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Key Community Development New Markets, LLC
Cleveland OHCDFI Awards for Key Community Development New Markets, LLC
NMTC (2009) - $50,000,000
Key Community Development New Markets LLC (KDCNM) will provide loans and equity to projects that promote community welfare and economic development. KDCNM will finance the construction, rehabilitation, and/or operation of office, industrial, mixed-use and community services properties, as well as small businesses. The NTMC allocation will allow KDCNM to provide financing to QALICBs that can demonstrate a strong community impact including, but not limited to, job creation or retention and neighborhood revitalization. KDCNM will use the economic value of the NMTC to offer interest rates up to 3.5 percent below its current market rate offerings, allowing QALICBs to attain required debt service or loan-to-value coverage.
NMTC (2008) - $30,000,000
Key Community Development New Markets, LLC (KCDNM) will provide loans and equity in KeyBank"s thirteen-state retail footprint to projects that promote community welfare and economic development. KCDNM will finance the construction, rehabilitation, and/or operation of office, industrial, mixed-use and community services properties, as well as small businesses. The NMTC allocation will enable KCDNM to offer subsidized financing for small business loans, and commercial real estate debt and equity for retail centers, for-sale single family housing, neighborhood, industrial, small offices, community facilities, and mixed use buildings which are catalytic to the redevelopment of low-income areas.
NMTC (2007) - $100,000,000
Key Community Development New Markets (KCDNM) will use its allocation to promote community and economic development, primarily in Key Bank’s 13 state retail footprint. KCDNM intends to offer subsidized financing for small business loans; and commercial real estate debt and equity for retail centers, single-family housing, industrial developments, small offices, community facilities and mixed-use buildings which are catalytic to the redevelopment of low-income areas. With its NMTC allocation, KCDNM will be able to offer interest rates up to 400 basis points below-market, and also offer more flexible credit terms including higher than normal loan to value ratios, lower origination fees, longer amortization periods and lower debt service coverage ratios.
NMTC (2002) - $150,000,000
The profile for this award is not currently available.
Other Community Development Financial Institutions in Ohio
ACEnet Ventures
Athens
AHC Community Development, LLC
Cleveland
Appalachian Development Federal Credit Union
Nelsonville
ASB Community Development Corp
Portsmouth
Cincinnati Development Fund
Cincinnati
Cincinnati New Markets Fund, LLC
Cincinnati
Columbus Compact Corporation
Columbus
Columbus Growth Fund, Inc., The
Columbus
Enterprise Development Corporation
The Plains
National City New Market Fund, Inc.
Cleveland
Neighborhood Capital Corporation
Cleveland
Shorebank Enterprise Group
Cleveland
ShoreBridge Capital
Cleveland
Uptown Consortium, Inc.
Cincinnati
Village Capital Corporation
Cleveland
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