17
Feb
Tags: City of San Jose's Environmental Innovation Center, New Markets Tax Credits, Novogradac Journal of Tax Credits, Silicon Valley
Posted in NDC News, New Markets Tax Credits | No Comments »
Rendering by Group 4 Architecture
The City of San Jose’s Environmental Innovation Center, the cities first NMTC Project is featured in this month’s edition of Novogradac Journal of Tax Credits.
By Jennifer Dockery, Assignment Editor,
Novogradac & Company LLP
“Late last year, the city of San Jose, Calif. completed its first new markets tax credit (NMTC) transaction. As befits the largest city in Silicon Valley, the project, known as the San Jose Environmental Innovation Center (EIC), will house emerging technology startups and recycling centers. EIC is part of the city’s Green Vision, a 15-year plan for economic growth and environmental sustainability, and will provide jobs and resources to San Jose and other Santa Clara County communities.”
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17
Feb
Tags: Bijou Square, Bridgeport CT, Historic Tax Credit, NDC's Grow America Fund, New Markets Tax Credits, Philip Kuchma, Two Boots Pizzeria, Vaudeville Theatre House
Posted in NDC News, New Markets Tax Credits, Small Business Lending | No Comments »
NDC is proud to highlight the achievements of Philip Kuchma and his work in Bridgeport, CT. Kuchma is leading a revitalization effort that is transforming a key area of downtown. Included in this effort is Bijou Square, a project financed with NDC’s New Markets Allocation, Historic Tax Credits and a GAF Small Business loan to Two Boots Pizzeria. The project involved the renovation of eight buildings on Fairfield Avenue, including a former Vaudeville Theatre House. The theatre reopened last summer and added an 84-unit apartment complex, parking lot, offices, restaurants and a gourmet cheese shop that relocated from Westport. See articles in the Los Angeles Times and Hartford Courant to learn more.
8
Feb
Tags: City of Stamford, NDC's HEDC New Markets Inc., Stamford Innovstion Center
Posted in NDC News, New Markets Tax Credits | No Comments »
Stamford Innovation Center at Old Town Hall celebrates project completion with an opening ceremony. The NMTC deal closed in 2008, the NMTC capital was used to make historic rehabilitations to the building. Congratulations to the City of Stamford and Stamford Innovation Center.
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1
Feb
Tags: Burl Oaks Townhomes, LIHTC, NDC's Corporate Equity Fund, Podawiltz Group
Posted in Affordable Housing, NDC News, Uncategorized | No Comments »
NDC is proud to announce the closing of CEF’s Burl Oaks Townhomes. This project will include the construction of 5 buildings, totaling 38 townhomes in Sartell, MN. The large units at Burl Oaks will provide affordable housing to families in the area, the project will also set aside four units for homeless tenants. A special thanks to the closing team and our General Partner for this deal, Podawiltz Group.
24
Jan
Tags: Anacortes Washington, Island Hospital, Kitsap County Consolidated Housing Authority, Kitsap County NMTC Facilitators, Lydig Construction, Medical Arts Pavilion, Taylor Gregory Broadway, Washington Federal Bank
Posted in Community Matters, NDC News, New Markets Tax Credits, Uncategorized | No Comments »
© 2012 Doug Scott / dougscott.com
Island Hospital in Anacortes, Washington is celebrating its new Medical Arts Pavilion with an open house and ribbon cutting ceremony that is open to the public. The event starts with a ribbon-cutting at 5:15 p.m. with doors opening 5:30 p.m.
The new 2-story, 26,000 square foot Medical Arts Pavilion, designed by Architects Taylor Gregory Broadway and built by Lydig Construction, will house hospital services on the east campus close to the Emergency Room with enclosed access to the hospital. The Medical Arts Pavilion facility will relocate a number of existing services and will also provide new services not currently available anywhere else in the region. Specific services that will be housed in the new pavilion cover Cancer Care, Physical Therapy & Rehabilitation, Pain Management, and Hyperbaric Wound Care.
The $12.1 million project was financed through New Markets Tax Credit allocations provided by the National Development Council and Kitsap County NMTC Facilitators (an affiliate of Kitsap County Consolidated Housing Authority). Washington Federal Bank provided additional debt financing.
More about Island Hospital
Island Hospital is the primary health care center serving west Skagit County, north Whidbey Island and the San Juan Islands in Washington State. Recognized as one of the most innovative small hospitals in the U.S., it is an integral part health care delivery in this rural county. With 43 private beds and more than 100 physicians, it is the smallest hospital in Washington State to offer Level III Trauma care and an array of services more typically found at an urban medical center, such as: Emergency Services, Cancer Care, Diagnostic Imaging, Inpatient & Outpatient Surgery, Birth and Prenatal Care, Home Health Services, Laboratory, Cardiac Rehabilitation, Pulmonary Rehabilitation and many others.
11
Jan
Tags: Navos Burien, New Markets Tax Credits
Posted in NDC News, New Markets Tax Credits | No Comments »
Navos Burien Campus gets a boost from New Markets Tax Credits
A partially completed mental health campus in Burien received a significant boost last week when it closed on a $23 million financing transaction involving the federal New Markets Tax Credit (NMTC) program. The additional financing , along with pending foundation and individual contributions, will enable Navos, a nonprofit community mental health agency, to complete the build-out of its three-story 45,000 square foot outpatient mental health clinic and construct an adjacent 8,000 square foot Community Activities building for operation of a café, supported employment program and other program services.
