2015 Metro QLICI of the Year Award Recipients

Winner

Muller Job Training Facility

CDEs: Citibank NMTC Corporation and DV Community Investment LLC
Developer: The Doe Fund
Owner: The Doe Fund
Location: Bronx, N.Y.

2015 QLICIs of the Year Awards Metro Category Winner, Muller Job Training Facility

Citibank NMTC Corporation and DV Community Investment LLC win the 2015 Metro QLICI of the Year Award for their investment in Muller Job Training Facility in the Bronx, N.Y. The $15.5 million in equity raised by new markets tax credits (NMTCs) will finance the redevelopment of the former Army Reserve Center into a 55,000-square-foot residential and job training facility for the homeless by The Doe Fund (TDF). TDF is a New York nonprofit whose mission is to develop holistic programs to break the cycles of homelessness, addiction and criminal recidivism.

The development of the Muller Job Training Facility will have a significant impact on the local homeless community. Jacob Zlotoff, vice president of Citi Community Capital, said the new facility will house and serve 200 homeless people, with an average stay of six months. The facility is expected to serve more than 8,000 people in the next 20 years, with half of them expected to be veterans. Services will include comfortable and safe housing, three nutritious meals a day, individual and group counseling, education and occupational training, job placement, permanent housing placement and most importantly, transitional work opportunities which will pay the trainees above New York state minimum wage. In addition to learning job skills, participants earn an income and are taught financial responsibility. TDF requires all program participants to save 13 percent of their wages and, if applicable, meet child support obligations.

Zlotoff said the development will also create 115 jobs, including 40 construction jobs and 75 permanent positions. Of the 75 positions created at the new facility– including case managers, administrative support, security and others needed to operate the facility and programs–72 (96 percent) will be filled by low-income people and more than 50 percent of the new jobs will be filled by formerly homeless graduates of TDF's program.

TDF received a 20-year operating contract from the city of New York's Department of Homeless Services (DHS) to provide funding for the project. However, while the contract includes a debt service line item, it was only sufficient to support 70 percent of the cost of redeveloping the property and operating TDF's programs. The $9.5 million NMTC financing provided by Citibank NMTC Corp, along with $6 million of NMTC allocation provided by DV Community Investment LLC, allowed TDF to fill the 30 percent funding gap, enabling the development to move forward and to offer a wide range of services. Citibank also provided $4.8 million of NMTC equity, a $10.7 million leverage loan, and a $4.9 million direct loan to the project.

 "[This is a] great project, creating pathways to productive lives for approximately 400 homeless men each year. They are not just providing safe housing and meals, but also education, skills training, parenting and other personal skills. It's very innovative and flexible financing, as well as targeted population qualifications to meet highly distressed criteria," said John Chamberlain, a 2015 Community Development QLICIs of the Year Awards judge.

Honorable Mention

Goodwill Opportunity Campus LLC

CDEs: AMCREF Community Capital and Banc of America CDE 
Developer: Goodwill Industries of Southern Piedmont
Owner: Goodwill Industries of Southern Piedmont
Location: Charlotte, N.C.

2015 QLICIs of the Year Awards Metro Category Honorable Mention, Goodwill Opportunity Campus LLC

AMCREF Community Capital and Banc of America CDE earn honorable mention for the 2015 Metro QLICI of the Year Award for their investment in Goodwill Opportunity Campus LLC in Charlotte, N.C. Goodwill Opportunity Campus LLC is a nonprofit community center that provides career training for low-income individuals. The development of the new campus, a 160,000-square-foot facility on an 18-acre site, is financed from equity raised from new markets tax credits (NMTCs).

Goodwill Opportunity Campus LLC will enable Goodwill Industries of the Southern Piedmont (GISP) to consolidate operations and expand its services, including providing essential job training, career coaching and placement, and other supportive services to the low-income community in West Charlotte. Susan Seagren, director of AMCREF Community Capital, said the new campus will provides services to an average of 450 people a day, 86 percent of whom live in extreme poverty. The campus created 120 full-time jobs and retained 203 jobs. Construction of the campus will create an additional 96 jobs.

"Goodwill Opportunity Campus continues and expands upon the great work that Goodwill already does for its community. Charlotte needed this," said Kandi Jackson, a 2015 Community Development QLICIs of the Year Awards judge.

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