CDF Development's strategy is to target investments in retail redevelopments done in partnership between private developers and public entities (typically municipalities or counties). Specifically, these projects:
Must not be able to be completed but for the addition of a New Market Tax Credit (NMTC); i.e., must demonstrate a clear need for enhanced returns for investors provided by a NMTC
Must serve as "anchors" for economic redevelopment in low-income communities
Must provide multiple levels of economic stimulus to the low-income communities in which they locate, including direct and indirect job creation, and "spin-off" economic stimulus
A portion of any CDF Development loan/investment to such a project must be used to offer necessary terms to attract high-class, national-level retailers to low-income communities in which they would normally not locate. A portion of the loan must further be employed to provide subsidized deal terms and/or loans to local tenants to locate in such projects.
CDF Development-financed projects should provide economic stimulus on multiple levels:
- Local job creation by national-level retailers entering the market;
- Local low-income business stimulus and job creation from local retailers entering such projects;
- Additional direct job creation from related business service providers to such projects (maintenance, security, etc.);
- "Spin-off" job creation through additional business creation and economic development growing from CDF Development-financed "anchor" projects serving as revitalization catalysts for their communities.
To submit preliminary information on a potential project for CDF Development financing, please click here and complete the on-line form.