New Markets Tax Credit Program Overview
|
|
- Rosalyn Kelley
- 8 years ago
- Views:
Transcription
1 New Markets Tax Credit Program Overview Presented to May 5, 2014
2 Agenda The TD Community Development Corporation Team New Markets Tax Credit Program New Markets Tax Credit Program & Legislative Update TD Community Development Corporation Program Update 2013 New Markets Tax Credit Projects Structure Options Simple Model and Leveraged Model 2
3 TDCDC Team Lance D. Player Corey T. Buchanan Kevin M. Short Rob Hoak Deployment Director TD Community Development Corporation Compliance Director TD Community Development Corporation President TD Community Development Corporation Regional President - Carolinas TD Bank, NA Rob.hoak@td.com 3
4 TDCDC Team Lance D. Player Deployment Director - As Deployment Director, Mr. Player works with both public and private companies in North Carolina, South Carolina and Florida to finance capital projects using NMTC financing. His primary responsibilities include managing the deployment of NMTC allocation and monitoring the bank s existing NMTC portfolio. Mr. Player has been instrumental in helping the bank develop policies and procedures for its NMTC program, including credit policy and internal processes. Prior to taking his current role in February 2013, Mr. Player was a Commercial Lender with both TD Bank and SunTrust Bank in South Carolina. He currently serves on the NMTC Coalition Investor Advisory Board of Directors which is a national board supporting the NMTC program. Mr. Player received a Bachelor of Arts degree in Finance and Economics from Wofford College. Corey T. Buchanan Compliance Director - Mr. Buchanan is TDCDC s NMTC Compliance Director. In this role he works closely with the President and Deployment Director in all aspects of NMTC compliance and portfolio management. Mr. Buchanan has been working with TDCDC s NMTC program since April 2012 and has played an integral role in establishing polices and procedures for TD Bank. Prior to joining TDCDC / TD Bank, Mr. Buchanan served as the NMTC Program Manager for Greenville New Markets Opportunity (GNMO) and implemented the organizational, deployment and compliance related activities of a round IV $89 million NMTC allocation. Additionally, Mr. Buchanan worked for SunTrust Banks, Inc. from 2001 until joining GNMO in Buchanan serves as the Treasurer on the Christ Church Episcopal Preschool Board of Directors and is an Operating Board Member of Greenville New Markets Opportunity II (a certified CDE). Mr. Buchanan received a Bachelor of Science degree from Clemson University. Kevin M. Short President - Kevin Short is the President of TDCDC and oversees all operations and personnel. Mr. Short coordinates TDCDC s activities with TD Bank and ensures that TDCDC has the resources it needs to effectively manage its activities. Mr. Short is a Senior Vice President and Manager of SC Middle Market banking for TD Bank. During his seven year tenure with TD Bank, Mr. Short has generated over $800 million in corporate loans, and produced in excess of $15 million in fees associated with this book of business. A 31-year veteran of corporate banking, Mr. Short spent 22 years with Wachovia Bank, N.A., in various corporate banking roles, the most recent of which was Regional Corporate Banking Manager in Greenville, South Carolina. Mr. Short received a Bachelor of Science degree from Clemson University. 4
5 New Markets Tax Credit Program 5
6 What are New Markets Tax Credits? Administered by the U.S. Dept of Treasury s Community Development Financial Institutions Fund (CDFI Fund) Enacted December 21, 2000 as part of the Community Renewal Tax Relief Act Encourages Private Capital Investment in Low Income Communities Provides a 39% Federal Tax Credit to Investors (TD Bank) Claimed over 7 year compliance period 5% in years 1 through 3 6% in years 4 through 7 June 10, First Notice of Allocation Availability 6
7 How do they work? Provides a Federal Income Tax Credit for Investors that make Qualified Equity Investments (QEIs) into Community Development Entities (CDEs). Our CDE is TD Community Development Corporation. CDEs in turn use the proceeds of these investments to make Qualified Low-Income Community Investments (QLICIs). QLICIs include, among other things, investments in businesses and real estate projects (QALICBs) in low-income communities. 7
8 What Qualifies an Area? Projects in census tract with an indicator of high distress The most significant indicators are: Poverty > 30% Median incomes < 60% of area median income Unemployment rates > 1.5 times the national average Fourteen additional indicators if the above do not apply 2010 Census determines qualifications 8
9 What Qualifies a Borrower? In accordance with IRS Code Section 45(d)(2), an entity can be termed as a QALICB under the following circumstances: > 50% of its total revenue is from operations occurring in any low-income community A substantial portion of its tangible property is within any low-income community A substantial portion of its employee services are performed in any low-income community 9
10 New Markets Tax Credit Program & Legislative Update 10
