A grand opening for a Low Income Housing Tax Credit (LIHTC) project or a New Markets Tax Credit (NMTC) project is what we all work toward, whether you are a consultant, tribal housing authority staff member, accountant, official with a federal or state agency, or another person involved in the project.
Seeing the smiling faces of the people who will benefit from the new homes or businesses makes all of the paperwork, legal negotiations and hard work well worth it. It’s the goal we all work toward.
However, the actual planning process for a grand opening can be a daunting task.
The Affordable Housing Tax Credit Coalition (AHTCC), along with Meridian Investments, has put together a thorough step-by-step guide to planning a grand opening. It is available at no charge here.
It gives tips on organizing committees, soliciting sponsors and getting the word out through advertising and public relations efforts. It also gives sample timelines, press release examples and references for more information and tips on key people to invite.
With the ongoing threat of tax reform and the importance of keeping both the LIHTC and NMTC programs funded by the federal government, grand opening planners should also be sure to invite local, state and federal politicians, in addition to tribal representatives, so that they too can see the positive results. (Travois team members are always thrilled to be invited to grand openings, so please also keep us in mind!)
I encourage anyone involved in planning a grand opening for a tax credit project to check out the guide. Good luck and be sure to take lots of photos of those smiling faces!
If you have photos to share from past grand openings, please send them to info@travois.com.