New Markets Tax Credit Program

COMPASS HOUSING ALLIANCE WELCOMES MICHAEL BAILEY AS ITS NEW LEADER

Retrieved on: 
Wednesday, September 27, 2023
State, Food, Housing, New Mexico Office of African American Affairs, Human services, Policy, Lead, Commissioner, Outreach, New Markets Tax Credit Program, City, Georgia Department of Community Supervision, Risk, Growth, Safety, Management, Bailey, Compass, Puget Sound

SEATTLE, Sept. 27, 2023 /PRNewswire/ -- Compass Housing Alliance, a leading provider of affordable housing, shelter, and emergency services throughout the Puget Sound region, is excited to announce the appointment of Michael Bailey as its new President effective October 16, 2023.

Key Points: 
  • SEATTLE, Sept. 27, 2023 /PRNewswire/ -- Compass Housing Alliance, a leading provider of affordable housing, shelter, and emergency services throughout the Puget Sound region, is excited to announce the appointment of Michael Bailey as its new President effective October 16, 2023.
  • Bailey, a thoughtful and passionate leader, brings a wealth of experience to Compass.
  • With a proven track record of collaborating with diversified stakeholders, Bailey is poised to lead Compass Housing into its next century of service.
  • His exceptional leadership skills, varied experience, strategic insights, and deep background in public roles make him the ideal choice to lead Compass.

Fannie Mae Launches New Resources to Help Latino Communities Access Homeownership

Retrieved on: 
Wednesday, September 27, 2023
Housing, Fannie Mae, OTCQB, History, New Markets Tax Credit Program, Urban Institute, The Urban Institute, FNMA, City, SPCP, Financial adviser, Real estate, Tourism

WASHINGTON, Sept. 27, 2023 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced new resources and programs to provide responsible access to housing and long-term sustainable homeownership opportunities across the country for Latino communities and further the company's mission.

Key Points: 
  • WASHINGTON, Sept. 27, 2023 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced new resources and programs to provide responsible access to housing and long-term sustainable homeownership opportunities across the country for Latino communities and further the company's mission.
  • Thin or insufficient credit history is a challenge disproportionately faced by Latino renters and first-time homebuyers, according to Fannie Mae's Latino Housing Journey research.
  • Fannie Mae plans to further expand the program to additional cities, to include those with large Latino populations early next year.
  • Additional resources are available to learn more about Fannie Mae's approach to providing equitable and sustainable access to housing opportunities for the Latino community.

United Bank Wins Sixth New Markets Tax Credit Allocation for $65 Million

Retrieved on: 
Wednesday, September 27, 2023
Small business, Community Development Financial Institutions Fund, New Markets Tax Credit Program, Treasury, Congress, United States Department of the Treasury, Investment, CDFI, United Bank (Atlanta metropolitan area), United Bank, Bank

ATMORE, Ala., Sept. 27, 2023 /PRNewswire/ -- United Bank is pleased to announce it has been awarded a $65 million New Markets Tax Credit Allocation by the Department of the Treasury through UB Community Development (UBCD). The award is the result of United Bank's ongoing commitment to enhancing the economic vitality of low-income communities in Alabama and in Northwest Florida. Today's announcement marks the sixth allocation United Bank and UBCD have received from the CDFI Fund totaling $360 million for Alabama and Florida.

Key Points: 
  • ATMORE, Ala., Sept. 27, 2023 /PRNewswire/ -- United Bank is pleased to announce it has been awarded a $65 million New Markets Tax Credit Allocation by the Department of the Treasury through UB Community Development (UBCD).
  • Today's announcement marks the sixth allocation United Bank and UBCD have received from the CDFI Fund totaling $360 million for Alabama and Florida.
  • United Bank has been awarded a $65 million New Markets Tax Credit Allocation by the Department of the Treasury.
  • The New Markets Tax Credit is a 39 percent federal tax credit, taken over seven years on investments made in those communities.

Apogee Enterprises Reports Fiscal 2024 Second Quarter Results

Retrieved on: 
Tuesday, September 19, 2023
Architecture, Commercial Building & Real Estate, Construction & Property, Other Manufacturing, Building Systems, REIT, Other Construction & Property, Manufacturing, Capital expenditure, Apsis, GAAP, Central Time, Public expenditure, Architectural Services Department, Investment, New Markets Tax Credit Program, Corporation, Capital, Webcast, Growth, EPS, Glass, Pharmaceutical industry, Retail, Security (finance), Natural gas, Cryptocurrency, Architectural glass

“Second quarter operating margin of 11.5% exceeded our 10% target for the first time since we established our financial goals in November 2021.

