Announcements
- Park National Bank in Chicago – a 2009 NMTC awardee – has hired The Binnick Group to coordinate the formation of ten (10) subsidiary CDEs and to prepare and submit a CDE Certification Application.
- The City of St. Louis has hired The Binnick Group to form twenty (20) additional subsidiary CDEs and to prepare and submit a CDE Certification Application.
- In the second quarter of 2010, The Binnick Group assisted with writing and coordinating the submission of three (3) 2010 New Markets Tax Credit applications for applicants located in Arizona, Florida and South Dakota. Additionally, The Binnick Group successfully completed Service Area Amendment requests for two of the three applicants.
- In advance of the CDE Certification deadline for the 2010 NMTC Application round, The Binnick Group assisted emerging CDEs in Arizona, Baltimore, Connecticut, Kansas City, KS, New Jersey, Altoona, PA, and San Francisco with their CDE Certification Application submissions.
- In late April, The Binnick Group completed a CDE Certification Application for ten (10) additional Harbor Bank subsidiaries, which were successfully certified on or about June 30th.
- As the Senate begins consideration of the American Workers, State, and Business Relief Act of 2010, which would extend tax provisions, including the New Markets Tax Credit Program, The Binnick Group signs Letter of Engagement with Florida-based CDE to write 2010 New Markets Tax Credit application.
- The Binnick Group has just completed annual compliance monitoring related to confirmation of CDE Status for the City of Phoenix.
Advisory Board Updates
- An emerging Community Development Entity (“CDE”) has contracted with The Binnick Group to assist with the composition and structuring of its advisory board in preparation for submitting a CDE Certification Application and 2010 NMTC Application.
- U.S. Bancorp CDC was able to close a transaction before 12.31.09 with assistance from The Binnick Group to add a subsidiary to an existing allocation agreement so the deal could close. Additionally, The Binnick Group coordinated the opinion letter work related to finalizing U.S. Bancorp CDC’s 7th round Allocation Agreement – also done well in advance of 12.31.09.
Announcements
- Townsend Capital, LLC hires The Binnick Group to prepare a CDE Certification Application for additional subsidiary CDEs and to coordinate their enjoinment to the 7th round Allocation Agreement.