit (Housing Credit) developments that are strengthening communities, improving health, and boosting the economy in urban, suburban and rural areas nationwide.
“We convene each year to shine a spotlight on excellence in the affordable housing industry,” said Michael Gaber, President of the Affordable Housing Tax Credit Coalition. “The Edson Awards honor the developments that take every opportunity to make innovative use of the Low‐Income Housing Tax Credit as a tool for public and private collaboration, investment and community revitalization.”
The Housing Credit was created as part of the Tax Reform Act of 1986, and today is widely regarded as the nation’s most successful housing production tool. The Housing Credit has financed more than 3 million affordable apartments through public‐private partnerships, and supports 96,000 jobs each year, mostly in the small‐business sector. It has earned strong bipartisan support, and was recently preserved in the Tax Cuts and Jobs Act of 2017, and expanded and strengthened in the omnibus spending bill for fiscal year 2018. The broadly‐supported Affordable Housing Credit Improvement Act, currently up for debate, would further expand and strengthen the program.
“The Edson Awards honor developments that harness the Housing Credit to strengthen America’s communities and provide homes that transform the lives of low‐income families, veterans, seniors and people with special needs,” said Emily Cadik, Executive Director of the Affordable Housing Tax Credit Coalition. “The winners honored today exemplify why the Housing Credit is smart policy, and why Congress should expand and strengthen this proven tool.” The following Housing Credit developments received awards and honorable mentions: