May 14 2017

A Farm Grows in The City

Wall Street Journal - Urban farming isn’t easy. It can require significant investment, and there are bureaucratic hurdles to overcome. Many companies have yet to turn a profit, experts say. A few companies have already failed, and urban-farming experts say many more will be weeded out in the coming years. But commercial vertical farms are well beyond experimental. Companies such as AeroFarms, owned by Dream Holdings Inc., and Urban Produce LLC have designed and operate commercial vertical farms that aim to deliver supplies of greens on a mass scale more cheaply and reliably to cities, by growing food locally indoors year round.

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May 10 2017

Tax Credits, Tax Reform and Individual Investors: A Fresh Look?

Tax reform is on the horizon. While proponents are cautiously optimistic that investor-based tax credit programs (e.g., the low-income housing tax credit, the historic rehabilitation tax credit, new markets tax credit and renewable energy tax credits) will survive tax reform, there is a question of whether tax reform will negatively impact the amount of available tax credit equity for these highly successful and popular programs. There is also the prospect of a federal infrastructure credit, substantially increasing the amount of credits in the marketplace.

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May 2 2017

East Main Redevelopment Receives Governor's Award for Historic Preservation

May 2, 2017 - East Main Redevelopment today received the Governor's Award for Historic Preservation. The East Main Redevelopment project, a catalyst for revitalization of the primarily vacant block of East Main Street, has changed the face of downtown Milan. The project is the redevelopment of four historic buildings (constructed between 1845 and 1892) into a mixed-use project that includes fifteen new apartments and eight storefronts restored to their original facades. The 27,000 square foot project provides fourteen residences (eight of which are set aside for low-to-moderate income tenants) that are within walking distance of all downtown businesses and Wilson Park, and also features 11,000 square feet of commercial space.

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Apr 28 2017

Winston Medical Center Reopens 3 Years After Tornado

WJTV - It’s been three years since 23 tornadoes ripped through parts of Mississippi, leaving communities devastated from lives lost and buildings destroyed. The county hardest hit by a twister on April 28, 2014, was Winston.

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Jan 24 2017

Financing the Rehabilitation of Historic Real Estate Development in Arizona Phoenix, AZ

Dudley Ventures was proud to participate in the Financing the Rehabilitation of Historic Real Estate Development in Arizona seminar at Snell & Wilmer on January 24, 2017. Attendees learned about the Historic Rehabilitation Tax Credits (HTC) program and how to access it for real estate development projects, which to date, has helped developers and business owners gain access to a major source of capital to solve a portion of their financing needs while creating significant community and economic impact in cities and towns across Arizona and the nation.

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Oct 19-20 2017

Novogradac 2017 New Markets Tax Credit Fall Conference Austin, Texas

Dudley Ventures is proudly sponsoring this event.

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Jun 8-9 2017

Novogradac 2017 New Markets Tax Credit Spring Conference Washington, DC

Dudley Ventures is proudly sponsoring this event.

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Nov 17 2016

CDFI Fund Awards $7 Billion in NMTC Allocation

The Community Development Financial Institutions Fund has announced the 120 Community Development Entities who were selected to receive New Markets Tax Credit allocations totaling $7 billion under the 2015-2016 Round. 238 Community Development Entities submitted 2015-2016 NMTC applications and requested more than $17.6 billion in allocation authority. DV Community Investment is proud to have received its fifth NMTC Allocation in the amount of $80,000,000. DVCI's primary mission is to create quality full-time jobs in communities of concentrated unemployment, targeted to low-income persons, by financing businesses including manufacturing and distribution facilities which are strong economic engines for high quality job creation, projects which deliver quality health care, education, social services, retail and housing, and emerging industry sectors. In total, 6,249 quality permanent jobs and 5,469 construction jobs have been created with DVCI’s NMTC allocation to date. Please download the PDF to the left to read the full article.

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Nov 4 2016

USDA-Guaranteed Loans Can Now Be Used in NMTC Transactions

The United States Department of Agriculture (USDA) business and industry loan guaranty program has been an important economic development financing tool for rural America. Under the American Recovery and Reinvestment Act of 2009 (ARRA), more than $1.6 billion was authorized for the loan guaranty program. Similarly, the New Markets Tax Credit (NMTC) program, amended in 2006 to ensure that non-metropolitan communities were allocated a proportional share of qualified low-income community investments, has accounted for significant investment activity in rural communities. From 2003 to 2011, more than $3.5 billion was invested in non-metro census tracts under the NMTC program. Unfortunately, until now these two programs could not be combined.

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