CCUC Interviews: Terry Ratigan, NFCDCUTerry Ratigan, senior development consultant with the National Federation of Community Development Credit Unions, talks with Credit Union Magazine at CUNA's Community Credit Union & Growth Conference in Las Vegas. Ratigan was at the conference to present the findings of his recent white paper "CDFI Certification: A Building Block for Credit Union Growth."
Community Ventures: Your Dream. Our Mission.Community Ventures helps people own homes and start businesses because we believe in people’s dreams. From affordable financing to education, to neighborhood revitalization, our areas of focus offer the opportunity to dramatically improve the quality of life for people across Kentucky.
NCALL Housing DevelopmentTo read about other success stories from 2013, view NCALL's annual report:
http://ncall.org/docs/annual-report/2013_Annual_Report.pdf
For more information about NCALL's Housing Development services:
http://ncall.org/housing_development.htm
For more information about MHDC (Milford Housing Development Corp.): http://milfordhousing.com/
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Credit info: Composer - Jake LaVallee, Owner of http://uncopyrightedmusic.net
NCALL Loan FundNCALL's Loan Fund 2013 Success Story.
To read about other success stories from 2013, view NCALL's annual report:
http://ncall.org/docs/annual-report/2013_Annual_Report.pdf
For more information about NCALL's Loan Fund:
http://http://ncall.org/loan_fund.htm
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Woodstock Institute 40th Anniversary VideoCreated in honor of Woodstock Institute's 40th anniversary, this video highlights three key moments in Woodstock's history: its founding in 1973, successful bank Community Reinvestment Act negotiations in the 80s and 90s, and the passage of payday loan reform in Illinois in the 2000s.
Community Development Trust Actively Raising Capital to Finance Affordable HousingJohn Divers, COO and CFO of the Community Development Trust (CDT), joined REIT.com for a video interview during REITWise 2014: NAREIT's Law, Accounting and Finance Conference held in Boca Raton, Fla.
Founded in 1998, New York City-based CDT is a private, hybrid REIT that is active on the debt and equity side of affordable housing projects.
Divers was asked about CDT's capital-raising activities, which were particularly strong last year, and the outlook for future transactions.
Divers noted that as a private REIT, capital raising has been important to CDT since its inception. CDT has carried out a variety of capital raises in the $40 to $50 million range. It has held multiple common stock raises and also a convertible preferred stock raise, he said. At present, CDT is in the middle of a rate preferred stock raise, Divers added.
Recently CDT received a $125 million bond guarantee award under an inaugural program from the Treasury Department. CDT received the largest portion of the Community Development Financial Institutions (CDFI) Bond Guarantee Program's total allocation of $325 million. Divers noted that the award will provide long-term financing at attractive rates.
Divers was asked his thoughts on how CDT was able to secure the largest portion of the allocation relative to other recipients.
"We'd like to think it was based on our financial strength. CDT is probably one of the best-capitalized CDFIs in the country," he said.
In other capital-raising developments, CDT has also signed a participation agreement with a major insurance company, Divers added.
Divers also discussed a recent $52 million deal to purchase and rehabilitate a 360-unit property in New York's Coney Island area. CDT's equity investment for the purchase and rehabilitation is expected to help preserve affordable housing in the area, which was hit hard by Hurricane Sandy.
Divers explained that the $12 million rehabilitation budget will make the property more energy efficient and resilient to future storms. He also noted that the project brought together many of the major community investment organizations in New York State and New York City.
By Sarah Borchersen-Keto
NeighborWorks Columbus' Journey
NeighborWorks AmericaNeighborWorks America helps build strong, resilient communities by providing people with opportunities to live in safe, healthy and affordable housing.
We do this by directly supporting a network of more than 240 nonprofit organizations with technical assistance, grants and training for more than 12,000 professionals in the affordable housing and community development field every year. Learn more at NeighborWorks.org
Pablo DeFilippi: Advantages of CDFI Certification for Credit UnionsPablo DeFilippi, director of membership for the National Federation of Community Development Credit Unions, answers questions about what CDFI Certification can do for credit unions.
NCALL Self Help HousingTo read about other success stories from 2013, view NCALL's annual report:
http://ncall.org/docs/annual-report/2013_Annual_Report.pdf
For more information about NCALL's Self-Help Housing services:
http://ncall.org/self-help_housing.htm
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Impact Seven Business DevelopmentAn experienced alternative lender, Impact Seven is a statewide, private, nonprofit community development corporation committed to helping Wisconsin companies start, grow, and thrive. From start-up to expansion, Impact Seven works with you, offering financing and technical assistance for all stages of the business cycle. Impact Seven also develops and sells/leases industrial or commercial buildings to spur business development. From industry leaders like Century Foods of Sparta to small/medium-sized manufacturing firms like Lake Country Dairy of Turtle Lake to service/retail businesses like Bhupin Minimart, LLC of Sheboygan, businesses throughout Wisconsin have utilized Impact Seven's business development program to start and expand their operations. How can we help you reach your business goals? Call (800) 685-9353 www.impactseven.org
2013 Bush Prize Winner | Four Bands Community FundWith over a decade of experience working in a rural, economically distressed area, Four Bands Community Fund has created a suite of products and services designed to revive traditional culture that supports self-sufficiency, healthy family and community structure, and a thriving economy. Learn more at http://bfdn.org/FBCF
Community Ventures Corporation Installs First Next Step HomeCommunity Ventures Corporation, a Next Step Network Member, is a community-based, nonprofit organization that exists to improve the quality of life for urban and rural residents throughout Kentucky. We interviewed Myron Agnew, Director of Property Management at CVC, and George Porter, Next Step consultant, as CVC installed their first factory-built Next Step Home.
To learn more about Next Step, visit www.NextStepUS.org.
To learn more about CVC, visit www.cvcky.org.
CDF Community Enhancement Fund GrantThe Cincinnati Development Fund started the Enhancement Fund grant program in 2011 as a one-time way to help the community and projects we funded "get a little something extra" that wasn't previously in their budget. Now, in conjunction with CDF's 25th Anniversary, the program is being re-started.
CDF 25th Anniversary Celebration - History of CDFIn conjunction with the Cincinnati Development Fund's 25th Anniversary, CDF produced a video highlighting its work and several of its projects.
Revitalizing The West Chicago Avenue CorridorWest Chicago Avenue, a commercial stretch just minutes from downtown Chicago, has high vacancy rates, high crime and poverty rates and lots of neglected commercial space.
With the help of Partners in Progress, the Chicago Community Loan Fund and the West Humboldt Park Family and Community Development Council are working with residents and businesses to bring economic vitality to the corridor.
Learn more about CCLF, WHPFCDC and other organizations working to improve communities across the country: www.partnersinprogressproject.org
Maureen Joy Charter School | Self-Help Projectshttp://www.self-help.org
See Self-Help's profile on Maureen Joy School, a K-8 charter school in East Durham. Maureen Joy's current campus was purchased and refurbished as part of the Self-Help Ventures Fund.
Self-Help is a family of nonprofit organizations working to create and protect ownership and economic opportunity for all. Since 1980, Self-Help has grown to include two credit unions, a loan fund, and a research and policy group.
SELF-HELP RESOURCES
Self-Help | http://www.self-help.org
Self-Help Federal Credit Union | http://www.self-helpfcu.org
Center for Responsible Lending | http://www.responsiblelending.org
SELF-HELP SOCIAL MEDIA
Twitter | http://www.twitter.com/SelfHelpCU
Facebook | http://www.facebook.com/CenterForCommunitySelfHelp
LinkedIn | http://www.linkedin.com/company/self-help
