RECENT NEWS CLIPPINGS
September 21, 2010
Old Capitol Green Almost Set To Go |
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Developers of the roughly $1 billion Old Capitol Green project say the first half of 2011 should see the most
pronounced burst of activity yet on the ambitious mixed-use development.
They say they aim to have various strands of financing, including new-market tax credits, Gulf Opportunity Zone
bonds and Federal Housing Administration funds, secured by the end of the year.
If that happens, construction of a structure to include a two-deck, 800-space parking garage with residential and
commercial space above it could start as early as next spring, said Carlton Brown, chief operating officer of Full
Spectrum South, Old Capitol Green's developer.
August 22, 2010
ST Paper Still Rolling Out Products, Jobs |
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The paper mill straddling the Oconto River at the foot of the hill is doing what it has done for more than 100 years: producing paper and jobs.
That it is doing so today is the result of new ownership, new investment, modern processes and a belief that small, rural tissue mills still can be successful.
August 2010
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Multimillion Dollar Renovation Revives State Capital |
When HRI Properties, local developer David Watkins and former NFL running back Deuce McAllister began renovating the historic King Edward, Standard Life and Hines Motor Company buildings in downtown Jackson, Miss., the area had been losing residents and businesses for decades. Visitors to the King Edward's upper fl oors in 2008 could gaze into the surrounding buildings through the gaping holes in their roofs. The Jackson Redevelopment Authority (JRA), which owned the three iconic buildings, believed that renovating the structures could bring businesses back into downtown. Now, as HRI completes the last phase of development, JRA can celebrate the smaller redevelopment projects that the project has spurred in the state capital.
January 9, 2010
Tax Credits Boost Haven Project |
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Haven for Hope is getting $6 million. "Without this, we weren't going to be able to finish some buildings," said Robert Marbut Jr., President of Haven for Hope, which provides an array of services for the homeless. "Basically we're doing a good thing in a low-income area and we get rewarded." The tax credits come from the National New Markets Fund LLC, an investment partnership that focuses on low-income communities across the country, including areas hit by Hurricane Katrina.
December 4, 2009
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Tax credit sale brings in $17 million for Cleveland Institute of Art expansion |
Lisa DeJong, Plain Dealer fileThe Cleveland Institute of Art's Joseph McCullough Center for the Visual Arts building on Euclid Avenue has been under renovation since summer, when this photo was taken. Ductwork will be exposed throughout the building, like this section in the new sculpture area.CLEVELAND, Ohio - The Cleveland Institute of Art has fully funded the first phase of its expansion, now that some key tax credits have been sold to support the project.
October 7, 2009
New Headquarters Offers Relief to Busy Mercy Corps Staff |
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Friday's opening launches a new era for 30-year-old Mercy Corps, an expanding relief-and-development agency that has cut a higher profile abroad than in its own hometown. The international nonprofit, packing $276 million in annual global revenues and 3,700 workers in 38 nations, aims for a grand statement in Portland
July 21, 2009
National New Markets Fund Closes Tax Credit Financing to Build 85-Plus Habitat for Humanity Homes in Mississippi |
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National New Markets Fund, LLC -- a New Markets Tax Credit (NMTC) fund created by Los Angeles-based Strategic Development Solutions (SDS) and Boston-based Economic Innovation International, Inc. -- has closed $10 million in NMTC allocation to help build more than 85 Habitat for Humanity homes in Mississippi. The project will provide low-income families in Jackson, Harrison and Hinds counties with safe, affordable, and energy efficient housing. The overwhelming majority of buyers will be first-time homeowners.
July 21, 2009
National New Markets Fund Closes Tax Credit Financing to Build 85-Plus Habitat for Humanity Homes in Mississippi |
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National New Markets Fund, LLC -- a New Markets Tax Credit (NMTC) fund created by Los Angeles-based Strategic Development Solutions (SDS) and Boston-based Economic Innovation International, Inc. -- has closed $10 million in NMTC allocation to help build more than 85 Habitat for Humanity homes in Mississippi. The project will provide low-income families in Jackson, Harrison and Hinds counties with safe, affordable, and energy efficient housing. The overwhelming majority of buyers will be first-time homeowners.
July 17, 2009
The South's First Double Bottom Line Private Equity Real Estate Fund Launched in Shreveport, Louisiana |
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Northwest Louisiana Community Development Fund I ("the Fund") -- the first double bottom line private equity real estate fund in the Southern US, and the first in the nation created to serve a small, regional market -- today announced that it will make its inaugural investment in Louisiana's first mixed-use, mixed-income "smart growth" development project in a low income neighborhood.
