The CDFA Ohio Financing Roundtable is Back!
Join CDFA on September 14, 2022, in Columbus, Ohio for a one-day conference to share best practices within the development finance industry. Experts from across the state will discuss the latest and most innovative development finance tools, authorities, resources, and approaches, and how these can affect the Ohio economy going forward. If you have a stake in Ohio's economic development finance industry, you won't want to miss this event. Space is limited, register today!
President Biden Signs Historic Legislation Providing Expansive Clean Energy Tax Incentives
On August 16, 2022, President Biden signed the "Inflation Reduction Act of 2022" (the "Act"), which includes the largest single investment in clean energy in United States history. The Act extends and expands existing tax credits and adds several new energy tax credits to encourage the production of electricity using clean energy and reduce carbon emissions.
Rhino Health USA, Inc. Closes $58M New Markets Tax Credit Financing
Fort Worth-based Rhino Health USA, Inc. announced the closing of a $58 million New Markets Tax Credit transaction that will help fund the company's $200 million investment for its large-scale manufacturing expansion in North Texas. As the only domestic manufacturer of nitrile rubber gloves, Rhino will use the 400,000 square foot facility in Majestic Fort Worth South Business Park to produce 3 billion gloves per year. This will be Rhino's largest manufacturing facility to date.
Hunt Capital Partners Closes $163.5M Tax Credit Fund
Hunt Capital Partners (HCP) has announced the closing of a $163.5 million national low-income housing tax credit fund. Hunt Capital Partners Tax Credit Fund 48 includes a mix of family and senior housing developments, creating 1,571 affordable homes in 15 developments across 10 states with nonprofit, for-profit, and local housing authority development partners.
Regions Bank Arranges Vital Financing for New Housing in Brooklyn, NY
Regions Bank formally announced the closing of two transactions to support a transformational building initiative in Brooklyn, New York. The initiative is led by HELP USA, a national housing nonprofit dedicated to addressing the holistic needs of individuals and families experiencing homelessness.
Real Examples of How the NMTC is Transforming Communities and Commercial Real Estate
The New Markets Tax Credits were established to provide an incentive for investment in low-income communities. The program can support solutions to some of the toughest challenges these areas are facing. By tapping into the NMTC incentive program as an economic development tool to improve areas such as employment, food accessibility and education, communities provide residents with greater access and equity.
$13M in Tax Credits for Pennsylvania Farmers' Improving Water and Soil Quality
Secretary Russell Redding announced the availability of $13 million in tax credits to Pennsylvania farmers for measures to improve soil and water quality. Tax credits through Pennsylvania's innovative conservation financing program, Resource Enhancement and Protection (REAP), can be combined with other state funding to help grow a sustainable farm economy.
BRIDGE Housing, U.S. West Coast, Secures $250M Affordable Housing Commitment
BRIDGE, a leading nonprofit developer, owner and manager of affordable housing on the U.S. West Coast, estimates this commitment will leverage up to $1B in additional capital for affordable housing. BRIDGE will use the funding to acquire multifamily properties, portfolios and/or land, as well as for refinancing, capital improvements and acquisition of general partner interests.
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