BB&T has partnered with West Virginia’s Brownfields Assistance Center (Center) to offer a 1-day training course designed to help WV’s community development practitioners understand and tackle the environmental and economic challenges around brownfields redevelopment. Marlo Scruggs of BB&T, the driving force behind the training, is working with Center staff at both Marshall and West Virginia Universities to offer the class in northern and southern West Virginia later this year. Read more…
28
Jul
28
Jul
The Citi Foundation Brings NDC Training to California
In the classroom at the Citi-sponsored ED201 - Business Credit Analysis course in Glendale, CA.
With generous support from the Citi Foundation, the state of California will be home to over 60 new certified Economic Development Finance Professionals in 2010. Concurrent EDFP Certification Programs are now underway in Los Angeles and San Francisco and will conclude in late 2010. Citi’s investment in California’s economic development practitioners and the communities they serve is already paying off in a new revolving loan fund in Morgan Hill. Established through NDC’s Grow America Fund, the Grow Morgan Hill Fund will support Morgan Hill’s small businesses to the tune of over $2 million. We are pleased to partner with Citi and the Citi Foundation to make this training available in California and to see training attendees already making a difference in the communities where they live and work.
26
Jul
NDC’s Public-Private Partnerships Make Headlines
NDC’s unique model for public-private partnerships has produced high-quality public facilities of all kinds, with special success in the State of Washington. In a recent Seattle Daily Journal of Commerce article, John Finke, NDC senior Field Director and head of NDC’s West Team, talks about how this model has saved millions of dollars for cities and states using this approach to create schools and other public facilities.
20
Jul
NDC Brings Innovative Financing Solution to Cleveland, OH
Through a development assistance partnership with Cuyahoga County, Ohio, the City of Cleveland received NDC’s help in structuring New Markets Tax Credit and HUD Section 108 financing for a critically-needed new police station that will support job creation near the world-renowned Cleveland Clinic. Read The Plain Dealer article at Cleveland.com.
15
Jul
Just What the Doctors Ordered
NDC’s GAF Delivers for Two Physicians with Healthy and Growing Private Practices
Pediatrician Robyn Cadet MD (center) at her new practice, Child Life Pediatrics, PC.
Pediatrician Robyn Cadet, MD and Podiatrist Neal Marks, DPM, with practices located in Nassau County, Long Island, NY and Cleveland, OH, respectively, are miles apart in location and specialty but shared a common need: financing to help them expand their busy medical practices. And with help from NDC’s Grow America Fund (GAF), they are both well on their way to accomplishing just that.
Dr. Marks started his comprehensive foot care practice over 17 years ago on Cleveland’s West Side. His practice expanded to include two additional full-time doctors, two additional full-time and two part-time staff people, and a second location across town- an expansion funded by a GAF loan through the Grow Cuyahoga County Fund. Read more…
15
Jul
Putting It Together: NDC’s Development Assistance
The Rookwood Neighborhood of Gresham, OR is about to get a new building and the local press is buzzing. What’s news? This new building will house eight social service agencies and 47 apartments, 15 for homeless families, bringing together under one roof critically-needed services and facilities for community residents. As a client community, the City of Grehsam received assistance with structuring the financing package which includes a $1.3 million HUD Section 108 loan. Construction begins in late July but local coverage has already begun:
In Rockwood, One Building Will House Eight Social Service Agencies
Steve Beaven, The Oregonian
Published: Friday, July 09, 2010
The grassy, vacant lot along Northeast 181st Avenue in Gresham sits next to a dead-end street and several low-income apartment complexes. The site at one point was farmland, and until a few years ago, traveling carnivals pitched their tents there.
But in the next several weeks, if all goes as planned, the lot will be transformed into a construction site where crews will build a $17 million facility for eight social service providers. By the time it’s finished next summer, the building is expected to be a hub for residents in and around Gresham’s poverty-stricken Rockwood neighborhood. The agencies will provide day care, employment assistance and Head Start classes, among other services. And nearly four dozen low-income apartments will be a part of the complex. Read more…
8
Jul
NDC Goes the Distance
NDC’s Michelle Morlan and Misty Baskett Run in the Rock ‘n Roll Seattle Half Marathon
NDC's Misty Baskett and Michelle Morlan after running the Rock 'n Roll Seattle Half Marathon.
On Saturday, June 26, after weeks of training, $2,000 in fundraising, and 13.1 miles of non-stop running, NDC’s Misty Baskett and Michelle Morlan crossed the finish line of the American Cancer Society’s Rock ‘n Roll Seattle Half Marathon. Part of the DetermiNation Marathon Series, the race represents a significant personal accomplishment for both athletes and lands them among thousands of others who since 1996 have swum, biked, and run to raise money and awareness for the fight against cancer.
