2507, 2013

National Community Fund I, LLC receives $50 Million in New Markets Tax Credit Allocation

PORTLAND, OR, April 24, 2013 – National Community Fund I, LLC (NCF) was awarded its sixth consecutive New Markets Tax Credit (NMTC) allocation from the Community Development Financial Institutions (CDFI) Fund of the U.S. Department of Treasury. This year NCF was awarded $50 million in NMTC allocation authority.

NCF is a community development entity (CDE) formed […]

2507, 2013

Loew’s Kings Theatre To Be Restored to Original Splendor

January 23, 2013 – The City of New York is putting $94 million into restoring the historic Loew’s Kings Theatre in Brooklyn, which closed in 1977. UFA structured the financing for the project and has provided $10 million in New Markets Tax Credit allocation.

Mayor Michael Bloomberg and Brooklyn Borough President Marty Markowitz broke ground on […]

2507, 2013

White Stag Building Among Those Reviving Portland’s Old Town

The popularity of Portland’s Old Town/Chinatown neighborhood has been on the rise for a few years now. It started with the sale of several buildings by Bill Naito Corporation to developers who committed to much-needed renovations for the properties.

The White Stag Block’s three buildings are among those recently revitalized in Old Town, for which UFA […]

2207, 2013

Blanchet House Catalyzes Old Town Revival

Blanchet House has been serving the homeless and working poor in Portland for more than 60 years. Located in Old Town, which attracts people in need of social services and is thus historically overlooked by investors, Blanchet House chose build its new facility a mere block from its original location in order to stay where […]

1704, 2013

Oregon Leverages New Markets Tax Credits

New Markets Tax Credits are sprucing up Old Town, putting new buildings in depressed areas and freshening up historic landmarks like the White Stag block. They’re also supporting long-established social service programs, new renewable energy projects, rural communities and businesses in low-income areas of Oregon.

But New Markets Tax Credits have their detractors.

Abuse of the credits, […]