The ability to fund high-impact community facilities and mixed-use projects that develop or redevelop real estate, providing access to critical community goods and services to LIPs, create affordable housing in areas with high need, both in metro and non-metro areas. Catalyze private economic development in Disadvantaged Businesses and Communities (DBCs). CDFA has a strong track record and ongoing mission of helping DBCs by providing access to nontraditional, flexible capital. CDFAs financial products enable smaller less experienced developers, investors, nonprofit’s and community banks to participate in NMTC transactions. Our projects move capital into LICs and provide services and opportunities for LIPs. From 2014 to Oct. 2019 CDFA created 3 Equity Innovative (EI) Funds with 2012, 2015 and 2017 Allocation with 8 QALICBs. Each EI Fund is set up as a blind fund to process multiple transactions with multiple QALICB, but only 1 Leverage Lender and 1 Investment Fund, so each QALICB receives costs savings through shared expenses. CDFA created standard legal documents for QALICBs, paid for by CDFA from our NMTC fees, to further reduce costs. EI Fund has less flexibility in its financing structure than CDFAs Flex Debt product, but if a QALICB meets EI Fund criteria, this product has a track record of reducing QALICBs costs on average by $236,513 or 60% when compared with Flex Debt product, increasing the Net Benefit to the projects. It also reduces the time it takes to close on financing by an average of 4 months or 50%. CDFA has a general pipeline of 12 projects totaling $105mm with 100% in DBCs. CDFAs pipeline is made up of 81% community facilities for education, healthcare, short term lodging and multi service community organizations and 19% mixed-use with education, office and affordable housing.
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