The Midtown Collaboration Center (MCC) – An additional Cleveland Foundation project positioned to bridge downtown Cleveland with University Circle – recently closed on construction financing. Cleveland Development Advisors (CDA) provided a $10 million New Markets Tax...
CDA 2023 Investor Report
CDA’s annual investor report is out. In it, we highlight last year’s investments and we are proud to announce that we hit a major milestone: more than half a billion dollars invested in projects that are creating catalytic growth and opportunity in #CLE.
Food producer wins $9.6 million USDA grant for project on Cleveland’s East Side
International Food Solutions bought a former Goodwill building in Cleveland’s Central neighborhood in November. The meal-production company plans use the building as a poultry-processing plant with more than 200 employees.
Cleveland-based groups win $80 million in federal New Markets Tax Credits to aid projects
Two Cleveland-based community development organizations collectively nabbed $80 million in federal tax credits last week to support investments in low-income neighborhoods. CDA was awarded $35 million in NMTC..
$80 Million In New Market Tax Credits Awarded To Cleveland
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.