61 Pageviews Read Stories
Causes: Community & Neighborhood Development, Economic Development
Programs: Under the company's allocation agreement with the cdfi fund, the company has established cdes which are approved "subsidiary allocatees" of the company. The company is the managing member of each of the subsidiary allocatees. An allocation agreement places restrictions on the cde's operations, including, but not limited to, a specific geographical area of the low-income communities the cde must serve. The company has been approved to serve low-income communities in the states of arizona and nevada. The company was granted allocations of $28,000,000 and $55,000,000 of nmtc authority in the eleventh and thirteenth rounds, respectively, of nmtc awards from the cdfi fund. As of june 30, 2017 and 2016, the company had utilized $30,153,614 and $21,153,614, respectively, of its nmtc allocations.