11 NMTC Program Update Through the first ten rounds of the NMTC Program, the CDFI Fund has made 749 awards totaling $36.5 billion in tax credit allocation authority. A total of 310 applications were submitted under the 2013/2014 round of the New Markets Tax Credit Program. The applicants requested an aggregate total of $25.8 billion in NMTC allocation authority Awards have been delayed and they are expected to be announced in May/June The Treasury Department will most likely combine the 2013/2014 Awards and authorize $8.5 billion in allocation authority versus the previously announced $3.5 billion. The industry expects to see the CDFI Fund lower the average annual award for each CDE and increase the number of successful applicants. As a result, most NMTC deals going forward will have multiple CDEs who are contributing a smaller percentage of their allocation. 11
12 NMTC Legislative Update The Ash Center at Harvard University named the New Markets Tax Credit Program as one of the Top 25 Innovations in Government. Senators Rockefeller (D-W.Va.) and Roy Blunt (R-Mo.) introduced legislation to provide a permanent extension of the NMTC Program called, The New Markets Tax Credit Act of On January 28, 2014, Rep. Richard Neal (D-MA) introduced HR 3939, the Invest in United States Act of The bill includes a permanent extension of the NMTC program. Discretionary spending in the Federal budget is trending downward. Since 2010, discretionary spending has been cut by more than $175 billion. All tax credit programs are under review. Congressman Dave Camp is leading Tax Reform talks in Washington. The House Ways and Means Committee will work with the Senate Finance Committee to finalize a framework for comprehensive tax reform. Currently, both committees are meeting weekly to discuss the plan. 12
13 TD Community Development Corporation Program Update 13
14 TDCDC NMTC Update TDCDC and its predecessor CFCDC has been a four-time award winner under the NMTC Program totaling $325 million in allocation awards. Since 2007, TD CDC has financed 34 total projects using NMTCs totaling an investment of more than $300 million. In 2013, TD CDC financed 8 projects in South Carolina and Florida. TDCDC deployed $93 million of allocation in 2013 which was the most allocation deployed in the country. TDCDC applied for an additional allocation of $125 million in Sept and we expect announcements in May/June The average award in 2012 was $45 million. 14
15 TDCDC Allocations Year Allocation Amount Deployed Availability 2007 $100,000,000 $100,000,000 $ $100,000,000 $100,000,000 $ $60,000,000 $60,000,000 $ $65,000,000 $55,903,585 $9,096,415 Total $325,000,000 $315,903,585 $9,096,415 * The Bank has five years to deploy an allocation; the balances accumulate 15
16 TDCDC Projects - Jobs Statistics Industry # of Projects Direct Jobs Indirect Jobs Grand Total Jobs Manufacturing 8 1, ,264 Healthcare Non-Profit Colleges/Universities Community Projects ,308 Total 34 3,175 2,336 5,511 * Jobs are calculated based on information reported by the QALICB to TDCDC. * Indirect jobs are construction and/or supplier related. 16
17 2013 New Markets Tax Credit Projects 17
18 2013 TDCDC NMTC Deals $ 22,180,000 Equipment Financing $ 11,000,000 $ 25,200,000 Real Estate / Equip Financing $ 22,180,000 Equipment Financing $ 15,000,000 Real Estate Financing $ 4,000,000 $ 10,000,000 $ 10,000,000 Real Estate Financing $ 3,900,000 Real Estate Financing $ 4,700,000 $ 4,000,000 $ 12,000,000 Real Estate / Equip Financing $ 22,180,000 Equipment Financing $ 4,000,000 18
19 Structure Options Simple Model & Leveraged Model 19
20 New Markets Tax Credit Simple Model Stakeholder Investment Thesis Community Job Creation Tax Base Increase Per Capita Income Increase Community Revitalization Borrower Equity Kicker: $4,563,000 Low Weighted Cost Of Capital Interest Only Loan For 7 Yrs Appraisal Advantage TD Community Develop Corp Full Relationship 4.75% sub-allocation fee on total allocation TD Community Development Corporation TD Bank, N.A. 39% Tax Credit over 7 Years Borrower 20
21 New Markets Tax Credit Leverage Model Stakeholder Investment Thesis Leveraged Lender The loan from Leveraged Lender ( LL ) can be by an affiliate who is using another bank s loan proceeds for the LL. The other bank will need separate collateral from the NMTC collateral. Borrower Equity Kicker: $4,563,000 Low Weighted Cost Of Capital Interest Only Loan For 7 Yrs Appraisal Advantage TD Community Development Corporation TD Community Develop Corp 4.75% sub-allocation fee on total allocation TD Bank, N.A. 39% Tax Credit over 7 Years Borrower 21
22 NMTC Loan Structure Summary The A Note and the B Note are interest only for 7 years In the Simple Model, the bank may require a sinking fund for the A Note. The Borrower s interest rate is typically 50% below market. Funds may be used to finance the acquisition of real estate, all types of capital expenditures (equipment purchases), and property up-fits (soft costs) The Borrower must spend the NMTC proceeds within 12 months of the closing date New equipment or real estate purchased is often used as collateral at an 80% LTV At the end of Year 7, a Cancellation of Debt event occurs IRS codes 61(a)(12), 108, and 1017 may apply Several strategies are available to minimize or avoid the tax liability (consult your CPA) 22
23 TD CDC Team Lance D. Player Vice President & Director of Sales and Marketing TD Community Development Corporation p Corey Buchanan Vice President & Compliance Director TD Community Development Corporation p
NEW MARKETS TAX CREDIT PROGRAM SUMMARY
NEW MARKETS TAX CREDIT PROGRAM SUMMARY Introduction The New Markets Tax Credits (NMTC) program was enacted in December 2000 to facilitate investments that generate employment and other community benefits