Key Points: 
  • “Second quarter operating margin of 11.5% exceeded our 10% target for the first time since we established our financial goals in November 2021.
  • Net cash provided by operating activities in the quarter was $41.3 million, compared to $27.8 million in last year’s second quarter.
  • The net leverage ratio3 as of the end of the second quarter was 0.7x compared to 0.9x at the end of fiscal 2023.
  • As a reminder, fiscal 2024 is a 53-week year, with an extra week in the fourth quarter.

CDFI Awards Rural Development Partners $50 Million in NMTC Authority

Retrieved on: 
Friday, September 22, 2023
New Markets Tax Credit Program, Community Development Financial Institutions Fund, Office of the Supervising Architect for the U.S. Treasury, Quality of life, NMTC, Multimedia, Federal, Congress, FOREST, Treasury, RDP, Investment, CDFI, CDE, Renewable energy, Bank

FOREST CITY, Iowa, Sept. 22, 2023 /PRNewswire/ -- Rural Development Partners (RDP) was awarded $50 million in New Markets Tax Credit (NMTC) authority from the U.S. Treasury's CDFI Fund .

Key Points: 
  • FOREST CITY, Iowa, Sept. 22, 2023 /PRNewswire/ -- Rural Development Partners (RDP) was awarded $50 million in New Markets Tax Credit (NMTC) authority from the U.S. Treasury's CDFI Fund .
  • This is RDP's twelfth NMTC award since the company's inception in 2004, totaling $751.7 million.
  • The New Markets Tax Credit program incentivizes community development and economic growth by attracting private capital to low-income, underserved communities.
  • Rural Development Partners is a Community Development Entity (CDE) with a national service area, eligible to apply for an annual allocation of Federal NMTCs.

City National Bank Introduces Ladder Up Home Loan Program to Expand Homeownership Opportunities in Underserved Communities

Retrieved on: 
Tuesday, September 12, 2023
City National Bank of Florida, New Markets Tax Credit Program, Head, Community, City National Bank, Bank

LOS ANGELES, Sept. 12, 2023 (GLOBE NEWSWIRE) -- City National Bank today announced a new mortgage program to help individuals and families in eligible areas purchase or refinance a home.

Key Points: 
  • LOS ANGELES, Sept. 12, 2023 (GLOBE NEWSWIRE) -- City National Bank today announced a new mortgage program to help individuals and families in eligible areas purchase or refinance a home.
  • Ladder Up provides borrowers with grant assistance, a mortgage program, credit education and excellent service to help families and individuals ascend the ladder of financial success and wealth building.
  • “Our Ladder Up Home Loan Program will help make the dream of sustained homeownership attainable for more underserved borrowers in our communities.
  • In the coming months, City National will launch another Special Purpose Credit Program aimed to serve minority owned businesses.

KeyBank Surpasses $1 Million Funded in Home Buyer Credits

Retrieved on: 
Wednesday, August 30, 2023
KeyBank, Education, Marketing, Tax, Key, Person, Family, New Markets Tax Credit Program, Real estate

CLEVELAND, Aug. 30, 2023 /PRNewswire/ -- Today, KeyBank announced that it has funded more than $1 million in KeyBank Home Buyer CreditsSM since the program's launch in September 2022, helping 245 clients achieve their dream of homeownership in areas where the program is available.

Key Points: 
  • At Key, we believe that healthy communities are those where all residents have access to homeownership," said Dale Baker, president of Home Lending at KeyBank.
  • Since the program began on March 1, 2023, through August 28, 2023, KeyBank funded $4.7 million in loans, helping 92 clients secure loans for their primary home in designated communities.
  • Also, as of August 25, 2023, KeyBank has $10.8 million in mortgage loan applications for approximately $345,000 in Neighbors First Credits to assist 71 clients (inclusive of the funded credits shared above) on their path to homeownership in these locations.
  • With both the Neighbors First Credit and KeyBank Home Buyer Credit in place, Key has purchase credits available in over 9,500 census tracts, covering areas where 10% of the U.S population lives.

