Community development

New Markets Tax Credit Program Includes $1.5 Billion Awarded Under the Recovery Act

October 30, 2009 -- CHICAGO-- As part of the Obama Administration's efforts to revive local economies, Treasury Secretary Tim Geithner today visited a job training center in Chicago benefiting from private sector investments made through the New Markets Tax Credit (NMTC) program. As part of his visit, Geithner announced $5 billion in NMTC awards, including $1.5 billion made possible through the American Recovery and Reinvestment Act (Recovery Act), for more than 90 organizations in communities around the country.    » read more »

Credits will inject capital and credit into underserved Maryland communities

30-Oct-2009 -- WASHINGTON, D.C. – U.S. Senators Barbara A. Mikulski and Benjamin L. Cardin (both D-Md.), today announced six Maryland organizations have been awarded New Markets Tax Credits (NMTC)’s totaling $185 million as part of a $5 billion total investment in NMTCs across the nation. The NMTCs will help inject capital and credit into underserved populations and communities across America. Funding for NMTCs was included in the Economic Recovery Act.    » read more »

10/30/09 -- WASHINGTON – Today, U.S. Senator Herb Kohl announced that eight Wisconsin based financial institutions will receive New Market Tax Credits from the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund. These tax credits will provide financial backing for local businesses and organizations to support low-income community development in projects statewide.

Waveland Community Development, LLC - $100 million

First-Ring Industrial Redevelopment Enterprise, Inc. - $70 million

Wisconsin Community Development Legacy Fund, Inc. - $85 million J

ohnson Community Development Company. - $50 million

M&I New Markets Fund, LLC - $40 million

Wisconsin Business Growth Fund, Inc. - $35 million    » read more »

October 30, 2009 -- BOSTON – Senators John Kerry and Paul Kirk today announced that three Massachusetts organizations will receive a total of $230 million under the 2009 round of the New Markets Tax Credit (NMTC) Program. The funding is administered through the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund which aims to expand the capacity of financial institutions to provide capital, credit and financial services to underserved populations and communities in Massachusetts and throughout the nation.    » read more »

Upstate Regional Blueprint Fund Targets Small Business Investments and Development; Applications due June 15, 2009; Awards Announced August 17, 2009

May 6, 2009 -- New York Governor David A. Paterson today announced the availability of $120 million in Upstate Regional Blueprint Fund grants to finance business investment, infrastructure upgrades and downtown redevelopment that will advance New York’s economic vitality. The Fund will support projects that help provide a framework for future growth in regions with stymied development. The Blueprint Fund, which will be administered by Empire State Development (ESD), will help to attract businesses, improve commerce and revitalize local economies.    » read more »

WASHINGTON, June 3, 2008 – The World Bank Board of Directors today approved a US$15.7 million grant for the Republic of Haiti to provide basic infrastructure and social services for disadvantaged urban communities.

Public school in Labadee Village, Haiti.: Photo by Ali (CC)    » read more »

Investment plan will foster affordable housing development, spark economic growth

BOSTON -- May 29, 2008— Highlighting the positive impact access to affordable housing for all citizens has on the quality of life and well-being in communities across Massachusetts and on the strength of the economy, Massachusetts Governor Deval Patrick today signed into law a $1.275 billion bond authorization – the state’s largest investment ever in housing and community development projects throughout the Commonwealth.

Massachusetts Governor Patrick announces housing bill: Photo courtesy Massachusetts Governor's office    » read more »

Unveils New Funding For Buffalo Job Development; Governor Paterson Makes First Trip to Buffalo, Focuses on Upstate Economy

March 27, 2008 -- New York Governor David A. Paterson today made his first trip to Buffalo as Governor to reaffirm his commitment to Upstate New York. He announced that the State’s lead economic development agency Empire State Development (ESD) will establish its permanent Upstate headquarters in Buffalo. Governor Paterson also used his visit to announce that a $1.2 million capital grant has been awarded to Tops Markets LLC to move its headquarters to Amherst.    » read more »

HUD provides New Orleans $2.3 million more than 2007 to support housing and development programs

NEW ORLEANS, March 17, 2008 - U.S. Housing and Urban Development Secretary Alphonso Jackson today announced the City of New Orleans will receive more than $27 million to support community development and produce more affordable housing in the Big Easy. HUD's annual funding will also provide downpayment assistance to first-time homebuyers; assist individuals and families who might otherwise be living on the streets; and offer real housing solutions for individuals with HIV/AIDS.    » read more »