More informationNew Markets Tax Credits and the Chicago Development Fund
New Markets Tax Credits and the Chicago Development Fund Lorman Education Services Update on Incentives for Real Estate Development August 30, 2007 Tony Q. Smith, AICP S. B. Friedman & Company Discussion
More informationNew Markets Tax Credits for Developers Presented by Tim Favaro, Esq. and Steven Weiss, Esq. Cannon Heyman & Weiss, LLP
New Markets Tax Credits for Developers Presented by Tim Favaro, Esq. and Steven Weiss, Esq. Cannon Heyman & Weiss, LLP I. Background a. Codified in Section 45D of the Internal Revenue Code, the New Markets
More informationCommunity Reinvestment Fund, USA
Community Reinvestment Fund, USA Presented by: Claudette Konola, Director, Manager Partner Services Community Reinvestment Fund, USA Using New Markets Tax Credits Introductions A national non-profit financial
More informationThe New Markets Tax Credit Program
Investing in Distressed Communities The New Markets Tax Credit Program A CohnReznick White Paper JANUARY 2010 Investing in Distressed Communities The New Markets Tax Credit Program by Gary Perlow, CPA,
More informationWhat is a Community Development Entity?
Overview What are New Markets Tax Credits? > First federal tax credit program to stimulate commercial investment in low-income communities > The program is administered by the US Treasury Department through
More informationNew Markets Tax Credit: An Introduction
Donald J. Marples Section Research Manager December 20, 2012 CRS Report for Congress Prepared for Members and Committees of Congress Congressional Research Service 7-5700 www.crs.gov RL34402 Summary The
More informationIntroduction to the New Markets Tax Credit Program
COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND Introduction to the New Markets Tax Credit Program The CDFI Fund is an equal opportunity provider. PREPARED ON July 31, 2014 Presentation Roadmap Overview
More informationCommunity Investments Vol 15, Issue 2 Making the New Markets Tax Credit Count
Community Investments Vol 15, Issue 2 Making the New Markets Tax Credit Count Author(s): Robert Rapoza, President, Rapoza Associates August 2003 The New Markets Tax Credit (NMTC) program was enacted in
More informationGAO NEW MARKETS TAX CREDIT. The Credit Helps Fund a Variety of Projects in Low-Income Communities, but Could Be Simplified
GAO United States Government Accountability Office Report to Congressional Committees January 2010 NEW MARKETS TAX CREDIT The Credit Helps Fund a Variety of Projects in Low-Income Communities, but Could
More informationNEW MARKETS TAX CREDIT PROGRAM: Subsidized Rate Model. 2008 National Interagency Community Reinvestment Conference April 2008
NEW MARKETS TAX CREDIT PROGRAM: Subsidized Rate Model 2008 National Interagency Community Reinvestment Conference April 2008 JPMorgan Chase and the NMTC Program JPMorgan Chase is an active leader in the
More informationNMTC CENSUS DATA TRANSITION FAQS
NMTC CENSUS DATA TRANSITION FAQS 1. What does the census data transition mean for the New Markets Tax Credit (NMTC) Program?... 2 2. How will I be able to use the 2006-2010 ACS Low-Income Community data
More informationBMLPA INNOVATIVE BUSINESS AND DEVELOPMENT FINANCING
INNOVATIVE BUSINESS AND DEVELOPMENT FINANCING STATE AND FEDERAL NEW MARKETS TAX CREDITS Introduction Important Highlights Economic Boost to Qualified Projects of more than twenty percent (20%) of Project
More informationCommunity Development Financial Institutions Fund. New Markets Tax Credit CDE Certification Glossary of Terms
Community Development Financial Institutions Fund New Markets Tax Credit CDE Certification Glossary of Terms GLOSSARY OF TERMS Affiliate Allocation Agreement Applicant CDE Authorized Representative CDE
More informationNew Markets Tax Credits 101 Affordable Housing Finance Workshop February 14, 2013
Affordable Housing Finance Workshop February 14, 2013 Al Shehadi Director, Originations Enterprise Community Investment, Inc. ashehadi@enterprisecommunity.com Enterprise Community Investment, Inc. National
More informationNew Markets Tax Credit
New Markets Tax Credit Compliance and Monitoring Frequently Asked Questions September 2011 TABLE OF CONTENTS This document adds, revises and updates select questions from the May 2009 edition of the New
More informationCommunity Development Financial Institutions (CDFI) Fund
Community Development Financial Institutions (CDFI) Fund Leveraging Federal Resources for Community Development: Greg Bischak, CDFI Fund, 2010 National Interagency Community Reinvestment Conference, New
More informationNew Markets Tax Credits. A tool to finance renewable energy projects in Indian Country
New Markets Tax Credits A tool to finance renewable energy projects in Indian Country New Markets Tax Credits New Markets Tax Credits can be used to finance a wide range of community economic development
More informationCommunity Investments Vol 15, Issue 2 The Story of Phoenix's NMTC Allocation
Community Investments Vol 15, Issue 2 The Story of Phoenix's NMTC Allocation Author(s): Roberto Franco, Vice President, Phoenix Community Development and Investment Corporation August 2003 Phoenix is honored
More informationDallas Development Fund/New Markets Tax Credit Program Update
Dallas Development Fund/New Markets Tax Credit Program Update September 21, 2015 Economic Development Committee Office of Economic Development dallas-ecodev.org Briefing Purpose Summarize key elements
