The article at the following link contains several exciting updates on the Salvation Army Female Emergency Shelter (SAFES) capital improvements that were funded through an Oregon NMTC transaction that closed in June 2014, as well as some key insights into the specific needs of homeless women in Portland: http://news.streetroots.org/2015/01/06/more-shelter-storm-safes-prepares-expand-housing-opportunities-women.

Roeder & Company, LLC and Enhanced Community Development announce the closing of an $8 million Oregon New Markets Tax Credit (NMTC) financing for Pacific Recycling Inc.’s installation of an industrial shredder on a parcel of land adjacent to their existing scrap metal recycling facility in Eugene, Oregon.

Pacific Recycling, Inc. (PRI) was founded in 1985 by Rod Schultz, who launched PRI after growing up in the scrap industry.  The NMTC financing leveraged previous investments made in the shredder complex, generating funds that will be utilized to finish the installation of the supporting shredder infrastructure.  This large capital investment will enable PRI, as a small business, to become more competitive in the scrap metal recycling industry.  The NMTC net benefit will also be used to hire and train residents of the surrounding low-income community to operate the shredder and related equipment.

“The completion of our shredder project establishes PRI as a long-term player in the industry, and it would not have come to fruition without NMTC financing and the assistance we received from Roeder & Company,” said Rod Schultz, CEO of PRI.   

“The PRI transaction demonstrates the flexibility inherent in the NMTC program.  There were a multitude of leases, lenders, and regulators in this transaction and that created some hurdles.  However, as a team we were able to structure within each party’s constraints and successfully close the NMTC financing,” said Roeder & Company CEO Reynold Roeder.

The shredder is expected to commence operation in February 2015.  For more information about PRI, please visit www.pacificrecyclinginc.net.

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 welcomes the addition of Victor Merced to its Advisory Board.  Mr. Merced is the Executive Director of Hacienda Community Development Corporation.  “Victor has tremendous experience serving low-income communities and communities of color with his long list of achievements in affordable housing and community development.  His inclusion in our advisory board will further our efforts to reach out to non-profit organizations in Oregon,” said Reynold Roeder, CEO of Roeder & Company, LLC.  Victor will join Bob McGill, Gary Neal, Matt Burton, Rob Adams, and Bob McKean on Roeder & Company’s Advisory Board.

For further information, call 503-641-5457.