June 21, 2012

NNMF Project San Antonio Food Bank Project Recognized In National Award Competition

SDS’ National New Markets Fund, LLC (NNMF) was recognized for its San Antonio Food Bank project in the Novogradac Community Development Foundation 5th annual Community Development Awards.  The winners were honored at a ceremony in New Orleans, LA in October.  NNMF won an Honorable Mention in the category of Metro QLICI of the Year.  NNMF invested $14 million in New Markets Tax Credits for the Food Bank’s expansion.  The non-profit Food Bank provides food and grocery products to more than 500 partner agencies in 16 counties throughout Southwest Texas and helps feed more than 58, 000 people each week.

The awards recognize and celebrate excellence in individuals, as well as community development entities like NNMF, that make exceptional qualified low-income community investments.  The awards were presented before a large audience of community development professionals attending Novogradac & Company LLP’s New Markets Tax Credit Conference.

“The NCDF’s award winners and honorable mentions serve as truly inspiring examples of the innovative and effective ways in which the New Markets Tax Credit program has helped to serve the economic needs of distressed communities throughout the country,” said Michael J. Novogradac, managing partner of Novogradac and Company LLP.

For more on the awards, visit https://www.novoco.com/new_markets/ncdf_awards/index.php

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