Burlington Capital’s Victory Park Veterans Residence in Lincoln Honored with Affordable Housing Award From National Coalition
26th Annual Charles L. Edson Tax Credit Excellence Award recognizes best in affordable housing
Washington, D.C. – The Affordable Housing Tax Credit Coalition (AHTCC) today announced that Victory Park Veterans Residence in Lincoln, Neb., is a 2020 recipient of the Charles L. Edson Tax Credit Excellence Award in the Veterans category, recognizing affordable housing developments and organizations that have demonstrated especially impactful use of the Low-Income Housing Tax Credit (Housing Credit).
Announced each year from the nation’s capital, the awards honor Housing Credit developments that are strengthening communities, improving residents’ opportunity and boosting economies in urban, suburban and rural areas across the country. The awards come at a time when the COVID-19 pandemic and its economic impact have intensified the need for affordable housing, compounding the challenge facing at-risk families and individuals already struggling to pay rent.
“I would just like to congratulate Victory Park for the service they provide for our veterans,” said U.S. Senator Deb Fischer (R-Neb.), in a video statement, calling the Edson award “one more way we can thank our veterans for their service and sacrifice that they have given to our country. Thank you to our veterans and congratulations to Victory Park.”
“The Housing Credit continues to spur development of affordable homes that go above and beyond for the families they serve,” said AHTCC Executive Director Emily Cadik. “The Edson Award winners this year demonstrate how innovative and high-quality affordable housing can transform communities and help meet the need for education, child care, health care and other services vital to a community’s support system for at-risk families and individuals.”
Victory Park addresses an urgent community need with 70 new one-bedroom affordable homes for very-low income veterans of the United States Armed Forces. It is located on the 58-acre VA Historical Campus in Lincoln, which includes a VA hospital. All 70 units support project-based low-income housing vouchers, including either or both Veteran’s Affairs Supportive Housing (VASH) vouchers or Section 8 vouchers provided by HUD and the City of Lincoln Housing Authority. Numerous onsite services address health and wellness needs, build community among residents, and help residents to further their education. The development was made possible with the award of nearly $7 million in Housing Credits awarded by the Nebraska Investment Finance Authority.
Since 1986, the Housing Credit has financed more than three million homes for low-income households, including veterans, senior citizens, individuals with disabilities, essential workers, and families with children. Through public-private partnerships, the Housing Credit offers a proven track record of financing safe, decent affordable homes in communities where they are needed most.
“The Edson awardees highlight the creative and innovative solutions that exist to combat the nation’s lack of affordable housing,” said AHTCC President and WNC, Inc. Executive Vice President Michael Gaber. “As the impact of COVID-19 continues to create hardships for a growing number of families and working people across the country, now more than ever we need effective tools like the Housing Credit to provide stable, affordable homes.”
For more information about the 2020 Edson Awards, please visit taxcreditcoalition.org/edson-awards/.
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). AHTCC’s 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.