More informationUSDA Guarantee + NMTC Equity = Facility Financing for a Start Up Charter School
USDA Guarantee + NMTC Equity = Facility Financing for a Start Up Charter School Berkshire Arts & Technology Public Charter School Adams, MA The BArT Charter School opened its doors in the fall of 2004
More informationLISC s New Markets Tax Credit Program (Frequently Asked Questions)
LISC s New Markets Tax Credit Program (Frequently Asked Questions) General Questions about the New Markets Tax Credit Program What Are New Markets Tax Credits (NMTCs)? What Is A Qualified Active Low-Income
More informationCommunity Development Financial Institutions (CDFIs) Participation in the New Markets Tax Credit (NMTC) Program.
Community Development Financial Institutions (s) Participation in the New Markets Tax Credit (NMTC) Program. A Coalition Analysis of the First Three Rounds of New Markets Tax Credit Allocations June 2005
More informationNovogradac Report on Tax Credits Summary: June 29, 2010
Michael J. Novogradac, CPA, shares and update on tax extenders legislation, reviews the NMTC Coalition s Progress Report 2010, announces new guidance for the Section 1603 renewable energy tax credit cash
More informationInsights. Community Developments. New Markets Tax Credits: Unlocking Investment Potential. February 2007. Abstract:
Comptroller of the Currency Administrator of National Banks US Department of the Treasury Community Developments February 2007 Community Affairs Department New Markets Tax Credits: Unlocking Investment
More informationTax Credit Financing Tools for Real Estate Development and Redevelopment
Tax Credit Financing Tools for Real Estate Development and Redevelopment Alexander J. Szilvas and Nathan F. Ware February 24, 2015 Speaker Biographies Alexander J. Szilvas Alex has practiced law at Baker
More informationMHIC New Market Tax Credits Audit & Tax Preparation Workshop
1 MHIC New Market Tax Credits Audit & Tax Preparation Workshop Accounting Tax Business Advisors Scott Backman Deputy Director Asset Management Jeffrey D. Wadovick, CPA, MST Partner Michael Olson Senior
More informationFederal Register / Vol. 80, No. 205 / Friday, October 23, 2015 / Notices
64495 accordance with General Record Schedule 9, Item 7. Source documents provided to DOT by its Federal agencies customers are considered temporary records and are destroyed not more than 120 after of
More informationNew Market Tax Credits
New Market Tax Credits Sample NMTC Financing Structures Unleveraged Direct funding to CDE from the NMTC investor CDE in turn provides financing (debt and/or equity) to QALICB Advantages: simpler and may
More informationNH&RA Summer Institute and NMTC Symposium
NH&RA Summer Institute and NMTC Symposium The NMTC Exit Miriam Vock Sheehan: Nolan Sheehan Patten LLP Moderator Mark Einstein: Reznick Group Stephanie Barrett: Bank of America David Trevisani: National
More informationStep 6: Program Compliance
The NMTC Roadmap Step 6: Program Compliance A CohnReznick White Paper FEBRUARY 2013 The NMTC Roadmap Step 6: Program Compliance The Elements of Compliance The New Market Tax Credit (NMTC) Allocation Application
More informationUSDA & NMTCs: An Uneasy Alliance. Nicolo Pinoli. John Berdes. Jordan Monsour. Novogradac & Company LLP. Craft3. Butler Snow
USDA & NMTCs: An Uneasy Alliance Nicolo Pinoli Novogradac & Company LLP John Berdes Craft3 Jordan Monsour Butler Snow Business & Industry Guaranteed Loan Program Biorefinery Assistance Program USDA RD
More informationLISC Small Business Loan Fund
LISC Small Business Loan Fund P R E S E N T E D BY: K EN ROSENTHAL CDC S M A L L B U S I N E S S F I NA N C E Kevin Boes LISC N e w M a r ke t s S u p p o r t C o m p a ny LISC Small Business Loan Fund
More informationNEW MEXICO FINANCE AUTHORITY NEW MARKETS TAX CREDIT PROGRAM LENDING AND CREDIT POLICIES
NEW MEXICO FINANCE AUTHORITY NEW MARKETS TAX CREDIT PROGRAM LENDING AND CREDIT POLICIES A. PURPOSE The New Mexico Finance Authority ( NMFA ) is granted broad authority to finance projects that stimulate
More informationFinancing Resources for Community Health Centers February 12, 2014
Financing Resources for Community Health Centers February 12, 2014 Presented by Emily Chen, Director, Health Center Lending & Healthy Futures Fund Victor Abla, Director, Lending, Detroit LISC Robert Poznanski,
More informationFinancing for Businesses
Financing for Businesses The following overview of financing programs is for reference purposes only and is not presented as all inclusive. Obtain complete program guidelines from the respective program
More informationAudit Report. Office of Inspector General. Department of the Treasury. November 15, 2006
Audit Report OIG-07-011 Audit of the Community Development Financial Institutions Fund's Fiscal Years 2006 and 2005 Financial Statements November 15, 2006 Office of Inspector General Department of the
More informationLending is a tricky business. It s a delicate balance between helping someone and pushing them off the
Lending is a tricky business It s a delicate balance between helping someone and pushing them off the cliff Virginia Community Capital and the June 18, 2008 2 Lending is a dangerous business. Even though
More informationInsights. Community Developments. New Markets Tax Credits: Unlocking Investment Potential. Abstract. I. What Is the New Markets Tax Credit Program?
