Colorado business bank - Citywide Banks
         
NMTC - Colorado Community Development Fund
NEW LOAN PRODUCTS WILL TARGET SMALL BUSINESSES IN DENVER'S LOW-INCOME COMMUNITIES
Colorado Community Development Fund
dfCCDF Home Page dCity & County Partners
dfExecutive Summary dNon-Profit/Training Partners
ccAdvisory Board dService Area Information
dGoverning Board ccPipeline Projects
dKey Committees ccCongressional Support
Contact Mark Job for more information
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poverty rates dictate need for NMTC
Click here to view pipeline projects

Citywide Banks is pleased to announce that it recently submitted, through our CDE, Colorado Community Development Fund (CCDF), an application for an allocation within the 2012 Round of New Market Tax Credits (NMTC). The NMTC program is designed to encourage investment in low-income communities (LICs) through the provision of a federal tax credit and is administered by the CDFI Fund on behalf of the U.S. Department of Treasury.

The NMTC program is an integral part of Citywide's strategic plan. We have teamed with local non-profits, economic development entities and our existing customer base to identify a business strategy that focuses on the creation of quality jobs accessible to residents of highly distressed LICs. CCDF will seek out projects that create new jobs in LICs that provide the following:
  1. Above-average wages
  2. Employment benefits such as employer paid health
  3. Employer paid training with internal advancement opportunities
  4. Access to such jobs irrespective of education levels
CCDF will also ensure that a portion of the NMTC capital available for the project will provide for funding to a local non-profit for job/business development training to ensure that the proposed community impacts are achieved.

Since 1963, Citywide Banks has been serving LICs within the Metro Denver Area. Based on the location of our branches and the content of our loan portfolio, we are ideally suited to administer this precious resource.

Citywide Banks will serve as the Leverage/Senior Lender in each transaction. This means that CCDF can provide a streamlined NMTC process that efficiently delivers the greatest community impact to the applicable LICs.

We are a Community Bank and as such our market is local. We believe that by creating CCDF we are extending our commitment to our Community by providing an additional financing tool otherwise unavailable without the benefit of New Market Tax Credit financing.

Please click on the links throughout this page to learn more of our public and non-profit partners. There are also site plans for proposed projects/transactions that we are evaluating. Finally, we encourage you to contact us to learn more about this tool and to submit projects for our consideration.

Thanks for dropping by,

Kevin Quinn - Citywide Banks Kevin Quinn
President and CEO
Citywide Banks