News / Events

Fuel Cell Investment - California State University San Marcos

DV Renewable Financing, LLC (“DVRF”) is pleased to announce the $8 million financing of two Doosan Fuel Cells at California State University San Marcos (CSU) in San Diego, California. The innovative fuel cell project financing, an emerging renewable energy asset class, was made possible through a captive investment fund, managed by DVRF, utilizing $3 million in Investment Tax Credit equity, debt financing, and California State PUC’s Self Generation Incentives.

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AeroFarms Groundbreaking Newark, New Jersey

Attended by Newark Mayor Baraka, New Jersey Secretary of Agriculture, Douglas F. Fisher, and New Jersey Acting Governor, Kim Guadagno, a host of dignitaries, investment partners, and members of the Ironbound Community, AeroFarms broke ground today on its 69,000 square foot, vertical, urban, farm and corporate headquarters. Utilizing a proprietary aeroponic growing system, AeroFarms will produce two million pounds of leafy greens per year. 78 new, direct, permanent, quality jobs will be created, with over 50% employing local community residents. Lauded as an innovative, clean industry, it replaces decades of industrial polluters in the area, the remnants of which continue to be remediated.

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CDFI Fund Awards $3.5 Billion in NMTC Allocation

The Community Development Financial Institutions Fund announced the 76 Community Development Entities who were selected to receive New Markets Tax Credit allocations under the calendar year 2014 round. The New Markets Tax Credit allocations awarded totaled $3.5 billion in tax equity. Please download the PDF to the left to read the full article

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In Newark, a Vertical Indoor Farm Helps Anchor an Area’s Revival

Schools, sports arenas and apartment buildings have sprouted in recent years in this troubled city as part of efforts to revitalize it. Now, it’s kale’s turn to take root in a most unusual spot.

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Seasoned NMTC Players Drive Industry Growth

The recurring drama of short-term extensions has become all too familiar for New Markets Tax Credit (NMTC) program participants. By the time Congress reauthorized the NMTC program in December 2014, at $3.5 billion for its 2014 round, the Community Development Financial Institutions (CDFI) Fund already had a pool of 263 applicants requesting an aggregate $19.9 billion in NMTC allocation authority.

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New $30 Million Deal To Develop World's Largest Indoor Vertical Farm In Newark

NEWARK, N.J., March 9, 2015 /PRNewswire/ - RBH Group and its investment partners, Goldman Sachs Urban Investment Group, Prudential Financial Inc., and AeroFarms, together with the City of Newark and the New Jersey Economic Development Authority (NJEDA), announce the closing of a $30 million project to redevelop a former industrial site in the Ironbound community of Newark, NJ into the world's largest indoor vertical farm and global corporate headquarters for AeroFarms.

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$26.5 Million Development in Brooklyn, New York Will Provide 87 Brand New Homes for Low-Income Families including 26 Units for U.S. Veterans

L+M Development Partners in partnership with Bell Urban LLC and the City’s Department of Housing Preservation and Development (HPD), Housing Development Corporation (HDC) along with the U.S. Department of Veterans Affairs (VA) and partners, today announced the opening of Utica Place, a mixed-used project in Crown Heights, Brooklyn. The new development consists of two buildings: a 12-story affordable rental building and a four-story commercial building that includes community facility space and a daycare center.

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The Novogradac Journal of Tax Credits Hosts Community Development QLICI of the Year Awards Ceremony

The Novogradac Journal of Tax Credits hosted the Community Development QLICI of the Year Awards Ceremony at the Novogradac New Markets Tax Credits Conference in New Orleans, Louisiana. DV Community Investment, alongside Goldman Sachs and the Low Income Investment Fund, proudly accepted the Metro QLICI of the Year Award for the Broadway Marketplace project in New York, New York.

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