July 17, 2009
The South's First Double Bottom Line Private Equity Real Estate Fund Launched in Shreveport, Louisiana |
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Northwest Louisiana Community Development Fund I ("the Fund") -- the first double bottom line private equity real estate fund in the Southern US, and the first in the nation created to serve a small, regional market -- today announced that it will make its inaugural investment in Louisiana's first mixed-use, mixed-income "smart growth" development project in a low income neighborhood.
July 17, 2009
$40Mln Fund Seeks Development Projects in Northwest Louisiana |
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Two fund managers that specialize in investments in low-income areas have raised $40 million for a fund that will target commercial property developments in northwest Louisiana. Strategic Development Solutions of Los Angeles and Economic Innovation International of Boston have hired Kennedy Wilson of Beverly Hills, Calif., to manage the fund, Northwest Community Development Fund I.
July 9, 2009
S'port RiverScape Parkway Development Project to Begin Construction 2010 |
Several community leaders gathered under a tent under the blazing sun on Wednesday, July 8th to announce a major Shreveport development project. Along with Mayors Cedric Glover of Shreveport and "Lo" Walker of Bossier, area planners. non-profit organizers, and local and national investors unveiled the details for the RiverScape Parkway, LLC - a multi-phase, mixed-use development to be located along Clyde Fant Parkway and Stoner Avenue in Shreveport.
June 11, 2009
Healthcare:
U.S. Treasury Officials Tour Nation’s Best Tax
Credit Financed |
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Treasury Dept. Director Donna Gambrell Surveys New Orleans’ Second Line Stages Film Studio and Other Notable Redevelopment Projects Funded With Tax Credits From National New Markets Fund
June 4, 2009
Director Gambrell Tours Community Development Progress in New Orleans |
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WASHINGTON, DC - The U.S. Treasury Department's Community Development Financial Institutions (CDFI) Fund Director Donna J. Gambrell traveled to New Orleans, Louisiana this week on a two-day trip to highlight how the CDFI Program and New Markets Tax Credit (NMTC) Program have provided needed resources to support the revitalization and rebuilding efforts following Hurricane Katrina.
June, 2009
U.S. Treasury Officials Tour Nation's "Best Tax Credit Financed Project" |
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NEW ORLEANS, LA, Jun 08 (MARKET WIRE) -- Donna J. Gambrell, Director of the U.S. Treasury Department's Community Development Financial Institutions (CDFI) Fund, traveled to New Orleanslast week for a series of visits to community redevelopment projects thatexemplify best practices in the use of New Markets Tax Credit (NMTC)financing.
May 20, 2009
NNMF Earns Top Honors From Council of Development |
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National New Markets Fund Earns Top Honors From Council of Development Finance Agencies Fund's Investment in New Orleans' Second Line Stages "Green" Film Studio Wins Award for Best Tax Credit Financed Project in the Nation
May 7, 2009
Funding Completed for Redevelopment of Detroit's Historic Argonaut Building |
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Tax Credits From national New Markets Fund Help Close Financing for $145 Million Transformation of Former GM Design Headquarters Into Educational Complex.
May 7, 2009
NNMF: Second Line Stages Project Wins 2009 Practitioner's Showcase Award |
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PITTSBURGH, PA – National New Markets Fund LCC: Second Line Stages Project, New Orleans, LA was selected as the best Tax Credit Financed Project in the nation at the Council of Development Finance Agencies’ (CDFA) 2009 Annual Development Finance Summit in Pittsburgh, Pennsylvania. Three finalists presented at the Practitioner’s Showcase: Best Tax Credit Financed Project at the Annual Summit, and a live audience vote determined the best tax credit financed project in the country.
May, 2009
New Markets Credit Seeds Communities for Educational Prosperity |
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Like the gardener sowing a plot to yield future bounty, the federal new markets tax credit is seeding low-income communities by helping to fund educational facilities – including charter schools and public schools that prepare low-income neighborhood youths for a more promising future.
March, 2009
NOLA’s First Movie Studio Features Green Design, Historic Buildings |
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Each year, New Orleans provides the backdrop for numerous films, television programs and commercials. More than 80 films were shot in Louisiana last year. Although the city’s historic neighborhoods feature many picturesque locations, the city lacks quality production facilities. That will change in January 2010 when Second Line Stages opens in the Lower Garden district. Second Line, the first "green" film production facility in the country, will also be the first purpose-built sound stage in New Orleans.
