New Markets Tax Credit Program

JPMorgan Chase Announces new business and philanthropic commitments to help close the housing affordability gap in Washington D.C. and beyond

Retrieved on: 
Wednesday, June 28, 2023
Banking, Professional Services, Philanthropy, Business, Other Construction & Property, Public Policy, Construction & Property, Other Policy Issues, Other Professional Services, Urban Planning, Finance, Other Philanthropy, Government, JPMorgan Chase, New York City Council Black, Latino and Asian Caucus, Housing, Metropolitan Washington Council of Governments, LISC, New Markets Tax Credit Program, Organization, United States Census Bureau, Economic development, Center for Economic Studies (U.S. Census Bureau), White, Owner-occupancy, Renewable energy, Bottled water

On Wednesday, JPMorgan Chase announced new philanthropic and expanded business commitments as part of its firmwide approach to addressing the housing affordability gap.

Key Points: 
  • On Wednesday, JPMorgan Chase announced new philanthropic and expanded business commitments as part of its firmwide approach to addressing the housing affordability gap.
  • Today’s announcement marks two years into JPMorgan Chase’s $400 million five-year commitment to improve housing affordability and stability for underserved households.
  • Since 2021, JPMorgan Chase has deployed more than $224 million in low-cost loans, equity investments and grants to 153 organizations across the U.S. to help close the housing affordability gap.
  • According to the Metropolitan Washington Council of Governments, the region needs 320,000 additional units of housing by 2030 to accommodate burgeoning demand.

Cohen & Company Announces 2023 Partner Promotions

Retrieved on: 
Tuesday, June 6, 2023
Construction, H. C. Cohen Company Building–Andrews Building, Chlorofluorocarbon, New Markets Tax Credit Program, Accounting, Level 3, Inflation, Krista, Inflation Reduction Act of 2022, Financial services, Consultant, Synthetic oil

CLEVELAND and AKRON, Ohio and PITTSBURGH, June 6, 2023 /PRNewswire/ -- Cohen & Company has elected five individuals to its 2023 partner class, effective June 1: Julie Lowry, Kaitlin Mansfield, Angel Rice, Robert Venables and Krista Zuchowski.

Key Points: 
  • CLEVELAND and AKRON, Ohio and PITTSBURGH, June 6, 2023 /PRNewswire/ -- Cohen & Company has elected five individuals to its 2023 partner class, effective June 1: Julie Lowry, Kaitlin Mansfield, Angel Rice, Robert Venables and Krista Zuchowski.
  • "Our new partners have accomplished so much already in their careers," says Cohen & Company CEO Chris Bellamy.
  • Robert Venables │ Tax Partner │ Akron, OH
    Robert advises closely held and private equity owned businesses in a variety of industries.
  • Krista Zuchowski │ Tax Partner │ Cleveland, OH
    Krista helps private companies and their owners work through a variety of technical issues relating to accounting and taxation.

UB Community Development, a subsidiary of United Bancorporation of Alabama, Inc., Announces $25 Million in New Markets Tax Credit Funds to University Charter School

Retrieved on: 
Tuesday, May 16, 2023
Learning, UB, University, University Charter School, Life, Curriculum, National University of Sciences & Technology, NMTC, Student, STREAM, Nature, New Markets Tax Credit Program, School, UCS, United Bank, Nursing, Mathematics, Engineering

Dr. JJ Wedgworth, Head of School of University Charter School, stated, "UCS is honored to be able to partner with UB Community Development, LLC, on our new facility project as we grow our impact in Sumter County.

Key Points: 
  • Dr. JJ Wedgworth, Head of School of University Charter School, stated, "UCS is honored to be able to partner with UB Community Development, LLC, on our new facility project as we grow our impact in Sumter County.
  • We are extremely grateful to have a beautiful new state-of-the-art facility to house our students and support the greater needs of the Sumter County community.
  • With the allocation of tax credits from UB Community Development, LLC, it allows us to expand, offer new programs and customize our space to create learning environments that best match student needs."
  • University Charter School was established in 2018 and is located on the campus of the University of West Alabama.

F.N.B. Corporation Commits $1.1 Million to Hill District Federal Credit Union

Retrieved on: 
Monday, May 15, 2023
Partnership, Housing, MDI, Education, Quality of life, Centre Avenue, FNB Corporation, New Markets Tax Credit Program, First National Bank, Investment, Business Line, Economic development, Knowledge, FNB, NYSE, EQ2, Management, Renewable energy

PITTSBURGH, May 15, 2023 /PRNewswire/ -- F.N.B. Corporation (NYSE: FNB), the holding company for First National Bank (FNB), announced a $1.1 million investment in the Hill District Federal Credit Union (HDFCU) that will empower the Minority Depository Institution's (MDI) mission to deliver vital financial services and resources to a historically underserved community.

