IRVINE, Calif., June 27, 2016 (GLOBE NEWSWIRE) -- WNC Founder and Chairman Will Cooper Sr. has been awarded the David Reznick Lifetime Achievement Award by The Affordable Housing Tax Credit Coalition. The award was presented to Cooper Sr. by Senator Mike Crapo (R-IA) and Congressman Xavier Becerra (D-CA) at the 22nd annual Charles L. Edson Tax Credit Excellence Awards.
Held at the U.S. Capitol Visitors Center in Washington D.C., the event honors low-income housing tax credit (LIHTC) developments at the forefront of creating stronger, healthier communities in urban, suburban and rural areas nationwide.
“Will Cooper Sr. is appropriately known as a pioneer of the affordable housing industry, having been at the forefront of the LIHTC program since its creation by Congress in 1986,” said Senator Crapo. “He is a key member of the affordable housing industry who has helped show many how the low-income housing tax credit provides essential capital to underserved communities and provides key financing for small and rural affordable housing developments. Will is a nationally recognized leader and this lifetime achievement celebrates his remarkable career and work.”
The David Reznick Lifetime Achievement Award recognizes Cooper Sr.’s longtime commitment to supporting the work of the affordable housing and community development industry on the federal, state and local levels. He has testified before both the U.S. Senate and House of Representatives and has worked tirelessly for decades to create and preserve affordable homes for low-income families across the country.
“David was a friend of mine, as he was to so many in the affordable housing industry,” said Cooper Sr. “He was also a member of WNC’s Advisory Board and provided us with excellent insight. I’m very thankful to the board of the Tax Credit Coalition for honoring me, and for the incredible work the organization does on Capitol Hill to support the low-income housing tax credit program. And thank you to everyone in our industry who help to make our nation’s housing better and more affordable.”
Cooper Sr. founded WNC, a national investor in real estate and community development initiatives, in 1971 in Irvine, California. Over time, he built the company’s investor base to include Fortune 500 companies, insurance giants, and multinational banks, helping to bring private investment into the affordable housing sector. In 1997 he cofounded the California Housing Consortium to unite the businesses and organizations working to support affordable housing in the state in a nonpartisan advocacy effort, to great success.
David Reznick was co-founder and Chairman of the Board of Reznick Group, P.C. before the firm combined with J.H. Cohn in 2012 to form CohnReznick LLP. The success of CohnReznick is due, in large part, to the formidable presence David established in the affordable housing industry more than 40 years ago. An industry legend and visionary, he was known for his tireless work to create and protect affordable housing.
“Our founder, my father, has dedicated much of his life to ensuring the delivery of quality, safe homes to individuals and families in need throughout the country,” said Will Cooper Jr., president and chief executive officer of WNC. “He has not only helped lead the low-income housing tax credit industry over the past 30 years, but has also played a significant role in ensuring its success.”
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. Please visit www.taxcreditcoalition.org for more information about joining the Affordable Housing Tax Credit Coalition.
The Housing Credit is America’s main tool for creating and preserving affordable housing for hardworking families, veterans, people with special needs, seniors, teachers, nurses, firefighters and police officers, among others. Since its creation in 1986, the Housing Credit has represented the best of public-private partnerships, bringing into communities more than $100 billion in private capital to finance nearly 3 million quality affordable apartments, producing or preserving 90,000 to 95,000 homes and supporting 96,000 jobs each year.
WNC, founded in 1971 and headquartered in Irvine, Calif., is a national investor in real estate and community development initiatives, as well as a leading investor in low-income housing tax credits (LIHTC). WNC has acquired more than $7.6 billion of assets totaling in excess of 1,290 properties in 45 states, Washington D.C., and the U.S. Virgin Islands. Since 2000, WNC has been awarded four New Markets Tax Credit (NMTC) allocations, totaling $178 million, and has facilitated development of 17 low-income community projects. WNC’s investor base exceeds 19,500 institutional and retail clients, including Fortune 500 companies, multinational banks, and insurance companies. Additional information is available at www.wncinc.com.
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Source:WNC & Associates