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First-Ring Industrial Redevelopment Enterprise, Inc.
West Allis WICDFI Awards for First-Ring Industrial Redevelopment Enterprise, Inc.
NMTC (2009) - $70,000,000
First-Ring Industrial Redevelopment Enterprise (FIRE) is a collaborative entity designed to revitalize the Southeastern Wisconsin abandoned industrial corridor. FIRE will utilize NMTC-facilitated capital to invest in office, mixed-use, community facility, retail and industrial developments designed to rehabilitate abandoned, contaminated, and blighted industrial sites and promote sustainable development. FIRE utilizes NMTC-leveraged structures providing NMTC proceeds at below-market rates with no origination fees, seven-year interest only periods, and higher loan-to-value and lower debt coverage ratios than the conventional market.
NMTC (2007) - $35,000,000
First-ring Industrial Redevelopment Enterprise (FIRE) is a community development entity designed to be the catalyst for the revitalization of southeastern Wisconsin’s industrial corridor through compact quality urban development. FIRE will use its NMTC allocation to invest in mixed-use, commercial, and industrial development projects that create jobs, increase the tax base, and bring new life to the urban cores of Southeastern Wisconsin. FIRE will offer below market interest rates, and subordinated debt with flexible features that include but are not limited to: extended amortization and interest only periods; higher than standard loan to value ratios, lower than standard debt coverage ratios and a convertible debt feature.
Other Community Development Financial Institutions in Wisconsin
Community Assets for People
Stevens Point
Dane Fund, Inc., The
Madison
First American Capital Corporation
West Allis
Lac du Flambeau Chippewa Housing Authority
Lac du Flambeau
Legacy Bancorp, Inc.
Milwaukee
Legacy Bank
Milwaukee
Legacy Redevelopment Corporation
Milwaukee
M&I New Markets Fund, LLC
Milwaukee
NiiJii Small Business Loan Fund, Inc.
Lac du Flambeau
SCI-TECH DEVELOPMENT
Milwaukee
Waveland Community Development, LLC
Milwaukee
Ways to Work
Milwaukee
Wigamig Owners Loan Fund
Lac du Flambeau
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