News / Events | Dudley Ventures

Feb 19 2024

'Green' fuel facility planned in St. Louis, aided by $7M in tax credits

ST. LOUIS — The city of St. Louis has authorized up to $7 million in tax credits for a startup that wants to locate an industrial facility in south St. Louis. In line to receive the New Markets Tax Credits is Terra Environmental Holdings, or an affiliate company, after a vote Thursday by the board of the city’s economic development agency, the St. Louis Development Corp. Terra was organized in December 2022 by Anthony Smith of south St. Louis County, according to state records.

Jan 26 2024

CDFI Fund Releases 2023 NMTC Applicant Demand

The CDFI Fund released an announcement today stating that it received 196 CDE applications for the 2023 Round of the NMTC Program, totaling $14.7 billion in NMTC allocation requests. This is approximately three times the $5 billion that will be awarded in the 2023 Round announcements.

Nov 1 2023

Olean's First National Project Receives Preservation League Award

The cornerstone to recent revitalization efforts in the city’s business district will be honored next month. Olean’s First National Bank & Siegel’s Shoes revitalization project by Buffalo-based Savarino Companies has received a 2023 Excellence in Historic Preservation Award from the Preservation League of New York State. The award is one of eight to be given this year. This year’s award winners will be recognized at a public reception at the Century Association in New York City on Dec. 4. “The 2023 Excellence Award winners span the state, from Olean to Brooklyn,” said Preservation League President Jay DiLorenzo. “They represent how historic preservation addresses critical issues, from climate action to affordable housing, from spurring economic development to uplifting underrepresented histories. We are honored to recognize the incredible work each award winner has done for their communities and beyond.”

Sep 22 2023

Treasury Department Announces $5 Billion in New Markets Tax Credits

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund announced $5 billion in New Markets Tax Credits today that will spur investment and economic growth in low-income urban and rural communities nationwide. A total of 102 Community Development Entities were awarded tax credit allocations, made through the 2022 round of the New Markets Tax Credit Program. We are humbled and thrilled to share that DV Community Investment has been awarded $65 million in New Markets Tax Credit allocation. Over the past 13 years, DVCI has directly created over 13,000 quality permanent jobs. These 69 projects have served more than 300,000 people annually, previously lacking essential services, including healthcare, education and homeless services resources.

Jul 25 2023

NMTC Coalition Opens Sign-on Letter to Congress Urging Members to Make the NMTC Permanent

The NMTC Coalition is circulating an organization sign-on letter to Congress urging members to make the NMTC permanent. Organizations committed to community and economic development, adding jobs and increasing wages, and supporting healthcare, education, manufacturing, infrastructure, telecom, energy, the arts, and recreation are encouraged to add their name to this letter in support of a bipartisan program with a 20-year track record of success.

Jun 27 2023

Monogram Foods receives funding for expansion

MARTINSVILLE, VA. — Monogram Foods, with assistance from CEI Capital Management LLC (CCML), secured $8 million in New Markets Tax Credit (NMTC) financing to proceed with an expansion of the company’s Martinsville, Va., manufacturing plant.

Jun 20 2023

Affordable housing, dumplings: Groundbreaking held for mixed-use development in East English Village

A ceremonial groundbreaking was held for a new mixed-use development along the E. Warren Ave. corridor in East English Village late last week. The $8.2 million development will feature 18 residential units and commercial space that has already signed Gajiza Dumplings as its tenant, the (until now) pop-up restaurant and a finalist in the 2022 Hatch Detroit small business pitch competition.

Jun 14 2023

Governor Hochul Announces Completion of $12.5 Million First National Bank Project in Olean as Part of Downtown Revitalization Initiative

DV Community Investment was pleased to attend the ribbon cutting for the First National Building in Olean, New York, alongside Savarino Properties, LLC and Empire State Development. "The ribbon cutting for the First National project marks a long-awaited milestone in the redevelopment of Olean's Central Business District," Governor Hochul said. "This historically significant, mixed-use building, which was vacant for nearly 30 years before we tackled its restoration, brings a vibrancy to Olean that will contribute to the city's goals for a walkable, thriving downtown."

Jun 13 2023

Lauderdale Community Hospital - Novogradac JTC Non-Metro QLICI of the Year Award

DV Community Investment is proud to have received the Novogradac & Company LLP Non-Metro QLICI of the Year Award, alongside CCG COMMUNITY PARTNERS LLC and Hope Enterprise Corporation, for our collective #NMTC investment in Lauderdale Community Hospital in Ripley, Tennessee.

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