Key Points: 
  • Corporation (NYSE: FNB), the holding company for First National Bank (FNB), announced a $1.1 million investment in the Hill District Federal Credit Union (HDFCU) that will empower the Minority Depository Institution's (MDI) mission to deliver vital financial services and resources to a historically underserved community.
  • The Company is injecting a total of more than $200 million in loans, investments and grants to foster revitalization in the Hill District, which is the site of its new corporate headquarters, FNB Financial Center.
  • The HDFCU also plans to turn 5,000 square feet of vacant space into four affordable apartments for Hill District residents.
  • FNB's contributions to the Hill District highlight its guiding mission to improve the quality of life in all of its service areas.

Affordable housing, homelessness, and housing justice advocates issue joint statement urging revisitation of Governor's May Revise Budget Proposal

Retrieved on: 
Saturday, May 13, 2023
Housing, Legislature, Senate, Homelessness, Multimedia, New Markets Tax Credit Program, Revision, Administration, Portfolio, Assistance, Investment, Renewable energy, George House (California politician)

SACRAMENTO, Calif., May 12, 2023 /PRNewswire/ -- Our coalition of California's leading affordable housing, homelessness, and housing justice organizations, of which Housing California is a member, appreciate the Newsom administration's values-driven May Revision that maintains the critical housing and homelessness commitments from last year's budget.

Key Points: 
  • SACRAMENTO, Calif., May 12, 2023 /PRNewswire/ -- Our coalition of California's leading affordable housing, homelessness, and housing justice organizations, of which Housing California is a member, appreciate the Newsom administration's values-driven May Revision that maintains the critical housing and homelessness commitments from last year's budget.
  • The Revision articulates the Governor's continued commitment to the most pressing issues facing our state, including homelessness and housing affordability, and deference to sobering projections of an economic downturn.
  • These programs have a proven track-record of addressing housing affordability and homelessness across California.
  • The Senate Budget Plan builds on the Governor's proposal and would provide additional resources for key programs, including ongoing investment in homelessness and resources for key housing production programs.

Danimer Scientific Announces First Quarter 2023 Results

Retrieved on: 
Wednesday, May 10, 2023
Environmental Health, Technology, Public Policy, Government, Science, Other Energy, Other Manufacturing, Packaging, Alternative Energy, Energy, Other Science, Chemicals, Plastics, Research, Nanotechnology, Manufacturing, Sustainability, Other Policy Issues, Environment, U.S. Department of Energy, Office of Inspector General, Maintenance, Plastic, SG, U.S. Department of Defense Strategy for Operating in Cyberspace, Title, DNMR, Part, DOE, PHA, Investment, New Markets Tax Credit Program, Doe, Webcast, Growth, PLA, Conference, NYSE, Video game, Pharmaceutical industry, Adjustment, 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, announced today financial results for its first quarter, ended March 31, 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, announced today financial results for its first quarter, ended March 31, 2023.
  • Stephen E. Croskrey, Chairman and Chief Executive Officer of Danimer, commented, “We completed the first quarter in line with our expectations.
  • The Company will host a webcast and conference call today, May 10, 2023 at 5:00 p.m. Eastern time to review first quarter 2023 results, discuss recent events and conduct a question-and-answer session.
  • Upon dialing in, please request to join the Danimer Scientific First Quarter 2023 Earnings Conference Call.

Greater Roxbury Arts & Cultural Center Announces OrigiNation as Resident Dance Company

Retrieved on: 
Tuesday, May 9, 2023
Partnership, Education, Art, New Markets Tax Credit Program, PDD, OCVTS Performing Arts Academy, Boston Planning & Development Agency, Telephony, African diaspora, NSA, Restaurant, BDPA, Physical fitness, Boy, PAA, African Americans, Aid, Nightclub, Entertainment, Management, Nubian Square, African

BOSTON, May 9, 2023 /PRNewswire-PRWeb/ -- Greater Roxbury Arts & Cultural Center, Inc., (GRACC) the nonprofit formed in 2022 to develop a Black and Latinx-focused visual and performing arts center in Nubian Square, has announced that OrigiNation Inc. (OrigiNation) will be its resident dance company at GRACC when it is completed, making OrigiNation the first professional Black and Latino youth dance company in the nation in residence at a performing arts center especially designed for the African and Latinx Diasporas.

Key Points: 
  • Greater Roxbury Arts & Cultural Center, Inc., (GRACC), the nonprofit Black and Latinx-focused visual and performing arts center under development in Nubian Square, has announced that OrigiNation's professional dance division will be its resident dance company at GRACC when it is completed, making OrigiNation the first professional Black and Latino youth dance company in the nation in residence at a performing arts center especially designed for the African Diaspora.
  • BOSTON, May 9, 2023 /PRNewswire-PRWeb/ -- Greater Roxbury Arts & Cultural Center, Inc., (GRACC) the nonprofit formed in 2022 to develop a Black and Latinx-focused visual and performing arts center in Nubian Square, has announced that OrigiNation Inc. (OrigiNation) will be its resident dance company at GRACC when it is completed, making OrigiNation the first professional Black and Latino youth dance company in the nation in residence at a performing arts center especially designed for the African and Latinx Diasporas.
  • OrigiNation's Professional Dance Division (PDD) will present a season of performances at GRACC annually in GRACC's 310-seat stage theater as the resident dance company.
  • ‒OrigiNation is excited to sign a memorandum of understanding with GRACC as its first resident performing arts organization,– said Musau Dibinga, Executive Director of OrigiNation.

