CDA, the real estate affiliate of GCP, has been awarded $35 million in NMTC. The Northeast Ohio Development Fund, LLC, was awarded an additional $45 million, bringing $80 million of NMTC to fund transformative projects in Greater Cleveland.
Treasury Announces $5 Billion in New Markets Tax Credit Awards to Revitalize Low-Income and Distressed Communities
Treasurer of the United States Chief Lynn Malerba, joined by CDFI Fund Director Jodie Harris, and others today announced more than $5 billion in (NMTC) awards nationwide.
Personal View: Make the New Markets Tax Credit program permanent
Over the past two decades, Greater Cleveland has benefited from millions of dollars of allocations from a well-regarded 20-year-old federal program — the New Markets Tax Credit (NMTC) program.
MAGNET’S new home in a renovated Hough elementary school in Cleveland aims to create opportunity, reverse industrial decline: Analysis
t’s hard to think of a new urban project anywhere in Northeast Ohio that focuses more sharply on fighting industrial decline and economic inequality than the new home of MAGNET, the Manufacturing Advocacy and Growth Network.
Cleveland Development Advisors Supports Renovation and Expansion of May Dugan Center through $2.5 Million Bridge Loan and $5 Million New Markets Tax Credits Allocation
Cleveland Development Advisors (CDA), an affiliate of GCP, will provided a $2.5 million bridge loan and a $5 million allocation of New Markets Tax Credits (NMTCs) to support the renovation of the nonprofit May Dugan Center in Cleveland’s Ohio City neighborhood. For...
Midtown-based Central Kitchen to expand retail offerings, flavor profiles
New businesses will open this fall at Central Kitchen (CK), a commercial kitchen and food business incubator in Cleveland’s Midtown neighborhood. CK offers a range of services to food businesses under two divisions: its nonprofit incubator at 2800 Euclid Ave.
Cleveland Development Advisors Allocates $5 Million in New Markets Tax Credits to MAGNET Headquarters Project in Cleveland’s Midtown Neighborhood
Cleveland Development Advisors (CDA), an affiliate of the Greater Cleveland Partnership (GCP), has provided a $5 million allocation of New Markets Tax Credits (NMTCs) to support the Manufacturing Advocacy & Growth Network, Inc. (MAGNET) as it develops its new...
Cleveland Development Advisors finalizes projects using $20 million in federal tax credits
March 1, 2022 Cleveland Development Advisors, announced that nearly $20 million of an available $50 million in federal New Markets Tax Credits have been finalized for use to help fund two local projects.
Cleveland Development Advisor’s 2022 Investor Report
See how CDA continued to promote inclusive and thriving neighborhoods in Northeast Ohio in 2021 by providing innovative financing solutions and technical assistance to catalytic real estate and business development projects.
Greater Ohio Policy Center provides second annual update on Opportunity CLE Neighborhoods initiative
GOPC's report provides JPMorgan Chase, the field and the broader public with a greater understanding of CDA and Finance Fund Capital Corporation's (FCAP) Opportunity CLE Neighborhoods initiative.