Yonkers Pier

The Yonkers Pier is the only turn-of-the 20th century pier still in use on the Hudson River. The restoration of the Pier is another milestone in the remarkable renewal of the Yonkers waterfront, initiated by the development of nearby Yonkers Public Library and the Board of Education Building. The restored first-floor pavilion of the pier provides public recreation space and access to the waterfront and serves as the landing for the river ferry service. The second level holds X2O Xaviars on the Hudson, a 260-seat “five star” restaurant. In addition to NDC’s investment, the development was also awarded a HUD Section 108 loan from the City of Yonkers.

Port of Hueneme

The modernization of the Port of Hueneme retained $7 billion in trade business and 500 livable wage jobs. Clearinghouse CDFI provided $10 million of NMTC allocation for this $14.7 million project. Newly installed, shore-side electrical power will eliminate 230 tons of emissions annually from vessels docking at the port. Additionally, the Port will facilitate the distribution of 1.4 million pounds of fresh produce for a mobile food pantry serving 45,000 low-income residents in surrounding food deserts.

America’s Central Port Complex

The project includes million square feet of new, rail-served manufacturing and warehousing space in the industrial development along the Mississippi River’s Chain of Rocks shipping canal. The warehouse project is designed to provide additional capacity following the opening of the port’s new public South Harbor facility in 2015. It represents the third major expansion of the port complex, located between the canal and Route 3 in Granite City and the city of Madison.

Eagle Railcar Services

Eagle Railcar Services acquired, remediated and renovated the former B&O Railroad Servicing facility, with 10 miles of track and 200,000 square feet of buildings located in rural Washington, Indiana (pop, 12,089), into a full-service railcar service center (the “Project”). The existing facility suffered substantial environmental contamination under its prior ownership and Eagle improved the facility to comply with all appropriate operational and health safety codes. The project provides services to the railroad industry and companies that transport via railcars, including comprehensive general shop services, railcar repair and maintenance, cleaning, painting, lining, heavy wreck damage repair, Tank Car Requalification, Tank Car Modifications, trans-loading/transfers, and railcar storage and mobile repair to railcar owners and lessees.

Mid River Terminal

New Markets Tax Credits are helping to revive a rural community in Northeastern Arkansas, providing the necessary capital for a highly distressed river town to turn the corner. Osceola, Arkansas, experiencing economic growth after Enhanced Community Development (ECD) and other Community Development Entities provided federal New Markets Tax Credit and Arkansas New Markets Jobs Act tax credit allocations to build MidRiver Terminal, a freight transport facility. In total, ECD provided $5 million in federal New Markets Tax Credit allocation and $4.8 million in Arkansas New Markets Jobs Act tax credit allocation to this job-creating business. Located on the Mississippi River, Mid-River Terminal supports operations at the state’s largest economic development project, Big River Steel, a $1.3 billion steel mill expected to bring 500 jobs to the highly distressed area.

Makah Commercial Fishing

The Makah tribe’s fishing dock in northwest Washington is ready for business – and spurring economic development in the region.

Lyon Shipyard

The Norfolk Ship Repair & Drydock Company (NSDC) is located in the South Brambleton Redevelopment Area of Norfolk, VA. The company was once a leader in the ship repair industry, but since the late 1990s, its plant and facilities faced growing disinvestment and underutilization, and needed repairs to existing buildings, upgrading of production equipment, and environmental remediation. Lyon Shipyard, Inc. is a full-service ship repair company also based in Norfolk, with a facility adjacent to the NSDC shipyard. Lyons provides a full range of ship maintenance and repair to the U.S. Navy and related maritime companies in the area. With 120 employees, Lyon Shipyard had a strong track record in maintaining and investing in its facilities and sought to purchase the fledgling NSDC. In 2007, City First Capital provided $7.1 million in NMTC financing for Lyon Shipyard’s acquisition and rehabilitation of the NSDC shipyard, which included 2 dry docks, a pier, machinery, and a cluster of buildings on the approximately 11- acre property. Dry docks, which are narrow basins that can be flooded for ship construction and transportation, are in high demand and had a two-year waiting period for new construction. The expanded capacity gave Lyon Shipyard a competitive edge in the shipbuilding and repair industry. The acquisition and upgrade of the shipyard helped retain 120 existing jobs. With the full rehabilitation, which included re-roofing of existing buildings, pier repairs, removal of a damaged pier, utility repairs and upgrades, production equipment upgrades, and integration of the shipyard with Lyon Shipyard’s existing facilities, the number of new jobs created by this project exceeded 100.

Ag Processing Grain Terminal

Ag Processing Inc. (AGP) has successfully completed the development of an integrated grain and oilseed storage and export facility at Terminal 2 of the Port of Grays Harbor in Aberdeen, WA. Serving as a gateway destination for US grain exports, the Storage & Export Facility consists of a railroad receiving building and six concrete silos with a storage capacity of 52,450 metric tons (2,065,000 bushels) of grain and oilseed. Alongside the Port’s new state-of-the-art ship loading facility, the storage facility is a key component of a joint plan by AGP, the Port of Grays Harbor, and Pacific Railroad to develop a modern deep-water port with strategic access to Pacific Rim markets. Ag Processing Inc. has headquarters in Omaha, NE and is owned by approximately 180 local cooperatives representing over 250,000 farmers throughout the Midwest.

Toledo Port Expansion

Finance Fund has awarded a total of $15.36 million in federal and state New Markets Tax Credit (NMTC) financing to Ironville Improvement, LLC., a subsidiary of Midwest Terminals of Toledo, Inc. for expansion of the Port of Toledo’s Midwest terminals. The expansion will create 40 permanent full-time jobs and 160 construction jobs in an area where unemployment is approaching 13%. The new construction project is located in a low-income census tract with a 17% poverty rate. The Ironville site is owned by the Toledo-Lucas County Port Authority (TLCPA), and operated by Midwest Terminals of Toledo, Inc. TLCPA provided a $10.2 million loan, and PNC New Markets Investment Partners, LLC, the investor, provided an additional $2.5 million in federal allocation. The award enables MTTI to build a rail system and infrastructure, upgrade the dock face with sheet tile, purchase and install a material handling system, and make land improvements.
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