Archive for the ‘Community Development’ Category

Finance Fund Receives $40 Million in NMTC Funding

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The New Markets Tax Credit (NMTC) program is one of Finance Fund’s strongest resources. Today, we received the long awaited news that the U.S. Department of Treasury awarded us $40 million in NMTC. This is the eighth round of NMTC funding we have received, totaling $240 million since 2004. The NMTC funding fuels our New [...]

President’s FY’14 Budget Would Make NMTC Permanent at $5 billion in Allocation Authority

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WASHINGTON, April 17, 2013 – The New Markets Tax Credit (NMTC) Coalition commends President Obama for his call for a permanent extension of the NMTC.  By permanently extending the NMTC, President Obama would ensure that low income communities continue to receive billions in capital for new community facilities, businesses and revitalization projects while also generating a significant return on investment [...]

CHL Fund Helps Fill the Pending Health Care Facilities Gap

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With the advent of the Affordable Care Act, there will be a significant gap between the number of community-based health care (CHC) facilities projects planned and the projected demand for services in low-income communities. The Affordable Care Act’s goal is to serve 40 million patients – that’s double the number of people CHCs currently serve [...]

Sequester’s Impact Tops Agenda at CDFI Coalition Institute Conference

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Community development leaders from across the nation gathered at the CDFI Coalition Institute Conference in Washington, D.C. to discuss federal policy issues facing CDFIs including the impact of sequestration, the President’s FY 2014 Budget and tax reform under discussion in Congress.

Medina Creative Pet Play Opens Newest Employment Enclave

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There were more than few howls of delight as pets and their favorite people celebrated the opening of Medina Creative Pet Play, Feb. 12, in Medina, Ohio. The full-service doggy daycare and spa is the newest employment enclave developed by Medina Creative Housing for their residents with disabilities.  Finance Fund’s $100,000 economic development grant helped [...]

Finance Fund Invests $20,000 to Market Parsons Avenue Corridor

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A $20,000 pre-development grant from Finance Fund will be used to create marketing materials that reposition Parsons Avenue and attract investment following a generation of decline. A diverse mix of stakeholders is working to revitalize the area on Columbus’ south side into a vibrant residential and commercial corridor. When neighborhood groups, government and nonprofit organizations [...]

Finance Fund Awards $15+MM in NMTC to Ironville to Expand Port

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Finance Fund is pleased to award $12.8 million in federal and $2.56 million in state New Market Tax Credit (NMTC) financing to Ironville to expand operations at the Toledo Port’s Midwest Terminal. PNC New Markets Investment Partners, LLC, the investor, provided an additional $2.5 million federal allocation. The new construction project is located in a [...]

Mark Barbash Named Finance Fund COO

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Change is never easy and organizational change doubly so. It takes a lot of time and thought – some mental “heavy lifting” – to deal with present and future needs. Positive change is about evolutionary growth and making the most of new possibilities as well as altering legacy systems and approaches. At Finance Fund, we’ve [...]

Congress Extends New Markets Tax Credit: $7 Billion Over Two Years

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The tax credit community can breath a sigh of relief and look forward to a better New Year with the news that President Obama signed legislation on a number of tax extender provisions including the New Markets Tax Credit. H.R. 8, the American Taxpayer Relief Act of 2012  extends NMTC for two years, allocating $3.5 [...]

Looking Over the Fiscal Cliff

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As the “fiscal cliff” looms, it’s likely that major cuts in government programs will be part of the plan to reduce the federal budget deficit. As the nation waits to see where the cuts will fall, Finance Fund is actively making the case for reauthorization of the federal New Markets Tax Credit (NMTC) program  alongside [...]


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