The new facilities replace an existing Burien facility that must relocate to due to the third runway project at SeaTac airport. The project is expected to generate 150 FTE construction jobs in the south Puget Sound region as well as retain 175 existing FTE jobs from the relocated operations. Navos expects to expand its capacity to provide critical health and mental health care services by 20% in the new Burien location. Read more…
27
Dec
27
Dec
27
Dec
20
Dec
Tags: Child Life Pediatrics PC, JP Morgan Chase, Nassau County NY, NDC Grow America Fund
Posted in NDC News, Small Business Lending | No Comments »
From left to right: Dudley Benoit, Senior Vice President, Chase; Dr. Robyn Cadet, Child Life Pediatrics; Bob Davenport, President , National Development Council
Chase has awarded a $6 million grant to the National Development Council (NDC) to help make small business loans throughout the New York Tri-State area.
The Manhattan-based nonprofit makes business loans to create jobs and build wealth in underserved communities throughout the country with a special emphasis in New York through its Grow America Fund (GAF).
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press release
media alert
15
Dec
9
Dec
Tags: City of San José, New Markets Tax Credits, San José Environmental Innovation Center (EIC)
Posted in NDC News, New Markets Tax Credits, Public-Private Partnerships, Uncategorized | No Comments »
The City of San José, long a center of technology innovation, is now leading the way with innovative financing by closing an approximately $27 million New Markets Tax Credits financing transaction to complete construction of the new San José Environmental Innovation Center (EIC) – a premier demonstration facility for emerging clean technology companies, a construction materials store, and a household hazardous waste facility. “Closing San José’s very first New Markets Tax Credit transaction exemplifies our City’s commitment to leverage public-private partnerships that help us advance key projects at a time when City resources are scarce,” stated San José’s Mayor Chuck Reed.
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8
Dec
1
Dec
Tags: Deborah Welchel, National Rural Housing Coalition, NDC Corporate Equity Fund
Posted in Affordable Housing, NDC News | No Comments »
Deborah Welchel, CEF acquisitions director, was named to the National Rural Housing Coalition (NRHC) Board of Directors at its November meeting.
Welchel has over fifteen years of public and private sector affordable housing financing experience. She came to know NDC CEF from her participation in NDC training. She received NDC Economic Development Certification in 1997 and NDC Housing Development Certification in 1998. Welchel is based in Austin, Texas.
1
Dec
Tags: John Linner, National Rural Housing Coalition, NDC Corporate Equity Fund
Posted in Affordable Housing, NDC News | No Comments »
NDC Corporate Equity Fund, L.P. (CEF) hosted a reception Tuesday evening (Nov. 29) for the seventy-member board of directors of the National Rural Housing Coalition (NRHC), following their November board meeting. At the event, CEF fund manager John Linner made a presentation highlighting CEF’s rural affordable housing developments.
The NRHC works to focus policy makers on the needs of rural areas by direct advocacy and by coordinating a network of rural housing advocates around the nation.
CEF provides equity capital for the construction and preservation of affordable housing using Federal Low Income Housing Tax Credits (LIHTC), Federal Historic Preservation Tax Credits and Renewable Energy Credits.
20
Nov
4
Nov
3
Nov
Tags: Stephanie Dugan, Training Lifetime Achievement Award
Posted in NDC News, NDC Training | No Comments »
NDC’s Lifetime Achievement Award Recipient, Stephanie Duagn.
Congratulations to Stephanie Dugan on being selected for NDC’s Training Lifetime Achievement Award!
Stephanie Dugan, a field director for the National Development Council since 1996, works with communities primarily in Texas to bring together financing for business expansions and affordable housing projects. She teaches NDC courses in Economic Development Finance, Business Credit Analysis, Problem Solving & Deal Structuring, Home Ownership Finance, Mixed Use Real Estate Finance and Low-Income Housing Tax Credits. She has assisted a number of clients to secure historic rehabilitation tax credits for various projects including a museum, a performing arts center, a movie theater, and a visitors center; and Low Income Housing Tax Credits for affordable housing projects. She draws on experience gained as the Assistant Director of Economic Development for the City of Abilene where she administered a small business finance and incentive program, capitalized at $6 million per year. Prior to leaving the City of Abilene, she served as project manager for the “Windsor Hotel,” $5 million downtown restoration project. She holds of Bachelor of Arts Degree from Texas Tech University in Economics.
3
Nov
Tags: Bud Sweet, Robert Sweet, Trainer of the Year
Posted in NDC News, NDC Training | No Comments »
Trainer of the Year, Bud Sweet.
Congratulations to Bud Sweet on being selected Trainer of the Year!
As a member of NDC’s East Team, Robert Sweet works primarily in the northeastern U.S. providing technical assistance to client communities including operational analyses of proposed client projects to structuring financing packages which include Historic Rehabilitation and New Markets Tax Credits. Bud teaches four courses in NDC’s Economic Development Finance Certification Program: ED101 – Economic Development Finance, ED201 – Business Credit Analysis, ED202 – Real Estate Finance and ED300 – The Art of Deal Structuring. He is also an underwriter for NDC’s SBA 7 (a) loan fund program: NDC Grow America Fund.
Prior to joining NDC in 2007, Bud served as the Deputy Regional Director for the Southern Tier for the New York State Empire State Development Corporation and as well as the Director of Loan Funds for the Broome County, New York Industrial Development Agency. He is a graduate of SUNY-Binghamton.
1
Nov
Posted in Uncategorized | No Comments »
NDC brings its special public-private partnership approach to Los Angeles County with The Gateway at Alhambra, a new state-of-the-art facility for the County’s Economic Development Commission and its Housing Authority. Read more