January 20, 2009
Second Line Stages Aims To Be First LEED-Certified Studio In U.S. |
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Second Line Stages, a New Orleans studio currently under construction, is poised to become the first LEED certified studio in the U.S., CoStar Group reports.
January 20, 2009
'Green' Film Studio Under Construction in NO |
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A dilapidated New Orleans warehouse and surrounding property are being converted into what is being called the nation’s first "green" film studio.
January 15, 2009
Green Screens: Who Will Have the First LEED Certified Movie Studio? |
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Second Line Stages Breaks Ground in New Orleans, Aims for LEED Silver
January 15, 2009
First Green Film Studio in U.S. Financed With Tax Credits From NNMF |
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NEW ORLEANS, LA--(MARKET WIRE)--Jan 15, 2009 -- National New Markets Fund, LLC -- a New Markets Tax Credit (NMTC) fund created by Los Angeles-based Strategic Development Solutions (SDS) and Boston-based Economic Innovation International -- has closed $6 million in NMTC financing to help redevelop a dilapidated New Orleans warehouse and surrounding property into the nation's first green film studio.
December 18, 2008
New Non-Profit Hub on 19th St. |
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With the help of a $9 million development fund, a furniture store on the corner of Mission and 19th streets will transform into a hub for nonprofit organizations as early as next fall, according to Debbie La Franchi, cofounder of the National New Markets Fund.
December 16, 2008
NNMF Closes $9 Million Investment With U.S. Bank for Redevelopment in San Francisco's Mission District |
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Federal Tax Credit Financing Will Support $9.5 Million Plaza Adelante Project in Underserved and Economically Distressed Community
December 14, 2008
NMTC Fund Launching Warehouse Conversion |
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SAN FRANCISCO - A New Markets Tax Credit fund of Strategic Development Solutions will turn a Mission District warehouse into a nonprofit community service center.
November 4, 2008
CPN -Tax Credit Equity Fund Gets $50M for Low-Income Development
LOS ANGELES - Strategic Development Investments, LLC (SDI) - an independent investment adviser founded by equity fund specialist Deborah La Franchi - has earned the maximum 6-Star "Top Guns" rating from Informa Investment Solutions in its quarterly survey to identify the best investment products and management firms.
November 4, 2008
International Business Times - National New Markets Fund Awarded $50 Million Tax Credit Allocation to Invest in Low-Income Communities
LOS ANGELES - (Marketwire) -- 11/04/08 -- National New Markets Fund, LLC (NNMF) -- atax credit equity fund created by Los Angeles-based Strategic Development Solutions (SDS) and Boston-based Economic Innovation International -- hasbeen awarded a $50 million New Markets Tax Credit (NMTC) allocation by the U.S Treasury Department to finance real estate development in low-incomecommunities. With this latest award, SDS and Economic Innovation currently manage more than $125 million in New Markets Tax Credits through theirjointly managed National New Markets Fund (the "Fund").
November 4, 2008
MSNBC - National New
Markets Fund Awarded $50 Million Tax Credit Allocation to Invest in
Low-Income Communities
LOS ANGELES - National New Markets Fund, LLC (NNMF) -- a tax credit equity fund created by Los Angeles-based Strategic Development Solutions (SDS) and Boston-based Economic Innovation International -- has been awarded a $50 million New Markets Tax Credit (NMTC) allocation by the U.S Treasury Department to finance real estate development in lowincome communities. With this latest award, SDS and Economic Innovation currently manage more than $125 million in New Markets Tax Credits through their jointly managed National New Markets Fund (the "Fund").
RECENT NEWS RELEASES
January 11, 2010
National New Markets Fund Closes $15 Million in Tax Credit Financing for Landmark Homeless Transformation Campus in San Antonio |
San Antonio, Texas - National New Markets Fund, LLC - a New Markets Tax Credit (NMTC) fund created by Los Angeles-based Strategic Development Solutions (SDS) and Boston-based Economic Innovation International, Inc. - has closed $15 million in NMTC allocation to help complete development of the 37-acre Haven for Hope homeless transformation campus in San Antonio.
July 8, 2009
Large-Scale Telemedicine Comes to Ohio via Tax Credit Financing from National New Markets Fund and U.S. Bank |
Los Angeles and Cleveland, Ohio --National New Markets Fund, LLC --a New Markets Tax Credit (NMTC) fund created by Los Angeles-based Strategic Development Solutions (SDS) and Boston-based Economic Innovation International, Inc. --has closed an investment of $7 million in NMTC allocation with U.S. Bank to complete funding for the Next Generation Health Care telemedicine project in Northeast Ohio.