Office of the Comptroller of the Currency Washington, DC 20219 JUNE 2013 Community Developments Community Affairs Department Insights New Markets Tax Credits: Unlocking Investment Potential Abstract This
More informationSBA 504 Debenture Program Long-term financing for fixed asset acquisitions and expansions
SBA 504 Debenture Program Long-term financing for fixed asset acquisitions and expansions Economic Development Objectives of SBA 504 Economic Development Objectives maximum 504 Loan Job Factor Job Creation/Job
More informationNeighborhood Lending Partners, Inc. Florida Minority Affordable Housing Development Fund Presentation Florida Housing Coalition September 9, 2014
Neighborhood Lending Partners, Inc. Florida Minority Affordable Housing Development Fund Presentation Florida Housing Coalition September 9, 2014 Overview Neighborhood Lending Partners Certified as a CDFI-providing
More informationMaking QLICIs under $5 Million work LISC small business loan fund. January 2012
Making QLICIs under $5 Million work LISC small business loan fund January 2012 LISC/Morgan Stanley Small Business Loan Fund The goal of the fund is to provide low-cost, long-term financing to small businesses
More informationNew. Markets. Tax. Credit. Program COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND U.S. DEPARTMENT OF THE TREASURY FORM CDFI-0019
New Markets Tax Credit Program C O M M U N I T Y D E V E L O P M E N T E N T I T Y CERTIFICATION APPLICATION OMB APPROVAL NO. 1559-0014 REV. MAY 2003 COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND ENTERPRISE
More informationIRS. New Markets Tax Credit. Internal Revenue Service. Department of the Treasury. Internal Revenue Service. LMSB-04-0510-016 (May 2010)
Internal Revenue Service New Markets Tax Credit Under no circumstances should the contents of this guide be used or cited as authority for setting or sustaining a technical position. IRS Department of
More informationWorking Paper. Addressing the Prevalence of Real Estate Investments in the New Markets Tax Credit Program FEDERAL RESERVE BANK OF SAN FRANCISCO
2008-04 Community Development INVESTMENT CENTER Working Paper FEDERAL RESERVE BANK OF SAN FRANCISCO Addressing the Prevalence of Real Estate Investments in the New Markets Tax Credit Program A Study Conducted
More informationBUILDING COMMUNITIES. Knowledge. Service. Experience. Unparalleled Leadership in the Complex and Multifaceted World of New Markets Tax Credits
BUILDING COMMUNITIES Knowledge. Service. Experience. Unparalleled Leadership in the Complex and Multifaceted World of New Markets Tax Credits About the Firm Novogradac & Company LLP has advised its clients
More informationHighlights of Allocation Round
Highlights of Allocation Round 14 2011 New Markets Tax Credit Program Allocation: Ninth Round Highlights On February 23, 2012, the Community Development Financial Institutions Fund (CDFI Fund) announced
More informationHow to Become a Successful NCC Manager, Solve Loan Problems
Manager, Loan Closing and Asset Management San Francisco, California (Full-time position) December 2014 The Northern California Community Loan Fund (NCCLF) was founded in 1987 to create a socially responsible
More informationTAX CREDIT ADVISORY SERVICES
TAX CREDIT ADVISORY SERVICES In-depth experience. Forward thinking solutions. With one of the largest tax credit practices in the country, CohnReznick can help you take advantage of the many federal and
More informationHow To Help Small Businesses In North Carolina
STATE SUPPORT FOR SMALL BUSINESS LENDING: A Roadmap for North Carolina October 2014 Introduction Small businesses are the economic engines of our state and local communities. In North Carolina, businesses
More informationNMTC SERVICES. Knowledge Experience Service
NMTC SERVICES An established leader in the new markets tax credit industry with expert technical knowledge of key transaction structuring, accounting and compliance issues. Knowledge Experience Service
More informationThe FFCFC 504 Loan Program: A Unique Alternative for Small Business Fixed Asset Financing
Commercial Lenders The FFCFC 504 Loan Program: A Unique Alternative for Small Business Fixed Asset Financing The FFCFC 504 Loan Program is designed to help small business owners expand through the purchase
More informationFlorida Community Loan Fund, Inc. Defining the Future of CDFI Capital and Capacity in the Southeast July 19, 2012
