Newly launched NDC Corporate Equity Fund X, L.P, will raise up to $100,000,000 to continue and expand our 17-year, $450,000,000 affordable housing program across the country.
19
Apr
27
Mar
Seattle’s Daily Journal of Commerce names NDC’s Center for Urban Waters Project of the Month
NDC’s Tacoma based Center for Urban Waters is recognized for its path-breaking design and its role in reclaiming on of Tacoma’s most contaminated areas.
23
Mar
MEMPHIS AND NDC GIVE LOCAL SMALL BUSINESSES THE “EDGE”
Innovative EDGE Impact Fund Promises to Create Much-Needed Jobs
Memphis and Shelby County have a powerful new tool designed to create jobs and improve the local economy. The EDGE Impact Fund, just approved by the Economic Development Growth Engine (EDGE) Board, will pump $500,000 into a new loan fund for expanding small and medium-sized businesses. Leverage will turn the initial capitalization into a pool of $3.0 million for loans available to businesses in underserved areas. NDC, through its Grow America Fund, will administer the EDGE Impact Fund and get good financing to expanding small businesses that are creating jobs. This is just the latest initiative in the City’s and NDC’s over two-decade partnership that has seen the design of programs and financing of projects that benefit the area’s low and moderate-income people.
12
Mar
NDC CEF Announces New $100 Million Affordable Housing Tax Credit Fund
The NDC Corporate Equity Fund (CEF), NDC’s affordable housing program, marks the beginning of its 18th year with the launch of its tenth Fund, a $100 million fund designed for investment in affordable housing projects throughout the country. CEF has invested more than $450 million in over 7,500 units of quality affordable housing for families, seniors and people with special needs in rural and urban areas of 27 states and the Commonwealth of Puerto Rico.
8
Mar
1
Mar
NDC’s Renewable Energy Program
NDC has launched a Renewable Energy Finance Program to help bring down the costs of going green. As an extension of our work with Low-Income Housing, Historic Rehabilitation and New Markets tax credits, we have added the Renewable Energy Investment Tax Credit to the family of investment tax equity products. Drawing on our experience in structuring difficult investments, we work with solar photovoltaic, solar thermal, fuel cell, geothermal and small wind projects. We see it as a great opportunity to promote the widespread use of renewable energy generating sources.
Download NDC’s Renewable Energy Program Information
NDC’s Renewable Energy Program Brochure
1
Mar
Public-Private Partnerships
With decades of successful experience in financing and community development, 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.
Using various tax-exempt financing vehicles, and a rigorous public selection and oversight process, NDC’s public-private partnerships combine the benefits of private development (efficiency and speed) and public accountability in building, owning and operating public facilities - facilities, infrastructure (roads and sewer lines), parking garages and student housing. This method is especially effective for projects that combine public and private uses, particularly transit-oriented development.
For a closer look at our Washington State projects
Download Public-Private Partnership Information
NDC Public- Private Partnership
1
Mar
PORTFOLIO, STATISTICS AND BROCHURE: HEDC NEW MARKETS, INC
NDC has been using New Markets Tax Credits (NMTC) to support economic and community development for five years. We not only provide tax credit equity to our client communities’ projects, but we also help communities structure their NMTC deals, find the necessary additional financing, and develop relationships with other organizations that receive allocations of the tax credits (Community Development Entities or CDEs) to provide NMTC equity when we cannot. We have strong relationships with other CDEs and frequently work in partnership with them to ensure that projects have sufficient NMTC equity. Our strong investor relationships and experience working with both public and private financing tools ensure that our projects get done. We are currently working with client communities to invest our most recent $110 million allocation of NMTCs.
Download NDC HEDC New Markets, Inc Information
1
Mar
Portfolio, Statistics and Brochure: NDC Grow America Fund (GAF)
The NDC Grow America Fund (GAF), in cooperation with our Community Partners, provides financing to growing small businesses throughout the country. GAF operates as a community development lender to support the creation of jobs and the expansion of eligible small businesses in underserved areas, particularly minority and women-owned businesses. The financing provided is partially guaranteed by the U.S. Small Business Administration under GAF’s Small Business Lending Company license, and GAF has Preferred Lender status nationwide.