Danimer Scientific Announces Second Quarter 2023 Results

Retrieved on: 
Tuesday, August 8, 2023
Green Technology, Manufacturing, Environment, Sustainability, Chemicals, Plastics, U.S. Department of Energy, Office of Inspector General, U.S. Department of Commerce Office of Security, Title, DNMR, Part, DOE, Primary energy, Public expenditure, Science, PHA, New Markets Tax Credit Program, Growth, Webcast, PLA, Adjustment, Bias, Conference, NYSE, Legislation, Security (finance), Video game, Pharmaceutical industry, EU, Danimer Scientific

Danimer Scientific, Inc. (NYSE: DNMR) (“Danimer” or the “Company”), a leading next-generation bioplastics company focused on the development and production of highly engineered biodegradable materials, today announced financial results for its second quarter, ended June 30, 2023.

Key Points: 
  • Danimer Scientific, Inc. (NYSE: DNMR) (“Danimer” or the “Company”), a leading next-generation bioplastics company focused on the development and production of highly engineered biodegradable materials, today announced financial results for its second quarter, ended June 30, 2023.
  • Stephen E. Croskrey, Chairman and Chief Executive Officer of Danimer, commented, “During the second quarter, we made progress in a number of areas.
  • Adjusted EBITDAin the second quarter of 2023 improved to $(10.2) million as compared to $(12.9) million in the second quarter of 2022.
  • Upon dialing in, please request to join the Danimer Scientific Second Quarter 2023 Earnings Conference Call.

Santa Cruz County Bank Announces New Chief Credit Officer Shawn Lipman

Retrieved on: 
Monday, August 7, 2023
New Markets Tax Credit Program, Senior, Team leader, Paycheck Protection Program, Paycheck Protection Program and Health Care Enhancement Act, Business administration, OTCQX, Knowledge, Bank, Credit, Union Bank, San Diego State University, Shawn, Management

SANTA CRUZ, Calif., Aug. 7, 2023 /PRNewswire/ -- Santa Cruz County Bank (OTCQX: SCZC) www.sccountybank.com with assets over $1.75 billion, is a top-rated community bank headquartered in Santa Cruz County.

Key Points: 
  • SANTA CRUZ, Calif., Aug. 7, 2023 /PRNewswire/ -- Santa Cruz County Bank (OTCQX: SCZC) www.sccountybank.com with assets over $1.75 billion, is a top-rated community bank headquartered in Santa Cruz County.
  • Today the Bank announced Shawn Lipman, who has worked for the Bank since 2011, will succeed Susan Just as Executive Vice President and Chief Credit Officer.
  • Ms. Just has served in the Chief Credit Officer role for the past two years and is leaving the Bank in late August.
  • In his 12-year career at Santa Cruz County Bank, Mr. Lipman was promoted multiple times and served for the past two years as Senior Vice President and Director of Credit Administration.

United Bancorporation of Alabama, Inc. Announces Second Quarter Earnings and Repurchase Program

Retrieved on: 
Friday, July 28, 2023
UB, Housing, Repurchase agreement, New Markets Tax Credit Program, FDIC, Urban Homesteading Assistance Board, CDFI, Community development financial institution, Economic development, OTCQX, Community development, United Bank, Cryptocurrency, Bank, Inc., United

ATMORE, Ala., July 28, 2023 /PRNewswire/ -- (OTCQX: UBAB)- United Bancorporation of Alabama, Inc., parent company of United Bank (UB), Town-Country United Bank (TCUB), and UB Community Development (UBCD), announces its financial results for the second quarter ending June 30, 2023.

Key Points: 
  • ATMORE, Ala., July 28, 2023 /PRNewswire/ -- (OTCQX: UBAB)- United Bancorporation of Alabama, Inc., parent company of United Bank (UB), Town-Country United Bank (TCUB), and UB Community Development (UBCD), announces its financial results for the second quarter ending June 30, 2023.
  • Earnings per share for the six months were $3.88 compared to $2.11 for the same period in 2022.
  • United reported $7.3 million net income for the quarter ending June 30, 2023, compared to $4.9 million for Q2 2022.
  • On July 25, 2023, the Board of Directors of United (the "Board") approved a stock repurchase program (the "Repurchase Program").