Florida Community Loan Fund, Inc. Defining the Future of CDFI Capital and Capacity in the Southeast July 19, 2012 NMTC Projects 8 projects received $71 million in FCLF funding ASPIRA North Charter School
More informationEVALUATION OF BANK/CDFI PARTNERSHIP OPPORTUNITIES
IV. EVALUATION OF BANK/CDFI PARTNERSHIP OPPORTUNITIES Banks should carefully review prospective relationships with CDFIs. In particular, they should evaluate the CDFI s service area relative to the bank
More informationRecently Expired Community Assistance- Related Tax Provisions ( Tax Extenders ): In Brief
- Related Tax Provisions ( Tax Extenders ): In Brief Sean Lowry Analyst in Public Finance August 24, 2015 Congressional Research Service 7-5700 www.crs.gov R43541 Contents Introduction... 1 New Markets
More informationGrowFL and SunTrust Bank Present: How To Utilize The SBA Loan Programs To Improve Cash Flow And Grow Your Business
GrowFL and SunTrust Bank Present: How To Utilize The SBA Loan Programs To Improve Cash Flow And Grow Your Business GrowFL Webinar Series Date: March 5, 2012 Presented by: Hetal Engineer, SunTrust VP hetal.engineer@suntrust.com
More informationSBA 504 Loan Program. Jobs, Communities
SBA 504 Loan Program Growing Small Businesses, Jobs, Communities What is 504? Economic Development Financing Tool Financesfixed assets for healthy, expanding businesses Low down payment to preserve cash
More informationThe New Markets Tax Credit. Progress Report 2013
The New Markets Tax Credit Progress Report 2013 A Report by the New Markets Tax Credit Coalition June 2013 New Markets Tax Credit Coalition 1331 G Street, NW, 10th Floor Washington, DC 20005 (202) 393-5225
More informationTMF: The Proven Model for Texas Business and Community
TMF: The Proven Model for Texas Business and Community Development Business loans for growth-oriented businesses with needs that may qualify for only partial financing through traditional lending institutions.
More informationPrincipal Investing - The Inner Workings of a Private Equity Firm
Principal Investing - The Inner Workings of a Private Equity Firm 2 Wachovia Capital Partners Agenda Introduction to the Speaker An Overview of Wachovia and its Principal Investing Unit Investing Capital
More informationNMFA and Leveraging of Federal Funds
NMFA and Leveraging of Federal Funds PRESENTATION TO THE NEW MEXICO FINANCE AUTHORITY LEGISLATIVE OVERSIGHT COMMITTEE MARQUITA D. RUSSEL, CHIEF OF PROGRAMS August 13, 2015 Opportunities for Leverage of
More informationPre-Conference Workshop Historic Tax Credits 101: The Basics
Pre-Conference Workshop Historic Tax Credits 101: The Basics Moderator Thomas Boccia Novogradac & Company LLP Panelists Christina Apostolidis Novogradac & Company LLP Frank Buss Novogradac & Company LLP
More informationSeptember 6, 2011. CC:PA:LPD:PR (REG-114206-11) Room 5205 Internal Revenue Service PO Box 7604 Ben Franklin Station Washington, DC 20044
Community Development Venture Capital Alliance CC:PA:LPD:PR () Room 5205 Internal Revenue Service PO Box 7604 Ben Franklin Station Washington, DC 20044 To Whom It May Concern: September 6, 2011 The Community
More informationNew Markets Tax Credit PROGRESSREPORT. An annual report by the New Markets Tax Credit Coalition FEATURING: A Special Report on Rural Investments
New Markets Tax Credit PROGRESSREPORT 2014 An annual report by the New Markets Tax Credit Coalition FEATURING: A Special Report on Rural Investments 1331 G Street, NW, 10th Floor Washington, DC 20005 (202)
More informationFinancing for Biogas Projects. Biogas Financing: Options, Steps, Steps, and and Resources Resources for Biogas for Biogas Project Development
Financing for Biogas Projects Biogas Financing: Options, Steps, Steps, and and Resources Resources for Biogas for Biogas Project Development Project Development September 14, September 2011 14, 2011 Hurdles
More informationCOMMUNITY DEVELOPMENT LOAN FUNDS New development finance model that has tapped capital from "social investors" to raise funds for community
COMMUNITY DEVELOPMENT LOAN FUNDS New development finance model that has tapped capital from "social investors" to raise funds for community development lending. Several hundred exist nationally; about
More informationMISSION DRIVEN FINANCING OPTIONS
MISSION DRIVEN FINANCING OPTIONS WHO IS HAWAII COMMUNITY REINVESTMENT CORPORATION Hawaii Community Reinvestment Corporation (HCRC) is a community based non profit 501(c)3 organization founded in July 1990.