Download NDC Grow America Fund (GAF) Information
GAF Brochure 
GAF Portfolio & Statistics
27
Feb
Elli Papadopoulos, GAF Loan Officer Discusses GAF Small Business lending Model at the Montelione Workshop
The goal of the panel discussion was to address the relationship between the lender and borrower, and the communication between the parties. The workshop was an excellent opportunity for NDC to share their program expertise with the local community.
27
Feb
Landmark Health and Wellness Outreach Center Recognized as the Recipient of The Build Michigan Award
NDC is proud to congratulate 5716 Michigan Avenue on the receipt of the Build Michigan Award. The project used NDC New Markets Allocation to complete the renovation of a 50,000 square foot building in the city’s struggling Michigan Avenue Corridor.
27
Feb
NDC Receives $90 Million New Markets Tax Credit Allocation Award
NDC received a $90,000,000 New Markets Tax Credit (NMTC) allocation, announced on Thursday, February 23, 2012 by the U.S. Department of the Treasury Community Development Financial Institutions Fund (CDFI Fund). The allocation is part of the CDFI Fund’s $3.6 billion 2012 NMTC program bringing private investment into low-income and distressed communities throughout the U.S.
As one of only 70 organizations to receive an allocation this year, out of 314 applicants, NDC continues to stand among the top three or four non-profits bringing this resource to low-income communities in rural and urban areas around the country. The new allocation will bring NDC’s total to $639,000,000.
NDC President Robert W. Davenport said, “NDC is proud and honored to have a role in this important program. It is the most powerful economic development resource available from the Federal government, and it has helped NDC to deliver on our own mission to help revitalize struggling communities across the country.”
With its previous $549,000,000 in NMTC allocations NDC has brought more than $1.2 billion in investment to 67 projects in 24 states. The projects include manufacturing businesses, research and development facilities, and retail and commercial development in underserved neighborhoods, as well as community facilities that provide health, social and educational services to low-income individuals and families.
22
Feb
Video Profile of Island Hospital in Anacortes
© 2012 Doug Scott / dougscott.com
Photographer Doug Scott put together a lovely video of a New Markets Tax Credit project in Washington State.
To view the video: http://vimeo.com/36996512/
More about Island Hospital’s Medical Arts Pavilion
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.
17
Feb
San Jose Closes Innovative NMTC Transaction
Rendering by Group 4 Architecture
The City of San Jose’s Environmental Innovation Center, the city’s 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.”
17
Feb
NDC Lends Bridgeport the Tools for Downtown Revitalization New Markets Tax Credits, Historic Tax Credits and a GAF loan key to City’s Reinvestment
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
HEDC New Markets, Inc. Proud to announce the opening of Old Town Hall in Stamford, CT
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.
1
Feb
NDC’s Corporate Equity Fund Closes Burl Oaks Townhomes; First LIHTC Project of 2012
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
Open house for new Medical Arts Pavilion at Island Hospital
© 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
NDC’s New Markets Tax Credit Allocation Advances Mental Health and Wellness Center Project in Washington State
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
Salt Lake County and NDC: A Partnership that Achieves Results
New Markets Tax Credits a Key to Success
Several years ago Salt Lake officials came to NDC looking for our special brand of financing and deal structuring expertise on a variety of local community development projects and initiatives. The results speak for themselves: projects include the Sorenson Unity Community Center, Artspace Utah’s Artspace Commons mixed-use development, the recently-opened Magna Library and the installation of solar panels atop Salt Lake County’s Convention Center. NDC, through its affiliate, HEDC-New Markets, was instrumental in generating equity for the Magna Library and Convention Center projects. Darrin Casper, Salt Lake County chief financial officer, is justifiably proud of these accomplishments. “We’ve been able to turn development opportunities into results, and these projects provide vital community facilities and much-needed jobs for County residents.” Casper is quick to point out that NDC’s assistance has been critical to the County’s success. Chuck Depew, NDC’s Seattle office director, “has a knack for structuring complex projects with innovative financing while balancing the needs of the key players. Without Chuck’s help these projects might still be on paper instead of in the ground.”