July 8, 2009
New Development Announced in Shreveport Along Riverfront |
SHREVEPORT - Community leaders, non-profit organizers, and local and national investors announce RiverScape Parkway, LLC today - a multi-phase, mixed-use development to be located along Clyde Fant Parkway and Stoner Avenue in Shreveport. The project is the first and most comprehensive mixed-use, mixed-income development of its type in Northwest Louisiana, and is recognized nationally as a pioneering joint venture between a leading for-profit developer and a faith-based community non-profit development company.
June 8, 2009
U.S. Treasury Officials Tour Nation’s "Best Tax Credit Financed Project"
NEW ORLEANS - Donna J. Gambrell, Director of the U.S. Treasury Department’s Community Development Financial Institutions (CDFI) Fund, traveled to New Orleans last week for a series of visits to community redevelopment projects that exemplify best practices in the use of New Markets Tax Credit (NMTC) financing.
May 7, 2009
Funding Completed for Redevelopment of Detroit’s Historic Argonaut Building
DETROIT and LOS ANGELES - Once a symbol of America’s dominance in the automotive industry, the now vacant 760,000 square foot Argonaut Building will soon be redeveloped into an arts-focused educational center with the help of $145 million in funding from a range of sources including U.S. Bank, Chase and Los Angeles-based National New Markets Fund, which invested federal New Markets Tax Credits (NMTCs).
January 15, 2009
Jobs Saved as National New Markets Fund and U.S. Bank Close Tax Credit Financing for Paper Mill in Rural Wisconsin |
Los Angeles and Oconto Falls, WI -- National New Markets Fund, LLC -- a New Markets Tax Credit (NMTC) fund created by Los Angeles-based Strategic Development Solutions (SDS) and Boston-based Economic Innovation International, Inc. -- has closed $15 million in NMTC allocation funding to help ST Paper, LLC in Oconto Falls restructure debt, remain in business and continue serving as the rural community's largest employer.
January 15, 2009
First Green Film Studio in U.S. Financed with Tax Credits from NNMF
LOS ANGELES - National New Markets Fund, LLC – a New Markets Tax Credit (NMTC) fund created by Los Angeles-based Strategic Development Solutions (SDS) and Boston-based Economic Innovation International – has closed $6 million in NMTC financing to help redevelop a dilapidated New Orleans warehouse and surrounding property into the nation’s first green film studio.
January 15, 2009
NNMF Earns Top Honors From Council of Development Finance Agencies
LOS ANGELES - National New Markets Fund, LLC -- a New Markets Tax Credit (NMTC) fund created by Los Angeles-based Strategic Development Solutions and Boston-based Economic Innovation International -- has earned top prize at the 4th Annual Council of Development Finance Agencies (CDFA) competition honoring the Best Tax Credit Financed Projects in the Nation.
December 16, 2008
NNMF Closes $9 Million Investment with U.S. Bank for Redevelopment
LOS ANGELES and SAN FRANCISCO - National New Markets Fund, LLC - a New Markets Tax Credit (NMTC) fund created by Los Angeles-based Strategic Development Solutions (SDS) and Boston-based Economic Innovation International -- has closed $9 million in NMTC financing to redevelop an underutilized warehouse in San Francisco's Mission District into a retail center with tenants that will provide much needed services to the community. Project financing includes an investment from U.S. Bancorp Community Development Corporation, as well as loans from U.S. Bank and the Northern California Community Loan Fund (NCCLF).
November 4, 2008
NNMF Awarded $50M Tax Credit Allocation
LOS ANGELES - National New Markets Fund, LLC (NNMF) - a tax credit equity fund created by Los Angeles-based Strategic Development Solutions (SDS) and Boston-based Economic Innovation International - has been awarded a $50 million New Markets Tax Credit (NMTC) allocation by the U.S Treasury Department to finance real estate development in low-income communities. With this latest award, SDS and Economic Innovation currently manage more than $125 million in New Markets Tax Credits through their jointly managed National New Markets Fund (the "Fund").
August 11, 2008
Hammond Square Mall - New Markets Tax Credits
LOS ANGELES - National New Markets Fund, LLC - a New Markets Tax Credit (NMTC) fund created by Los Angeles-based Strategic Development Solutions (SDS) -- has closed a $10 million investment to finance development of the Hammond Square Mall in Hammond, Louisiana.