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Imagine Downtown, Inc.
Atlanta GACDFI Awards for Imagine Downtown, Inc.
NMTC (2008) - $20,000,000
Imagine Downtown, Inc. is focused on revitalizing Atlanta"s central business district and eight other Priority Corridors identified by the city as needing redevelopment. Its business strategy is to leverage programs in place (e.g., tax allocation districts, tax abatement programs and bonding capacity) to attract needed capital to the most disadvantaged low-income communities where these investments would not otherwise occur. Imagine Downtown expects to invest primarily in commercial and retail real estate projects, including historical rehabilitations and adaptive reuse-oriented developments being led by community development corporations or community housing development organizations operating in low-income communities.
NMTC (2007) - $60,000,000
Imagine Downtown, Inc. will provide equity, equity equivalent and debt financing (including loans priced 400-500 basis points below market) to high-impact development projects, small businesses and community housing development organizations serving a four square mile area of downtown Atlanta (the "Imagine Downtown Area"). This portion of the city (and the neighborhoods immediately surrounding it) contains some of the most distressed communities in the metro Atlanta area. NMTCs will be used in conjunction with other Federal and local tax incentives to expedite the pace, quantity and quality of redevelopment in downtown Atlanta.
Other Community Development Financial Institutions in Georgia
Appalachian Community Enterprises
Cleveland
Atlanta Micro Fund
Atlanta
Imagine Downtown, Inc.
Atlanta
Unified Singers Federal Credit Union
Thomasville
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Community Development Credit Unions
A Community Development Credit Union, more commonly known as a CDCU, is a credit financial institution which owned and controlled by its members in an effort to sustain the ability of being able to provide a wide array of financial services.
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