Bloomberg Tax & Accounting Recognizes Federal Authors of The Year

Retrieved on: 
Tuesday, May 9, 2023
Joint Ventures, Global minimum corporate tax rate, Partnership, IRS, Bipartisan Budget Act of 2018, PwC, TCJA, Associate, Distinguished Service Cross (United States), Answer, Leonard, Knowledge, New Markets Tax Credit Program, KPMG, Foreign tax credit, Cryptocurrency, Renewable energy

Sam has been a driving force behind numerous contributions to Bloomberg Tax for many years, including authoring three Tax Management Portfolios on S Corporations.

Key Points: 
  • Sam has been a driving force behind numerous contributions to Bloomberg Tax for many years, including authoring three Tax Management Portfolios on S Corporations.
  • He spent the bulk of his career at PwC as a tax partner, specializing in pass-through entities, and as chief tax officer of the firm.
  • The Federal Tax Portfolio Author of the Year award went to two groups of Portfolio authors.
  • "The leading federal tax practitioners we honored this year share an incredible ability to not only distill and break down what complex tax laws and regulations mean but also provide critical details of their real-life implications for individuals and businesses," said Lisa Fitzpatrick, president, Bloomberg Tax & Accounting.

New Markets Venture Partners Releases Latest Impact Report Highlighting A Decade of Double-Bottom Line Investments

Retrieved on: 
Wednesday, April 19, 2023
Workforce, Education, ICM, General partnership, Social, MBA, Bill & Melinda Gates Foundation, Movement, Literacy, Friends, Student, Investment, Century, Strada Education Network, Bill, Lumina Foundation, SRI, Renewable energy, Nursing, New Markets Tax Credit Program

FULTON, Md., April 19, 2023 /PRNewswire/ -- New Markets Venture Partners ('New Markets'), the nation's first edtech-focused venture capital firm announces today the release of its new 2023 Impact Report. The firm's team has decades of experience as a double-bottom-line investor and has been driving sustainable social impact dating back to the Socially Responsible Investor (SRI) movement of the 1990s. The report highlights New Markets' solutions and methodology to address key milestones and loss points along the education-to-employment journey, and the individual and collective accomplishments of the firm's portfolio companies since 2012 to significantly improve lifecycle outcomes, especially for those who are most at-risk. 

Key Points: 
  • FULTON, Md., April 19, 2023 /PRNewswire/ -- New Markets Venture Partners ('New Markets'), the nation's first edtech-focused venture capital firm announces today the release of its new 2023 Impact Report .
  • As part of this commitment, New Markets continues to play a key leadership role within the impact investing industry.
  • "We are also especially grateful to many thought partners and capital partners who have helped us along our own impact journey.
  • For more information, download New Markets 2023 Impact Report: https://newmarketsvp.com/our-impact/

NEW YORK CITY REGIONAL CENTER-MANAGED ENTITY PROVIDES FUNDING FOR CONSTRUCTION OF A FIFTH CHARTER SCHOOL

Retrieved on: 
Monday, April 17, 2023
Poverty, New Markets Tax Credit Program, U.S. Department of Defense Strategy for Operating in Cyberspace, Face, Foot, Computer science, New York City Department of Education, NMTC, Congress, Treasury, School, Student, Investment, Lunch, New York City Regional Center, Community development, Counselor, Cryptocurrency, Tutoring, Tourism

NEW YORK, April 17, 2023 /PRNewswire/ -- The New York City Regional Center is pleased to announce the closing of $15,000,000 in New Market Tax Credit financing to assist the construction of a new 45,979 square foot charter school in the Bronx.  This is the fifth charter school that has utilized New Market Tax Credit ("NMTC") funding from a New York City Regional Center-managed entity and the third in the Bronx.  The tenant of the new state-of-the-art facility will be Urban Assembly Charter School for Computer Science (d/b/a Comp Sci High), a not-for-profit corporation offering quality education to students in the Bronx.    

Key Points: 
  • This is the fifth charter school that has utilized New Market Tax Credit ("NMTC") funding from a New York City Regional Center-managed entity and the third in the Bronx.
  • To receive a NMTC allocation award, the New York City Regional Center was required to demonstrate a mission and track record of providing investment capital for low-income communities.
  • As mentioned above, this is the fifth charter school whose construction the New York City Regional Center-managed entity has help fund.
  • Since 2016, a New York City Regional Center-managed entity has received five separate NMTC awards from the U.S. Department of Treasury totaling $210 million.