To Members of the Tax Reform Conference Committee:
As leaders of four of the nation’s largest nonprofit financial institutions dedicated to improving economic opportunity in local communities, we write to urge your support for the preservation of the New Markets Tax Credit (NMTC) during upcoming negotiations on tax reform legislation.
Arlington, VA and New York, NY (November 1, 2017) — Capital Impact Partners and Annaly Capital Management, Inc. (NYSE: NLY) (“Annaly”) today jointly announced the launch of a new $25 million joint venture dedicated to supporting community development in underserved cities across the country. An innovative structure in the mortgage REIT sector, the collaboration provides direct financing for socially responsible projects in low-income communities while simultaneously enabling Capital Impact’s ability to further expand its work nationally.
Innovative, Two-Year Pilot Program Provides Critical Capital and Training for Next Generation of Developers
October 19, 2017 (Detroit) – Today, Capital Impact Partners—with support from JPMorgan Chase & Co.—announced a new $5 million program committed to help more minority real estate developers participate in Detroit’s continued economic recovery by providing them with critical training opportunities and access to capital. The program will help 15-20 new minority developers help their businesses grow.
Investors can earn a financial, as well as a social, return on their investments
Arlington, VA (October 11, 2017) — Capital Impact Partners, a non-profit corporation, certified by the U.S. Department of Treasury’s Community Development Financial Institutions Fund as a Community Development Financial Institution (CDFI), today announced the launch of an offering of up to $100 million of ‘AA’* rated fixed-income Capital Impact Investment Notes (Notes) that allows retail and institutional investors the opportunity to invest in the mission-driven organization’s nationwide efforts to create social impact for underserved communities. Available for as low as $1,000, individual and institutional investors can purchase the Notes through their brokerage accounts and earn a financial, as well as a social, return on their investments.
“How-to” Tool Aims to Help Charter School Operators Navigate the Facility Development Process from Concept to Financing
Arlington, VA (October 11, 2017) — The process for building or expanding a charter school can be complicated and daunting. Enter The Answer Key by Capital Impact Partners, a simple how-to guide with practical tools designed to help school operators successfully navigate the construction process.
Covering each phase of the facility development process – including concept, predevelopment, design and pre-construction, construction, and financing – the step-by-step publication is based on Capital Impact’s 20 years of supporting and financing successful charter schools across the country. A number of education practitioners with real-world construction experience also lent their expertise to the guide.
Arlington, VA (September 18, 2017)—Capital Impact Partners announced today that it provided $75 million in project financing during the second quarter of 2017. This represents the largest quarterly loan volume in the company’s history as it worked to support increased access to health care, education, affordable housing, and healthy food around the United States.
“In the first half of 2017 alone, our loan volume has nearly surpassed our totals from across all of last year,” said Ellis Carr, president and CEO of Capital Impact Partners. “That is a testament to our hard working team’s efforts to do everything we can to ensure that good projects that help create equity and opportunity get the financing they need. Moving into new markets like Kansas further demonstrated our resolve and creativity to reach new communities.”
First quarter lending in underserved communities totals $26 million
Arlington, VA (June 30, 2017)—Capital Impact Partners announced today that it provided $26 million in project financing during the first quarter of 2017, supporting increased access to health care, education, affordable housing, and healthy food around the U.S. Other first-quarter highlights include an “AA” issuer credit rating from S&P Global Inc., the launch of a key job-creation program, and the release of important new affordable housing research.
Michigan Good Food Fund Tops $10 Million Milestone in Statewide Good Food Investments
Projects span state and sectors featuring retail and processing projects
Detroit, MI (MAY 17, 2017) – Six food enterprises in Grand Rapids, Kalamazoo, Southeast Michigan, and the Upper Peninsula received financing from the Capital Impact managed Michigan Good Food Fund. This marks more than $10.5 million in investments since its launch two years ago.
The $30 million fund was created to finance projects that increase healthy food access and spur economic opportunity in underserved communities in Michigan. It is a collaborative effort of Capital Impact Partners, Fair Food Network, Michigan State University Center for Regional Food Systems, and the W.K. Kellogg Foundation.
Project Equity and the Food Co-op Initiative Share $50,000 Prize
Arlington, VA (May 3, 2017) – Capital Impact Partners announced today that it has awarded grants totaling $50,000 to Project Equity and the Food Co-op Initiative, co-winners of its third annual Co-op Innovation Award. The award is given to recognize those organizations that demonstrate leadership in bringing the cooperative model to scale and in creating social impact for low-income communities.
Detroit Case Study Illustrates Challenges & Opportunities in Strengthening Markets
Arlington, VA/Detroit, MI (March 20, 2017)—As new development takes hold in once-distressed urban areas, it is important to address the risks of resident relocation and displacement that disproportionately impact low-income residents. With a focus on multifamily development in Detroit, a report from Capital Impact Partners identifies a number of practices that developers, investors, city officials, Community Development Financial Institutions (CDFIs), and public interest groups can use to plan for and responsibly manage development processes that may lead to resident displacement and relocation.
