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Central Bank of Kansas City
2301 Independence Blvd.Kansas City MO, 64124-2396
Central Bank of Kansas City (CBKC) is a CDFI specializing in business and real estate lending in low-income neighborhoods in Kansas City, Missouri. CBKC targets high-impact, primarily mixed-use redevelopment initiatives that provide combinations of businesses, community facilities, and housing that meets the needs of low-income communities. CBKC will partner with the City of Kansas City, and will use NMTCs to fill financing gaps by offering proceeds through a leveraged structure that permits blended interest rates up to 350 basis points below market, low origination fees, deferred principal payments and longer than typical amortization periods.
CDFI Awards for Central Bank of Kansas City
NMTC (2009) - $55,000,000
Central Bank of Kansas City (CBKC) will use its NMTC allocation to provide equity investments and loans to support businesses, community facilities and housing. It will target real estate and operating businesses in highly distressed, underserved urban core neighborhoods of Kansas City, KS and urban areas throughout the state of Missouri. The NMTC transactions will be structured to greatly reduce debt service in the critical first years of project stabilization. The savings from lower annual debt service will be passed on to borrowers, enabling business stability and the extension of new financing opportunities to a greater diversity of small businesses, non-profits, and residents than would be possible without the NMTC subsidy.
BEA (2008) - $675,000
Central Bank of Kansas City has been selected to receive an award of $675,000 through the FY 2008 round of the Bank Enterprise Award program for its support of EDC Loan Corporation and for its support of affordable home mortgages, home improvement loans, small business loans and commercial real estate investments. Central Bank of Kansas City is a certified CDFI and state-chartered bank with $144 million in assets.
NMTC (2007) - $50,000,000
Central Bank of Kansas City (CBKC) is a CDFI specializing in business and real estate lending in low-income neighborhoods in Kansas City, Missouri. CBKC targets high-impact, primarily mixed-use redevelopment initiatives that provide combinations of businesses, community facilities, and housing that meets the needs of low-income communities. CBKC will partner with the City of Kansas City, and will use NMTCs to fill financing gaps by offering proceeds through a leveraged structure that permits blended interest rates up to 350 basis points below market, low origination fees, deferred principal payments and longer than typical amortization periods.
BEA (2007) - $489,169
Central Bank of Kansas City has been selected to receive an award through the FY 2007 round of the Bank Enterprise Award Program for its support of affordable housing development, small business, and commercial real estate to underserved areas of Kansas. Central Bank of Kansas City is a certified CDFI and state chartered bank with over $144 million in assets.
BEA (2006) - $500,000
Central Bank of Kansas City has been selected to receive an award of $500,000 through the FY 2006 round of the Bank Enterprise Award Program for its support of affordable home mortgages, affordable housing development, small business loans, home improvement loans, commercial real estate loans, and CDFI support activities at the EDC Loan Corporation. Central Bank of Kansas City is a certified CDFI with $139 million in assets.
BEA (2003) - $1,077,223
Central Bank of Kansas City received an award of $1,077,223 for increasing its financing activities AND/OR service activities in economically distressed areas in Kansas City, MO. The awardee also provided $1,100,000 in financial support to the following certified Community Development Financial Institutions (CDFIs): EDC Loan Corporation and Missouri Family Credit Union.
BEA (2000) - $191,010
Central Bank of Kansas City, Missouri, a certified Community Development Financial Institution (CDFI), received an award of $191,010 for increasing its deposit-taking, financial services and community services and consumer, single-family housing, multi-family housing, commercial real estate and small business lending. The bank provided lending, investment and service activities totaling over $4 million in distressed communities within Kansas City.
BEA (1999) - $372,927
Central Bank of Kansas City, Missouri, a certified Community Development Financial Institution (CDFI), received an award of $372,927 for increasing its community services and consumer, single-family housing, multi-family housing, commercial real estate and small business lending. In total, the bank provided development and service activities totaling $1.3 million in distressed communities within Kansas City and for making below market deposits in other CDFIs. The bank made below-market rate deposits totaling $600,000 in Blackfeet National Bank, Bank of Cherokee County, Community Bank of the Bay, Community Capital Bank of Brooklyn, Shorebank of Cleveland, and Boston Bank of Commerce.
BEA (1998) - $585,555
Central Bank of Kansas City, a certified CDFI, was awarded $585,555 for increasing its deposits, financial services and consumer, single family housing, commercial real estate and business and agricultural lending. In total, the bank provided development and service activities totaling $3,915,587 in distressed neighborhoods of Kansas City and making below market deposits in other CDFIs. The bank made below market deposits totaling $300,000 in United Bank of Philadelphia, South Shore Bank of Chicago and Louisville Community Development Bank.
BEA (1997) - $83,808
Central Bank of Kansas City, based in Kansas City, Missouri, was awarded $83,808 for increasing its commercial real estate and business and agricultural loans within a distressed community. These loans were used to finance businesses including equipment for a brick and stone masonry firm, an auto body mainting firm, auto repair firm, restaurant, small grocery stores, a medical supply firm, a salvage firm, and improvements to a senior care center.
BEA (1996) - $99,869
Central Bank of Kansas City is using its award to finance revitalization efforts in its neighborhood, which includes the distressed community designated in its BEA application. These efforts are focused on home improvement and rehabilitation lending. The award is, in part, being used to finance the rehabilitation of a former drug house in the neighborhood. The bank"s $70,000 loan to a non-profit group at a concessionary interest rate accounts for 70 percent of the financing for this project. The bank expects to use the returns from this loan for other community development activities.
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Other Community Development Financial Institutions in Missouri
Central Bank of Kansas City
Kansas City
Choices Federal Credit Union
St. Louis
Great Rivers Community Capital
St. Louis
HFHI-SA NMTC I, LLC
St. Louis
MBS Urban Initiatives CDE, LLC
St Louis
Missouri Family Credit Union
Independence
St. Louis Development Corporation
St. Louis
Travois New Markets, LLC
Kansas City
USBCDE, LLC
St. Louis
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