New Markets Tax Credit Program

PHFA announces $4.8 million for community revitalization projects

Retrieved on: 
Thursday, April 13, 2023
General assembly, Housing, Assembly, Pennsylvania Housing Finance Agency, Rehabilitation, New Markets Tax Credit Program, Sale, Administration, City, Commonwealth, Renewable energy, Video game

HARRISBURG, Pa., April 13, 2023 /PRNewswire/ -- The Pennsylvania Housing Finance Agency today announced seven projects to be awarded $4.8 million for the construction or rehabilitation of mixed-used developments. The funding was raised through the sale of tax credits under the Mixed-Use Development Tax Credit Program, the proceeds of which are being used to fund the work of the Community Revitalization Fund Program.

Key Points: 
  • The goal of the Community Revitalization Fund Program is to stimulate high-impact neighborhood revitalization projects around the state.
  • PHFA is allocated $4.5 million in credits annually to sell to generate community revitalization capital.
  • The Community Revitalization Fund Program seeks to expand or rehabilitate affordable housing coupled with retail/commercial space to promote community revitalization, especially in those parts of the state that are struggling economically.
  • The application of funding through the Community Revitalization Fund Program is flexible, and it can be used in a number of ways to address the program's objectives.

UB Community Development, a subsidiary of United Bancorporation of Alabama, Inc., Announces $12.5 Million in New Markets Tax Credit Funds to Alabama School of Mathematics and Science.

Retrieved on: 
Thursday, March 30, 2023
State, Partnership, UB, Education, ASMS, Humanities, Research, Alabama School of Mathematics and Science, Employment Development Department, NMTC, Student, Admission, New Markets Tax Credit Program, Engineering, Leadership Academy, United Bank, Tutoring, Nursing, Science, Mathematics, STEM

As we look to the next 30 years for our school, a new science building and research facility is essential to achieving our strategic plan.

Key Points: 
  • As we look to the next 30 years for our school, a new science building and research facility is essential to achieving our strategic plan.
  • We are deeply grateful for the time and investment of the UB Community Development team in making this new building possible for ASMS.
  • "ASMS serves high school students from across the State of Alabama at no cost to them or their families," stated Alex Jones, President of UB Community Development.
  • This camp offers a creative learning opportunity for over 1,200 students from across the State in 7th through 9th grades each summer.

Danimer Scientific Announces Fourth Quarter and Full Year 2022 Results

Retrieved on: 
Tuesday, March 28, 2023
Manufacturing, Environment, Nanotechnology, Technology, Chemicals, Plastics, U.S. Department of Energy, Office of Inspector General, Maintenance, Plastic, U.S. Department of Defense Strategy for Operating in Cyberspace, SG, Bank statement, Biotechnology, DNMR, Part, DOE, Science, EBITDA, PHA, Investment, New Markets Tax Credit Program, Webcast, PLA, Conference, NYSE, Fine chemical, Video game, Pharmaceutical industry, Cryptocurrency, 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 biodegradable materials, announced today financial results for its fourth quarter and full year, ended December 31, 2022.

Key Points: 
  • Danimer Scientific, Inc. (NYSE: DNMR) (“Danimer” or the “Company”), a leading next generation bioplastics company focused on the development and production of biodegradable materials, announced today financial results for its fourth quarter and full year, ended December 31, 2022.
  • Fourth Quarter 2022 Financial Highlights:
    Revenues were $15.3 million in the fourth quarter of 2022 compared to $17.7 million in the fourth quarter of 2021.
  • Adjusted EBITDA improved to $(8.6) million in the fourth quarter of 2022 compared to $(10.2) million in the fourth quarter of 2021, due primarily to the above-mentioned improvements in gross profit.
  • Upon dialing in, please request to join the Danimer Scientific Full Year 2022 Earnings Conference Call.

Rural Development Partners Helps Crown Equipment Bring Jobs to America

Retrieved on: 
Wednesday, March 15, 2023
Rural areas in the United States, Multimedia, Acquisition, CFO, FOREST, Office of the Supervising Architect for the U.S. Treasury, Organization, Food security, Senior, Investment, New Markets Tax Credit Program, U.S. Bancorp, RDP, NMTC, Crown Equipment Corporation, Social media, SF, Disability and Development Partners, Community capitalism, Renewable energy, Crown

The expansion is expected to create 192 jobs and retain 340 in the region, some of which will be re-shored from the Company's overseas operations.

