481 direct construction FTE jobs|create and retain 155 direct permanent FTE jobs
Seeking $34 million of NMTC allocation for the creative adaptive reuse of the 65,000 square foot Moran Plant, as an important anchor for the northern end of the City of Burlington, Vermont’s waterfront. Sitting vacant, underutilized, and contaminated for over three decades, the revitalized Moran Plant will provide the physical infrastructure to create a powerful new focal point for community events, conferences, conventions, workshops, education, performance and arts installation at a scale otherwise unimaginable - and sorely needed - in Burlington. Moran will transform a major gateway from an eye sore to a thriving waterfront business district and bolster the economic revitalization of the City’s waterfront, resulting in 155 direct permanent jobs and community and commercial goods and services for low-income persons in the City of Burlington’s north end. The Binnick Group is providing assistance with sourcing allocation for the project.
GCI is the largest integrated telecom company in Alaska, having provided cellular service to over 100 rural communities in one year alone. This project makes broadband available for the first time to over 9,000 households and nearly 750 businesses. The TERRA II project is the second phase of a telecommunications infrastructure project. The multi-phase TERRA project will develop an integrated microwave/fiber optic cable backbone system that will bring a Broadband system to AK Native Villages and other rural communities. Based in Kotzebue, the TERRA II network will serve communities north and west of Fairbanks, including the AK North Slope extending to Prudhoe Bay. GCI also serves numerous public, non-profit and private community institutions and entities, such as regional healthcare providers, school districts and other regional and Alaska Native organizations. Community outcomes include: (i) use of Tele-Medicine in diagnosis and treatment of patients by medical facilities, expanding their ability to provide quality health care thru collaboration with big-city medical facilities; (ii) use of 2-way broadband communications by public safety officials to support operations and coordinate with statewide disaster control; curricula, enrichment, and classroom support offered remotely by AK State, and Federal programs; and (iv) post-secondary education available from AK State Universities. The Binnick Group worked with the Allocatee to deploy $9 million in NMTC allocation to the project.
KemPosits used its QLICI to finance, lease, construct, develop and operate an advanced manufacturing operation and certain commercial space to be subleased to tenants in an existing facility in the Mississippi Band of Choctaw Indian’s TechParc. The NMTC subsidy was used to fund the purchase of a long-term lease and to build-out and equip 120,521 square feet in an existing facility on the Choctaw Reservation. Without the subsidy from the NMTC, KemPosits would not have been able to raise the necessary capital to launch the start-up manufacturing business. KemPosits tried several conventional financing strategies, including seeking private equity and conventional debt, before arriving at the NMTC approach. In addition to facilitating a job-creating investment, this NMTC investment implements three additional policy goals broadly supported by the current Administration: (a) retaining American manufacturing jobs; (b) rewarding research, development and domestic implementation of new technology; and (c) developing new environmentally friendly technologies. The Binnick Group worked with the Allocatee to deploy $9 million in NMTC allocation to the project.
“The Binnick Group understands and has first-hand experience with all of the myriad components that are fundamental to a successful NMTC outcome. TBG’s strong industry relationships, particularly with the Community Development Financial Institutions Fund (“CDFI Fund”), have proven invaluable in helping UACD deploy its allocation timely.”
Joe Summers,
Urban Action Community
Development/Cross
Street Partners
“The Binnick Group’s experience, professionalism, tenacity and strong industry relationships are a few of the key reasons we seek to continue our long-standing relationship with The Binnick Group.”
Bill Seddon,
St. Louis Development
Corporation
“Thanks for your help on getting the CDEs set up so quickly!”
—Client
San Francisco, CA
“BTW, we ended up closing a deal in 2008, so it was incredibly useful to get our allocation agmt finalized by year end. Thanks.”
—Client Portland, OR
“You have really done an amazing job with all of our new markets clients. You have given our practice a level of expertise and professional service that has been above and beyond all expectations”
—Herbert F. Stevens
Nixon Peabody LLP
“Enjoy your holidays and thank you again for shepherding this through the process so quickly.”
—Client Harrisburg, PA
“Thanks for your continued high level of professional cooperation and assistance with this matter.”
—Client Missoula, MT
