Financial

HELP WANTED

The AMWS Financial Channel is one of seven program assets of the national 501c3 public charity, Youth Achievers USA Institute. The channel reports on leadership opportunities for YouthUSA beneficiaries, supporting adults and qualifying partners. Programming for this channel is the responsibility of a qualifying Community Asset Manager of YouthUSA. The successful candidate must be able to demonstrate measurable value to the YouthUSA corporate mission. A transparent, non-discriminatory selection process begins with an applicant’s written vision for this channel. Please post your vision statement as a comment to this page.

Feds award $4.5 million to community lenders

Chicago Sun Times, July 18, 2011 A Treasury Department agency awarded a total of $4.5 million to three Chicago community lenders on Monday to help finance affordable housing, health-care clinics, neighborhood charter schools and local startup companies. The lenders — non-profits lender IFF, the Chicago Community Loan Fund and the Illinois Service Federal Savings and Loan Association — will use the $1.5 million that each received to obtain larger loans from major banks. They then loan the larger amount to projects in needy neighborhoods at lower interest rates than would conventional banks. Click here for more.


$3.5 B for 2011 New Markets Tax Credits

Tax Credits Available for Investments to Help Low-Income Communities

U.S. Treasury Department, May 31, 2011, Washington, DC - The U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) released today its 2011 Notice of Allocation Availability (NOAA) which officially opens the 2011 round of competition for $3.5 billion in tax credits under the New Markets Tax Credit Program (NMTC Program).  

“Despite the signs of growth we see in our nation’s economy, the economic recovery has not reached the hardest-hit communities we serve. The New Markets Tax Credit is a critical tool being used to attract private sector capital for underserved communities, and I am delighted to announce the opening of this year’s round making available $3.5 billion of tax credit authority,” said CDFI Fund Director,  Donna J. Gambrell. “These credits will help economically-distressed communities to create or retain thousands of jobs and provide low-income community residents with access to quality education, health care, job training, healthy food options and other critical retail services in their communities.”   Click here for more.