Misty was heard post-race saying, “Well, that was easy.” While just the thought of running 13.1 miles makes a lot of us break into a sweat, Misty and Michelle made the commitment and met their goal with aplomb. NDC congratulates both Michelle and Misty on their hard work and perseverance. We are delighted to support their efforts, cheer them on from the sidelines and applaud their accomplishment!
Visit Michelle’s personal fundraising page to learn more about her efforts.
1
Jul
NDC PARTNERS WITH THE CITY OF SEATTLE AND SEATTLE STEAM ON $32 MILLION RENEWABLE ENERGY INVESTMENT
NDC Creates New Markets Tax Credit Package to Convert Steam Boiler to Biomass
SEATTLE, Wash. - NDC today announced the closing of a $32 million New Markets Tax Credit (NMTC) deal that will allow Seattle Steam, a privately-owned district heating utility, to convert its boiler from natural gas to biomass.
Through the NDC’s ties to the federal NMTC initiative, Seattle Steam secured the necessary private investment to move the project forward, enabling the utility to fully fund the waste wood-fired boiler conversion and access additional working capital. Read more…
1
Jul
Morgan Hill, CA + NDC = Small Business Investment
The Morgan Hill, CA Redevelopment Agency (RDA) has joined forces with NDC to bring much-needed credit to Morgan Hill’s small businesses. The RDA kicked off the new partnership with a $500,000 investment to create the Grow Morgan Hill Fund, which will be administered by NDC’s Grow America Fund (GAF). In addition to this program, which is expected to provide over $2 million in credit to Morgan Hill’s small businesses through GAF”s SBA-guaranteed loans, NDC will be providing its signature development assistance services to support the community’s economic development goals.
Read the complete story at the Morgan Hill Times.
25
Jun
NDC’s Public-Private Partnership Project Portfolio
NDC has forged a unique form of public-private partnerships to produce more than $2.0 billion of projects for local governments and non-profit and public institutions. View the highlights of our project portfolio here.
Pacific Place Parking Garage
Seattle, WA
- 1,200-space parking garage
- Anchored a $400 million downtown Seattle development project
- Financing: 501(c)(3) bonds
- Bond issue: $47,000,000
21
Jun
The Grow Tacoma Fund Gets Down to Business
The Grow Tacoma Fund helped Stadium Thriftway finance a building expansion and new machinery and equipment.
The Grow Tacoma Fund, a small business revolving loan fund administered by NDC’s Grow America Fund and seeded with a $2.0 million investment from the City, has to date made 31 loans, financed $13 million in project costs (leveraging the City’s investment six times over) and retained or created 497 jobs.
Stadium Thriftway, the only independent grocery serving downtown Tacoma, accessed Grow Tacoma Fund dollars to finance a building expansion and new machinery and equipment. Stadium Thriftway added 30 new employees to its existing staff of 60 and was able to maintain its niche in Tacoma’s urban core as a purveyor of high quality foods with excellent selection and service, including weekly deliveries to local elderly residents.
14
Jun
National Development Council Marks Groundbreaking of LeMay Car Museum
NDC Leads Effort to Provide New Markets Tax Credits to Turn Museum into a Reality
Tacoma, WA - On June 10, 2010, NDC joined the City of Tacoma, LeMay executives and donors, regional leaders and car enthusiasts from around the nation to mark the official groundbreaking for the Harold E. LeMay Museum. NDC helped the City of Tacoma structure a complex financing package that includes Federally Guaranteed loans and a City property donation of the museum site, located next to the Tacoma Dome on the Thea Foss Waterway. NDC, through its HEDC New Markets, Inc., teamed with USBancorp Community Development Corporation and Consortium America to raise an additional $8.2 million in Federal New Markets Tax Credit equity for the project. The multi-phase development will eventually make the museum one of the most important development projects in Tacoma’s history.
NDC's John Finke, second from left, with the Tacoma City Council at the LeMay Museum groundbreaking on June 10, 2010.
28
May
NDC’s EDFP Certification Program Is Coming to the Twin Cities
NDC’s Economic Development Finance Professional (EDFP) Certification Program is a rigorous and comprehensive training series designed solely for economic development practitioners. Topics include business credit and real estate finance analysis, loan packaging, negotiating, problem solving, deal structuring and more!
Course Schedule
ED101 - Economic Development Finance October 4-8, 2010
ED201 - Business Credit Analysis December 6-10, 2010
ED202 - Real Estate Finance March 21-25, 2011
ED300 - The Art of Deal Structuring June 13-17, 2011
19
May
NDC’s CELESTIN TO PRESENT AT GREEN OPPORTUNITIES FOR LONG ISLAND SEMINAR
Event Sponsored by Abundant Communities Together, Inc.