More informationAdministration Announces New Small Business Commercial Real Estate and Working Capital Programs
Fact Sheet Administration Announces New Small Business Commercial Real Estate and Working Capital Programs President Obama announced today two new small business lending initiatives to help increase access
More informationA Guide to Federal Tax Incentives for Brownfields Redevelopment
A Guide to Federal Tax Incentives for Brownfields Redevelopment 2011 Edition ii Brownfields Federal Programs Guide Table of Contents Introduction..................................................................................................1
More informationThe New Markets Tax Credit. Progress Report 2012
The New Markets Tax Credit Progress Report 2012 A Report by the New Markets Tax Credit Coalition June 2012 New Markets Tax Credit Coalition 1331 G Street, NW, 10th Floor Washington, DC 20005 (202) 393-5225
More informationHow To Understand The Economic Benefits Of Tax Credits And Incentives
Incentives Plenary Session 2013 SEDC Annual Conference August 06, 2013 Samuel V.K. Lee Principal svklee@euclidean5.com 312.841.1474 Trend in Tax Credits & Incentives, from a consultant s viewpoint Loca%on
More informationThank you, Saurabh, for that very kind introduction. I m delighted to be back in
Remarks by John G. Walsh Chief of Staff and Public Affairs Office of the Comptroller of the Currency Before the National Community Investment Fund s Annual Development Banking Conference Chicago, Illinois
More informationThis is the second of two articles addressing issues
November 2009, Volume VIII, Issue XI Published By Novogradac & Company LLP Tax Issues With an Insolvent or Bankruptcy QALCIB By Thomas Stephens, Sonnenschein Nath & Rosenthal LLP This is the second of
More informationTalking Points: Leasehold Depreciation
Talking Points: Leasehold Depreciation Current Law: Beginning January 1, 2015, tenant improvements must be depreciated on a 39-year depreciation schedule. BOMA Position: Depreciating leasehold improvements
More informationCenter for Gifted Education Focusing on the Future 2015 CAREERS IN FINANCE
Center for Gifted Education Focusing on the Future 2015 CAREERS IN FINANCE What is Finance? The science that describes the management, creation and study of money, banking, credit, investments, assets
More informationUSDA Business & Industry (B&I) Guaranteed Loan Program
USDA Business & Industry (B&I) Guaranteed Loan Program B&I Program To Create And Maintain Employment And Improve Economic And Environmental Climate In Rural Communities Administered By The Rural Business
More informationCommunity Development Financial Institutions Fund 2008 NMTC Program Recovery Act Awards
THE DEPARTMENT OF THE TREASURY 1789 Community Development Financial Institutions Fund 2008 NMTC Program Recovery Act Awards TABLE OF CONTENTS List of Allocations 5 Overview of Allocations 11 States Served
More informationNATIONAL COMMUNITY INVESTMENT FUND AND AFFILIATE YEARS ENDED DECEMBER 31, 2013 AND 2012
NATIONAL COMMUNITY INVESTMENT FUND YEARS ENDED DECEMBER 31, 2013 AND 2012 YEARS ENDED DECEMBER 31, 2013 AND 2012 CONTENTS Page Independent auditor s report 1-2 Consolidated financial statements: Statement
More informationSummary: February 16, 2016
In this week s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, begins with the general news section, where he provides a detailed description of the president s proposed budget for fiscal year
More informationAn Introduction to the Community Reinvestment Act. John Meeks Atlanta Region FDIC Community Affairs
An Introduction to the Community Reinvestment Act John Meeks Atlanta Region FDIC Community Affairs What is the CRA? CRA stands for: The Community Reinvestment Act of 1977 revised in 1989, 1995, and 2005.
