FOR IMMEDIATE RELEASE
Hollins House Recognized with National Honor for Excellence in Public Housing at the 24th Annual Charles L. Edson Tax Credit Excellence Awards
BALTIMORE, MD. (June 13, 2018) – Hollins House received honorable mention in the Public Housing category at the 24th Annual Charles L. Edson Tax Credit Excellence Awards (Edson Awards) by the Affordable Housing Tax Credit Coalition today in Washintgon, D.C.
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.”
Located two blocks west of the main University of Maryland graduate campus, Hollins House is a high rise apartment building of 130 affordable homes for seniors and individuals with disabilities. Developed by the Community Preservation and Development Corporation (CPDC) and the Housing Authority of Baltimore City (HABC), Hollins House is CPDC’s first redevelopment project in Baltimore. The development provides access to meals, health and nutrition education, technology, as well as cultural engagement and volunteer opportunities for residents in an effort to create enduring community connections. Honored at the Edson Awards, Hollins House is recognized for its impactful use of the Housing Credit as a powerful resource for community building.
“We are honored to have Hollins House receive such a prestigious and nationally recognized award,” said J. Michael Pitchford, President and CEO of CPDC. “This development helps to answer our community’s need for convenient access to critical services and affordable homes. The Low-Income Housing Tax Credit was essential to its renovation.”
“Hollins House demonstrates how this vital credit helps ensure access to affordable homes for Americans who need it the most,” said U.S. Senator Chris Van Hollen, who presented the award. “Hollins House did a great job of leveraging federal resources to allow more Maryland families, seniors, and individuals with disabilities to have a roof over their heads. I’m pleased to congratulate all of those involved on this much-deserved recognition, and I’ll keep fighting for investments to help people in our state and across the country.”
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 would further expand and strengthen the program.
Since it was signed into law by President Reagan, it has financed three million homes across the country, including 61,692 in Maryland, which have provided a stable foundation of opportunity to 143,742 families. Statewide, the Housing Credit has created 69,712 jobs, generated 6.64 billion in income, and $2.62 billion in tax revenues, which are reinvested across Maryland.
“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.”
About the Affordable Housing Tax Credit Coalition
Founded in 1988, AHTCC is a trade organization of housing professionals who advocate for affordable rental housing financed using the Low-Income Housing Tax Credit (Housing Credit). Our for-profit and non-profit members—including syndicators, investors, lenders, developers, legal and accounting professionals and state allocating agencies—seek to preserve, expand and improve the Housing Credit and complementary programs through legislative outreach and education. The Coalition, a nonprofit corporation chartered under the laws of the District of Columbia, is governed by an elected Board of Directors. Please visit www.taxcreditcoailtion.org for more information about the Affordable Housing Tax Credit Coalition.
About the Low-Income Housing Tax Credit
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 program. 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 would further expand and strengthen the program.
About the Charles L. Edson Tax Credit Excellence Awards
Given annually by the Affordable Housing Tax Credit Coalition, The Edson Awards are named for Charles L. Edson, an affordable housing luminary who was Transition Director for the U.S. Department of Housing and Urban Development (HUD) on President Carter’s Transition Staff. Mr. Edson served in the Office of the General Counsel at HUD and served as Co-Editor-in-Chief of Housing and Development Reporter for nearly 40 years. He is a founding partner of the law firm Lane and Edson, and was later a partner of Nixon Peabody LLP.