Key Points: 
  • The expansion is expected to create 192 jobs and retain 340 in the region, some of which will be re-shored from the Company's overseas operations.
  • The expansion will bring even more high-quality jobs to the region in addition to the onshoring of jobs currently held overseas.
  • – Craig Seitz, Senior VP & CFO of Crown Equipment
    Rura l Development Partners utilizes the NMTC Program to help organizations throughout the nation relocate and expand their operations in distressed rural communities.
  • RDP investments help create jobs, economic growth, training opportunities, and food security for Rural America by partnering with organizations that take action to invest in and support their local communities.

New NAHREP Report Finds Homeownership Growth Continues Eight-Year Trajectory

Retrieved on: 
Tuesday, March 14, 2023
White, New Markets Tax Credit Program, Conference, HUD, Family, Housing, SAN, National Association, United States Secretary of Housing and Urban Development, Real estate, Bottled water

SAN DIEGO, March 14, 2023 /PRNewswire-PRWeb/ -- The National Association of Hispanic Real Estate Professionals® released the 2022 State of Hispanic Homeownership Report today which examines the progress made in the last year toward the organization's mission of increasing sustainable Hispanic homeownership. The release of the report coincides with the start of the second part of NAHREP's Homeownership & Wealth Building Conference which resumes today and runs until Wednesday, March 15.

Key Points: 
  • Latinos will remain critical drivers to U.S. homeownership growth, given their youthfulness, labor force participation, and growing population rate.
  • This year's report features photographs of real people and families in Houston, Texas who bought a home in the last year.
  • "Latinos continue on an 8-year homeownership growth trajectory despite home price appreciation and soaring interest rates once again demonstrating a resilience that will help fuel economic growth and prosperity for an increasing number of American households," said Gary Acosta, NAHREP Co-Founder & CEO.
  • The Hispanic homeownership rate reached 48.6 percent in 2022, marking 8 years of steady homeownership growth.

Rural Development Partners Helps Wilmington Food Bank Expand

Retrieved on: 
Thursday, March 9, 2023
Anbaric Development Partners, New Markets Tax Credit Program, Community development financial institution, Health education, Social media, Cape Fear, Workforce, FOREST, NMTC, SF, Food bank, Multimedia, Office of the Supervising Architect for the U.S. Treasury, Food, Organization, Capital Area Food Bank, Hunger, Metro, RDP, Grocery store

FOREST CITY, Iowa, March 9, 2023 /PRNewswire/ -- Rural Development Partners allocated $12.5 million in New Markets Tax Credits to close the funding gap for Food Bank of Central and Eastern North Carolina to expand their Wilmington Branch .

Key Points: 
  • FOREST CITY, Iowa, March 9, 2023 /PRNewswire/ -- Rural Development Partners allocated $12.5 million in New Markets Tax Credits to close the funding gap for Food Bank of Central and Eastern North Carolina to expand their Wilmington Branch .
  • "Rural Development Partners is proud to play a small part in helping fight food insecurity, and we know that the Wilmington Food Bank will now be better equipped to meet the needs of those in both the non-metro and metro counties that they serve."
  • "We know we can't solve hunger in the Cape Fear region alone and we're so thankful for partnerships like this one with Rural Development Partners," said Ashley C. McCumber, President & CEO of the Food Bank.
  • Rural Development Partners (RDP) utilizes the New Markets Tax Credit (NMTC) program to help organizations relocate, renovate, or expand their operations in distressed rural communities.

New Markets Venture Partners Raises Over $160 Million for Oversubscribed Economic Mobility Fund

Retrieved on: 
Monday, February 27, 2023
Bill, DC, Workforce, Life, Record, Entrepreneurship, Investment, Pool float, Education, Growth, Capitalism, Fund, SRI, StraighterLine, LP, University, Movement, General partnership, Bill & Melinda Gates Foundation, Student, Social, Renewable energy, Video game, Management, Pharmaceutical industry, New Markets Tax Credit Program

WASHINGTON, Feb. 27, 2023 /PRNewswire/ -- New Markets Venture Partners, the nation's premier edtech and workforce technology venture capital firm today announced that it successfully raised more than $160M for its new fund, New Markets Education Partners III, LP. Founded in 2002, this is the DC-based firm's fifth fund and is specifically designed to advance New Markets' strategy of investing in early- and growth-stage companies with demonstrated efficacy in improving student and workforce outcomes.

Key Points: 
  • WASHINGTON, Feb. 27, 2023 /PRNewswire/ -- New Markets Venture Partners , the nation's premier edtech and workforce technology venture capital firm today announced that it successfully raised more than $160M for its new fund, New Markets Education Partners III, LP.
  • The firm's disciplined investing strategy has consistently generated outsized returns for limited partners with a very low loss rate, while focusing on evidence-based solutions that generate authentic, measurable impact.
  • These new limited partners include academic publishers, global skills development leaders, human resources experts, and large-impact investment funds, among others.
  • Robb Doub, Co-Founder and General Partner of New Markets Venture Partners adds, "We are honored to be trusted by a group of limited partners with deep knowledge of the education and workforce industry.

