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HEDC New Markets, Inc
New York NYCDFI Awards for HEDC New Markets, Inc
NMTC (2009) - $110,000,000
HEDC New Markets, Inc. (HEDC) will use it NMTC allocation to offer flexible and non-traditional debt and equity products to community based organizations serving the needs of low-income persons and communities, small businesses located and operating in low-income communities, and to developers creating leasable space for local businesses in low-income communities. HEDC’s products will include equity-like features, longer than conventional maturities and lower than conventional rates, thus enabling conventional financial institutions to increase their lending and investing in low income areas. HEDC will target its activities to areas in higher distress to enable the more difficult projects to be viable.
NMTC (2008) - $90,000,000
HEDC New Markets, Inc. (HEDC) will use it NMTC allocation to offer flexible and non-traditional debt and equity products to community based organizations serving the needs of low-income persons and low-income communities; small businesses located and operating in low-income communities; and to developers creating leasable space for local businesses in low-income communities. HEDC"s products will include equity-like features, longer than conventional maturities and lower than conventional rates, thus enabling conventional financial institutions to increase their lending and investing in low income areas. HEDC will target its activities to areas with higher distress to enable the more difficult projects to be viable.
NMTC (2006) - $121,000,000
HEDC New Markets will use new markets tax credits to increase investment in low income communities and to build community wealth; with a focus on projects that create jobs for low income individuals, build community facilities, or provide products and services to low income communities. HEDC will finance both real estate and non-real estate QALICBs in urban and rural communities through its national network. It will offer QLICIs that have equity-like features, longer than conventional maturities and lower than conventional rates; which will enable conventional financial institutions to increase their lending and investing in low income areas.
NMTC (2003) - $135,000,000
Through this NMTC allocation, HEDC New Markets intends to make loans and investments to both real estate and non-real estate qualifying businesses. An estimated 70 percent will be real estate related. Loan and investment terms will be flexible, non-traditional, at below-market rates of interest and on terms not available elsewhere. The NMTC allocation will also allow HEDC to significantly increase the volume of its activities in underserved communities.
NMTC (2002) - $30,000,000
The Alloactee intends to utilize its NMTC allocation to offer loans and investments in support of businesses, real estate projects and other CDEs. The Allocatee believes the NMTC Program will allow it to offer financial products that will give borrowers access to credit at below-market rates that is otherwise not available, allowing the community to gain new investments, create jobs, and enhance tax rolls.
Other Community Development Financial Institutions in New York
AAFE Community Development Fund
New York
ACCION New York
New York
Adirondack Economic Development Corporation
Saranac Lake
Akwesasne Indian Housing Authority
Hogansburg
BOC Capital Corp.
Brooklyn
Carver Federal Savings Bank
New York
CDCLI Funding Corporation, Inc.
Centereach
Citibank NMTC Corporation
New York
Commercial and Industrial Capital Corporation
Staten Island
Credit, Inc.
Bronx
GS New Markets Fund
New York
HEDC New Markets, Inc
New York
Home Headquarters, Inc.
Syracuse
Iroquois Venture Corporation
Hogansburg
JobStart Chautauqua, Inc.
Mayville
MSD New Markets, Inc
New York
Nos Quedamos
Bronx
NYCB Community Development Corp
Westbury
Progressive Neighborhood FCU
Rochester
Project Enterprise
New York
Seedco
New York
Seedco Financial Services
New York
Seneca Nation of indians
Salamanca
Sephardic Angel Fund
Brooklyn
St. Charles Borromeo Church FCU
New York
The Disability Fund, Inc.
Albertson
UA, LLC
New York
Westchester Housing Fund, Inc.
Hawthorne
Women"s Venture Fund, Inc.
New York
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