In August of 2012 Oregon created a New Markets Tax Credit program and authorized $200 million in allocation authority.  This little-understood program has now been in existence for over a year and has built a track record of financial closings.  Interested to know how the NMTC Program can help your project succeed?  Please join Roeder & Company, LLC for a free seminar on how New Markets Tax Credits can be used as a financing tool for projects that are either located in low-income communities or serve low-income individuals.  Reynold Roeder and Sara Pietka of Roeder & Company, LLC will provide an overview of New Markets Tax Credits, including:

Federal NMTC Program

• History of the Federal NMTC Program
• Program eligibility and project types
• Key players in the process
• Overview of typical structures

Oregon State NMTC Program

• History of the Oregon State NMTC Program
• Program eligibility and project types
• Key players in the process
• Case Studies: Typical structures, financial benefits, common pitfalls, compliance requirements, exits

Attendance is free, but please register by contacting Sara Pietka (503-641-5457 or [email protected]) for one of the below sessions.  You can also register online at http://www.rroeder.com/learn-more.html.  All seminars will last from 9:00 AM to 11:00 AM, and will include a complimentary continental breakfast.  The seminars will be held at our offices at 13635 NW Cornell Road, Suite 200, Portland, OR 97229.  Space is limited.

• Tuesday, December 17, 2013
• Thursday, January 9, 2014
• Tuesday, January 28, 2014
• Thursday, February 13, 2014
• Tuesday, February 25, 2014

The New Markets Tax Credit (NMTC) Program was established by U.S. Congress in 2000 to increase investment in the nation’s low-income communities.  Transactions can be used to attract additional affordable capital to projects that are perceived as high-risk or lacking sufficient capital.  NMTCs are an established tool for economic development wherein developers can enjoy subsidized rates on debt or receive additional tax credit equity and investors can fulfill Community Reinvestment Act (CRA) objectives.

NMTCs have proven effective in bridging financing gaps for projects in several sectors including non-profits to start-ups.  The NMTC Program is also extremely flexible.  Transactions can be structured to work with other government funding programs such as SNAP bonds, USDA loans, Private Activity Bonds, various grants, and more. 

For more information on the NMTC program, please visit our website at www.rroeder.com.

Roeder & Company, LLC and Enhanced Community Development are pleased to announce the closing of a $4 million Oregon New Markets Tax Credit financing for the expansion of ShelterCare’s current administrative headquarters into a hub of services for families, clients, volunteers, and staff.  The facility, located in Eugene, OR, will offer the benefits of having a variety of specialists co-located under one roof, spaces for group and private sessions, and the therapeutic benefits of providing treatment in a professional setting.  The renovation will include modular offices, conference rooms, small private spaces for confidential client meetings, and a large space for training and community meetings.  Additionally, the facility will include a warehouse for construction materials, supplies for housing units, and a maintenance shop to coordinate repairs to, and furnishings for, ShelterCare’s over 300 housing units.

 “[The facility] will bring enormous benefit to approximately 1,700 families and individuals served each year.  The opportunity to integrate services and expand outreach through a central hub for ShelterCare will benefit our community for many years to come,” said Susan Ban, Executive Director of ShelterCare.  ShelterCare is a nonprofit corporation based in Eugene, OR that offers a variety of housing support services for the homeless or those facing homelessness with a committed focus on homeless families and the community’s most vulnerable individuals dealing with psychiatric disabilities and acquired brain injuries.

ShelterCare originally purchased the existing building using Oregon’s Small Nonprofit Accelerated Program (SNAP) Bonds, a program through which the Oregon Finance Authority issues bonds that are then purchased by a participating bank.

“After closing transactions for ShelterCare, SAGE, and Ride Connection, we’ve proven that the Oregon State NMTC program can be utilized in deals as small as $4 million, and in a manner that accommodates other non-traditional financing sources such as SNAP bonds, federal and state grants, third-party lenders, and capital campaigns still in process,” said Reynold Roeder, CEO of Roeder & Company, LLC.  “These investments will all have a tremendous positive impact in the community and happened because the Oregon NMTC Program is such a flexible financing tool.”

The expansion of the service hub is expected to be completed in August of 2014.  For more information on ShelterCare, please visit www.sheltercare.org. 

Roeder & Company, LLC and Enhanced Community Development announce the closing of a $4 million Oregon New Markets Tax Credit financing for Ride Connection’s new Resource and Operations Center at Glisan Commons, a mixed-use development near the Gateway Transit Center in Northeast Portland.  The new facility will be 16,000 square feet and will house Ride Connection’s administrative offices, driver training and support programs, call center, scheduling and dispatch operations, and travel training services.

“The incorporation of Oregon NMTCs into the financing of our new Resource and Operations Center will help Ride Connection to strategically expand its program offerings, thereby serving, educating and training many more people than can be done from our current headquarters location,” said Elaine Wells, Executive Director of Ride Connection.  One of the main objectives of the Oregon NMTC program is to spark revitalization in Oregon’s low-income communities, and the Ride Connection Resource and Operations Center furthers that aim by creating new jobs in its highly distressed census tract and substantially improving community access to Ride Connection’s transit education programs.

“The benefits from this program will truly help change lives by providing the gift of mobility, independence, and dignity for many deserving people,” said Cynthia Thompson, Chief Development Officer of Ride Connection.

The Resource and Operations Center, including tenant improvements, is expected to be completed in June of 2014.  For more information on Ride Connection, please visit www.rideconnection.org.