NDC Field Director Regina Celestin will participate in a panel discussion at “The Emerging Green Economy: Access & Opportunity for Diverse Communities,” a seminar to be held on Friday, May 21 at the Melville TI Building (68 S. Service Road) in Melville (Nassau County, Long Island), New York. The panel discussion, which includes a Q&A session, is titled, “How to Green Up Your Building & Find the Money to Do It.” Read more…
13
May
Citi Does It Again – 30 New EDFP Certification Program Graduates in South Dakota
This New Group of EDFPs Joins the 42 Graduates of Citi’s First EDFP Certification Program Which Concluded in 2008
The South Dakota EDFP Certification Program graduates were honored at a luncheon held by training sponsor Citi.
On Thursday, May 6, Citi honored the 30 attendees of its latest Economic Development Finance Professional (EDFP) Certification Program with a graduation luncheon. This training marks the culmination of Citi’s second sponsored EDFP Certification Program in South Dakota in five years.
Citing the hard work of training participants and their commitment to obtaining this professional credential over two years, State Director, Citi Community Development, Ruth Christopherson presented each student with a commendation. Ken Stork, President and CEO, Citibank (South Dakota) N.A. and Jerry Nachtigal, State Public Affairs Officer were in attendance to personally congratulate students on their achievement. Read more…
12
May
NDC Projects Make Headlines in the Seattle Daily Journal of Commerce
The Seattle Daily Journal of Commerce profiled two NDC projects this week financed using NDC’s public-private partnership financing model. Download the full text of the Center for Urban Waters and the University of Washington School of Medicine articles in the Seattle DJC. Read more about NDC projects financed using this innovative model.
28
Apr
GAF Borrower is Animatronics Innovator
Garner Holt with his Yeti.
San Bernardino, CA - After two years of research and development on a project that would take his company and with it, the animatronics industry, to a new level, Garner Holt, president of Garner Holt Productions (GHP) in San Bernardino, California, was ready for a working capital loan. He approached the City of San Bernardino for financing.
Since 1999, the City of San Bernardino (where NDC has provided technical assistance since 1986) has been a participant in NDC’s Grow America Fund (GAF) through its Grow San Bernardino Fund, and Holt was referred to NDC Field Director Scott Rodde for his loan. Read more…
26
Apr
NDC and Cuyahoga County, OH
The Baker Building in Cleveland, OH financed with New Markets Tax Credits.
NDC’s work with client community Cuyahoga County, Ohio, has brought a wide range of NDC’s signature services to the area, including the City of Cleveland and the surrounding suburban communities, beginning with the evaluation and negotiation of requests for development assistance - especially where the projects involve multiple public and private funding sources.
One of the County’s primary objectives in creating a partnership with NDC is to increase the knowledge and capacity of economic development professionals throughout the region, including its own staff. NDC’s Economic Development Finance Professional (EDFP) Certification is mandatory for all County community development personnel, ensuring a strong foundation for screening development proposals and for focusing NDC development assistance where it’s needed most. In the case of real estate development projects, NDC training supports staff in recognizing critical project cost and operating pro forma issues. With NDC on-site development assistance, these issues are distilled into questions and recommendations that help the developer improve the bankability of his or her project and reduce the need for the County’s limited gap financing resources. Read more…
26
Apr
Educare: White Center, WA
Educare in White Center, WA opened on March 27. Photo Michael Brunk.
We don’t often think of what we do as child’s play, but the work we did recently with one of our community partners, Puget Sound Educational Service District (PSESD) in the State of Washington, brought us close. PSESD asked NDC to help them create an important new facility in the community of White Center to house a nationally recognized educational program for infants, toddlers and pre-schoolers. White Center is an unincorporated community bordering Seattle, and boasts one of the most ethnically and economically diverse populations in the area.
26
Apr
Lancaster, PA: A Relationship Renewed
The Historic East Side Suites in the heart of downtown Lancaster will undergo a $9.2 million transformation into a mixed-use development with help from NDC's Michelle Mooney and New Markets Tax Credit financing.
The Lancaster Housing Opportunity Partnership (LHOP) of Lancaster, Pennsylvania is NDC’s newest East Team client community.
NDC is no stranger to Lancaster, however. “This is a renewed relationship, based on the results of earlier contracts with Lancaster County, including several loans to Lancaster small businesses from our Grow America Fund (GAF) and the Lancaster Arts Hotel New Markets Tax Credit project,” explains NDC Field Director Michelle Mooney. Mooney will be working directly with Ray D’Agostino, LHOP Executive Director; Phyllis E. Stellfox, LHOP Project Development Manager; and Matthew T. Sternberg, Executive Director, Lancaster County Housing & Redevelopment Authorities (LCHRA).
“We are very excited to have the resources and experience of Michelle and all of NDC available to Lancaster County, our affordable housing development and preservation efforts, as well as supporting community redevelopment in our neighborhoods,” says Ed Kaminski, Director of Acquisitions and New Business for Lancaster’s Housing Development Corporation. “Michelle is already expanding our thinking beyond our standard array of financing tools. We know that in addition to determination, we need to creatively use all available tools to be successful in today’s environment.” Read more…