More informationFlorida Community Loan Fund, Inc. Resources for Non-Profits
Florida Community Loan Fund, Inc. Resources for Non-Profits September 11, 2012 3:45pm About FCLF FCLF is a statewide federally certified Community Development Financial Institution (CDFI). Founded in 1994
More informationLow Income Housing Tax Credit Program
Low Income Housing Tax Credit Program By Ed Gramlich, Director of Regulatory Affairs, National Low Income Housing Coalition Administering Agency: Internal Revenue Service (IRS) of the Department of the
More informationNew Markets Tax Credits and EB-5: Combining Two Programs for One Goal
New Markets Tax Credits and EB-5: Combining Two Programs for One Goal Justin G. Persaud I. Introduction... 249 II. NMTC Background and Regulatory Structure... 251 A. Basic NMTC Transaction...252 B. Low-Income
More informationTHE IRS VIEW OF JOINT VENTURES INVOLVING TAX- EXEMPTS IN TODAY S CLIMATE
THE IRS VIEW OF JOINT VENTURES INVOLVING TAX- EXEMPTS IN TODAY S CLIMATE MICHAEL I. SANDERS As the U.S. and global economies continue to recover slowly from the Great Recession, charities are receiving
More informationFUNDING OPPORTUNITY TITLE: Notice of Guarantee Availability (NOGA) inviting
This document is scheduled to be published in the Federal Register on 01/07/2016 and available online at http://federalregister.gov/a/2016-00047, and on FDsys.gov BILLING CODE: 4810-70-P DEPARTMENT OF
More information99TH GENERAL ASSEMBLY State of Illinois 2015 and 2016 SB0708
*LRB00MGMb* TH GENERAL ASSEMBLY State of Illinois 0 and 0 SB00 Introduced //0, by Sen. Dan Kotowski SYNOPSIS AS New Act 0 ILCS 0/. new INTRODUCED: Creates the Microloan Program Act. Provides that the Director
More informationNEW MARKETS TAX CREDIT Progress Report
THE NEW MARKETS TAX CREDIT Progress Report 2015 A Report by the New Markets Tax Credit Coalition June 2015 New Markets Tax Credit Coalition 1331 G Street, NW, 10th Floor Washington, DC 20005 (202) 204-4500
More informationNonprofit Finance Fund. Accessing and Managing Credit Webinar. Presented by. Stephanie DeVane Associate Director, Financial Services
Nonprofit Finance Fund Accessing and Managing Credit Webinar Presented by Stephanie DeVane Associate Director, Financial Services Jessica LaBarbera Associate Director, Northeast Region Released the week
More informationResponses to Online Questions from the Web and Telephone Seminar
Small Business Administration (SBA) Lending Programs and the American Recovery and Reinvestment Act of 2009 A Web and Telephone Seminar (Hosted by the Office of the Comptroller of the Currency (OCC)) September
More informationMortgage Credit Certificate Program Presented By:
Mortgage Credit Certificate Program Presented By: Partners in Building Your Dream Define Affordable Housing Overview What is Mortgage Credit Certificate Enabling Legislation How The MCC Program Works Who
More informationHow To Help A Small Business Fund Fund
LISC Small Business Lending Update PRESENTED BY: Kevin Boes New Markets Support Company Kelsey Hamory New Markets Support Company Small Business Lending Products LISC/NMSC have developed a toolkit of products
More informationPostsecondary Student Financial Aid Facts
The Role of Financial Aid Administrators Financial aid administrators are dedicated to opening the doors of opportunity by making college possible. Student financial assistance for postsecondary education
More informationWe agree with the guidance given on the definition of a regional area.12(h)7.
May 17, 2013 OCC: Docket ID OCC-2013-0003 Federal Reserve: Docket No. OP-1456 FDIC: Attention Comments on CRA Interagency Q&A To Whom It May Concern: Reinvestment Partners (formerly the Community Reinvestment
More informationFinancing Downtown Businesses
Financing Downtown Businesses Presented by: David Kircher 1 Wisconsin Business Development Finance Corporation Certified Development Company Authorized to work with SBA 504 Program Fixed Asset Financing
More informationTMF: The Proven Model for Texas Business and Community Development. Celebrating 10 years: TMF Statewide Impact
TMF: The Proven Model for Texas Business and Community Development Business loans for growth-oriented businesses with needs that may qualify for only partial financing through traditional lending institutions.
More informationAPPENDIX 6: FUNDING SOURCES MATRIX
APPENDIX 6: ING S MATRIX NAME FEDERAL S Assisted Living Conversion Program (ALCP) Community Development Block Grant (CDBG) Energy Efficiency and Conservation Block Grants (EECBG) Green Retrofit Program
More informationLoan Modifications, Short Sales, and Foreclosures
Sponsored by Loan Modifications, Short Sales, and Foreclosures I can t make my house payments. What do you think I should do? How the Financial Advisor can counsel clients in an informed and strategic
More informationEVALUATING COMMUNITY AND ECONOMIC DEVELOPMENT PROGRAMS
EVALUATING COMMUNITY AND ECONOMIC DEVELOPMENT PROGRAMS A LITERATURE REVIEW TO INFORM EVALUATION OF THE NEW MARKETS TAX CREDIT PROGRAM Martin D. Abravanel Nancy M. Pindus Brett Theodos Prepared for U.S.
More informationSummary of the Housing and Economic Recovery Act of 2008
Summary of the Housing and Economic Recovery Act of 2008 On July 30, President Bush signed major housing legislation, HR 3221, the Housing and Economic Recovery Act of 2008. The bill restructures regulation
More informationNlXONPEABODYaP. Suite 900 401 9th Street, N.W. Washington, D.C. 20004-2128 (202) 585-8000 Fax: (202)585-8080
NlXONPEABODYaP A T T O R N E Y S AT LAW Suite 900 401 9th Street, N.W. Washington, D.C. 20004-2128 (202) 585-8000 Fax: (202)585-8080 THE LOW-INCOME HOUSING TAX CREDIT PROGRAM By: Richard S. Goldstein,
More information