Service Providers Can Now Unlock a Massive New Market With SmartBiz, a Comprehensive Calix Revenue EDGE Solution, Delivering the Capabilities 30+ Million U.S. Small Businesses Need To Thrive

Retrieved on: 
Wednesday, February 15, 2023
Telecommunications, Software, Internet, Small Business, Professional Services, Technology, Carriers and Services, Mobile, Wireless, Cloud, History of science and technology, POS, Calix, Inc., Small business, Home, NYSE, News, Sale, Smart Start, BSP, Growth, New Markets Tax Credit Program, Mobile phone, Calix, Wi-Fi

SmartBiz is the first managed service from Calix that is purpose-built to unlock a scalable small business market expansion opportunity for BSPs of any size.

Key Points: 
  • SmartBiz is the first managed service from Calix that is purpose-built to unlock a scalable small business market expansion opportunity for BSPs of any size.
  • While small businesses account for nearly all businesses in the U.S., only half survive more than five years.
  • SmartBiz integrates everything BSPs need—from secure connectivity to business productivity applications—so they can catalyze small business growth in their communities while driving new revenue.
  • The SmartBiz managed service is integrated with the Calix platform, which includes Calix Intelligent Access EDGE ™, Calix Revenue EDGE ™, and Calix Cloud®.

United Bancorporation of Alabama announces semiannual dividend

Retrieved on: 
Wednesday, January 11, 2023
Economic development, FDIC, Community development financial institution, CDFI, Summerdale, UB, OTCQX, New Markets Tax Credit Program, Pace, Spanish Fort, United Bank, Community development, Housing, Holding company, Bank, United, Daphne

ATMORE, Ala., Jan. 11, 2023 /PRNewswire/ -- United Bancorporation of Alabama, Inc. (OTCQX: UBAB), parent company of United Bank, Town-Country United Bank and UB Community Development, has announced a semiannual dividend of $0.22 per share was declared on Dec. 13, 2022.

Key Points: 
  • ATMORE, Ala., Jan. 11, 2023 /PRNewswire/ -- United Bancorporation of Alabama, Inc. (OTCQX: UBAB), parent company of United Bank, Town-Country United Bank and UB Community Development, has announced a semiannual dividend of $0.22 per share was declared on Dec. 13, 2022.
  • United Bancorporation of Alabama, Inc. (OTCQX: UBAB) is a $1.2 billion financial holding company that primarily serves Southwest Alabama as well as Northwest Florida.
  • United is a Community Development Financial Institution (CDFI), which recognizes its commitment to stimulating economic development in underserved communities.
  • United operates three subsidiaries: United Bank, Town-Country United Bank and UB Community Development.

Capital Plus Financial closes $125 million Treasury bond

Retrieved on: 
Monday, December 19, 2022
Magnet, Healthy food, Small business, Community development financial institution, OTCQX, Partnership, Department of the Treasury, B Corporation (certification), CPF, Treasury, Crossroads, Healthy Food Financing Initiative, Federal Financing Bank, New Markets Tax Credit Program, O'Hara, U.S. Treasury, Community development, Visual literacy, Community Development Financial Institutions Fund, Native, History, Small Business Jobs Act of 2010, CDFI, ESG, CRSS, Security (finance), Bank, Insurance

DALLAS, Dec. 19, 2022 /PRNewswire/ -- Capital Plus Financial, a community development financial institution, certified B Corp and wholly owned subsidiary of Crossroads Impact Corp, closed a $125 million bond from the United States Treasury Department's CDFI Bond Guarantee Program – the largest bond allocation issued by the program in 2022.

Key Points: 
  • DALLAS, Dec. 19, 2022 /PRNewswire/ -- Capital Plus Financial, a community development financial institution, certified B Corp and wholly owned subsidiary of Crossroads Impact Corp, closed a $125 million bond from the United States Treasury Department's CDFI Bond Guarantee Program – the largest bond allocation issued by the program in 2022.
  • After the program's thorough due diligence, Capital Plus Financial was named a bond recipient of the highly selective and competitive program, which will allow CPF the ability to better serve its borrowers by providing long-term, fixed-rate cost of debt capital.
  • Capital Plus Financial is one of only five CDFIs nationwide selected.
  • The U.S. Treasury Department issues the bond for which the qualified issuer sells the bonds to the Federal Financing Bank.