For Immediate Release Contact: Sarah Pritts, Family Scholar House (502) 552-0367 firstname.lastname@example.org Family Scholar House Receives Edson Tax Credit Excellence Award Louisville, KY (June 2, 2010) – Today, Family Scholar House received the Charles L. Edson Tax Credit Excellence Award for Special Needs Housing for its development of the Louisville Scholar House campus. This was the 16 th annual presentation of the Charles L. Edson Tax Credit Excellence Awards by the Affordable Housing Tax Credit Coalition (AHTCC) and the first award to be received by a Louisville nonprofit organization. As a national award program, the Edson awards celebrate the best in affordable rental housing development across the country. Participating in the award presentation at the Capitol Hill luncheon ceremony were Rebecca Byers, Director of Federal Affairs for the City of Louisville, and Julie Carr, Chief of Staff for Congressman John Yarmuth. Jacob Brown of Marian Development Group was there as the consultant for the project and PNC Bank representatives were recognized for nominating the project for award consideration. Louisville Scholar House, a Low Income Housing Tax Credit Property, is the first campus of Family Scholar House, a nonprofit organization with a mission to end the cycle of poverty by giving single-parent students the support they need to earn a four-year college degree. At Louisville Scholar House, all of the residents have incomes below 50% of area medium income but all are working diligently to change their circumstances by achieving the education necessary for career-track employment and self-sufficiency. “We are honored by the recognition of the AHTCC for our supportive housing program and wish to share this success with the student parents using the opportunities in our program to create a bright future for themselves and their children as well as with the Louisville community for being friends to our organization and to our families,” said Cathe Dykstra, President & CEO of Family Scholar House. One long-time friend of the program, Congressman John Yarmuth said, “I'm thrilled to see The Family Scholar House receive national recognition for their innovative and comprehensive approach to providing families with the resources they need to reach their dreams. Graduates not only have a strong track record of successfully achieving financial independence but often go on to earn advanced degrees and return to the Family Scholar House to help others thrive.” “This housing complex is a wonderful addition to the Louisville community, and a great resource for single parents pursuing a college education while raising a family,” said Chuck Denny, regional president at PNC, which provided $7.9 million in financing for this project. “The collaboration on this project, involving a variety of businesses and community organizations, demonstrates the benefits of aggregating resources and expertise to secure a better future for families in our neighborhoods.” The Affordable Housing Tax Credit Coalition represents syndicators, developers, lenders, institutional investors, nonprofit groups, public agencies, and other allied professionals concerned with the Housing Credit program. The Coalition, a nonprofit corporation chartered under the laws of District of Columbia, is governed by an elected Board of Directors. Today, the Housing Credit program is widely regarded as the nation’s most successful housing production program ever, resulting in the construction and rehabilitation of more than 2 million housing units for lower-income Americans. In addition to producing housing, the Credit also contributes to the revitalization of distressed low-income communities and creates needed jobs. ABOUT FAMILY SCHOLAR HOUSE Family Scholar House, formerly known as Project Women, is changing lives, families and communities through education. Since incorporating in 1995, the not-for-profit organization has helped hundreds of families in the Louisville and Southern Indiana region by providing housing and educational support. For more information about Family Scholar House please visit www.familyscholarhouse.org or call 502.584.8090.
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