Capital Impact Announces Low Cost Community Health Center Financing in California

Capital Impact Partners is pleased to announce a Request for Applications to the California Community Health Center Financing Program.  This low-cost financing program has been created to specifically support community health centers throughout California by The California Endowment (TCE), Community Health Center Capital Fund and Capital Impact Partners. Flexible loans at 4% interest rate are available to finance facility projects and/or equipment purchase.

Community health centers that are nonprofit, tax-exempt clinics licensed as community or free clinics, as defined under Section 1204 of the California Health and Safety Code are eligible. They may be Federally Qualified Health Centers (FQHCs) or FQHC Look-Alikes, as well as school-based health centers or mental health centers operated by FQHCs or FQHC Look-Alikes.

Treasury Department Awards $43 million in New Markets Tax Credits to Capital Impact Partners

WASHINGTON (June 5, 2014) —The U.S. Department of Treasury’s CDFI Fund has awarded Capital Impact Partners $43 million in New Markets Tax Credit (NMTC) allocation. Capital Impact Partners is one of 87 organizations to receive a combined $3.5 billion in NMTC, which are designated for community development organizations to help save and create jobs and spur economic development in distressed communities.

JPMorgan Chase & Co. Announces $100 Million Commitment to Support Detroit’s Economic Recovery

Long-term investment will focus on Detroit’s community development, blight mitigation, job skills training, small business promotion and other economic growth initiatives

May 21, 2014 (Detroit) – JPMorgan Chase & Co. unveiled today a $100 million, five-year commitment to support and accelerate Detroit’s economic recovery and strengthen its communities. This long-term investment is the Firm’s largest commitment to a city and among the largest corporate commitments to Detroit. It builds upon the Firm’s deep roots as one of Michigan’s leading financial services providers and corporate citizens.

To read the full release click here.

New Development in Midtown Detroit Further Highlights the City’s Revitalization

Previously Vacant Historic Building Will House 25 Rental Apartments

ARLINGTON, VA (March 4, 2014) – As yet another symbol of the revitalization of Detroit’s urban center, Midtown Detroit will soon be home to an additional 25 rental apartments, thanks to an important collaboration between the State of Michigan, two community development finance institutions (CDFIs) and a community organization. The 609 E. Kirby Project, made possible by the Living Cities Catalyst Fund, will renovate a currently vacant historic building that served as the first Hebrew School in the City of Detroit. Originally constructed in 1922, the building sits in the immediate vicinity of the Detroit Institute of Arts.

The two CDFIs—Capital Impact Partners and Invest Detroit—partnered with the Michigan Economic Development Corporation and the University Cultural Center Association, a subsidiary of Midtown Detroit, Inc., to provide more than $4.25 Million in financing for the transaction.

Nearly 175,000 People Impacted by Capital Impact Partners with Six Deals in December that Expanded Access to Quality Services to Build Healthier Communities

Nearly 175,000 People Impacted by CDFI

Capital Impact Partners Closes Six Deals Expanding Access to
Quality Services to Build Healthier Communities

Arlington, VA (January 03, 2014) – One of the largest Community Development Financial Institutions (CDFI) in the country, Capital Impact Partners (formerly NCB Capital Impact), announced today that their financing work in December 2013 directly impacted nearly 175,000 people as well as provided important economic benefits to the communities in which these loans were made. Capital Impact Partners financed projects nationwide this year to help create access to better health care and education, healthy foods and alternative care options for older adults. In December alone, Capital Impact Partners closed the following deals:

Detroit: Coming Back from Bankruptcy

It takes cross-sector collaboration and deep civic commitment to change the trajectory of a city with the social, political, and fiscal complexity of Detroit. This SOCAP 13 panel examines efforts to turn Detroit around through big ideas and bigger actions. Watch Scott Sporte, Chief Lending Officer and others show how place-based innovation and multigenerational, multidisciplinary efforts can begin to transform a city. Click here to see the video

NCB Capital Impact Receives Coveted $2 Million Social Innovation Fund Award for its Cornerstone Partnership Initiative

Two Year Award Enables Continuation of the Successful Cornerstone Homeownership Innovation Program

WASHINGTON, D.C. (September 25, 2013) — An innovative effort that builds capacity of local programs that affordable and sustainable homeownership a reality for millions of Americans received a vote of confidence with a two-year, $2 million continuation award from the Corporation for Community and National Service’s Social Innovation Fund (SIF).

The SIF award provides two additional years of funding for NCB Capital Impact’s (Capital Impact) Cornerstone Homeownership Innovation Program (CHIP), which provides grants to homeownership programs across the country that preserve long–term affordability and community stability. CHIP is administered by Capital Impact’s Cornerstone Partnership Initiative, a peer network supporting programs that help more hard–working people buy homes today, maintain those homes and keep them affordable in the future. By adopting common principles, sharing best practices, and providing tools and resources, the partnership aims to help governments and nonprofits stretch their dollars further to help more people realize the dream of homeownership.

Capital Impact Partners and The Kresge Foundation Launch Innovative Woodward Corridor Investment Fund

$30.25 Million Fund to Provide Critically Needed Real Estate Financing in Detroit

ARLINGTON, VA (September 17, 2013) —Capital Impact Partners and The Kresge Foundation today announced the launch of the Woodward Corridor Investment Fund, developed to invest in transformative real estate projects that advance the physical redevelopment of Detroit’s Woodward Corridor. With the support of MetLife, Inc., PNC Bank, Prudential, Calvert Foundation, Living Cities, and the Max M. & Marjorie S. Fisher Foundation, the Fund will provide capital to projects that are mixed-use, mixed income, transit-oriented and promote density, diversity, vibrancy, and walkability in Detroit’s core.

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