Community Development

Cinnaire Welcomes Three New Board Members

Cinnaire has announced the appointment of three new Board members. The new members join the organization’s Board of Directors to provide strategic direction supporting continued growth around Cinnaire’s commitment to investing in people and places to transform communities. “Sarida, Fred and Amandula have each demonstrated a remarkable commitment to our mission and industry,” said Mark …

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Delaware Catalyst Fund Will Create Affordable Homeownership Opportunities & Build Equitable Neighborhoods Statewide

Cinnaire has announced the first funding round for the Delaware Catalyst Fund, a $20 million fund investing in affordable housing in Delaware communities, will open May 15th. The Catalyst Fund is a partnership between Cinnaire and the Delaware State Housing Authority (DSHA) designed to address vacant property in communities in Delaware disproportionately impacted by the …

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Sarah Greenberg Appointed President, Cinnaire Lending

Sarah's headshot

Cinnaire has announced Sarah Greenberg has been appointed President, Cinnaire Lending. Sarah brings more than 19 years of experience to the role, serving most recently as Cinnaire’s Senior Vice President, Affordable Housing and Lending where she oversaw real estate lending and played a key role in structuring the lending department to support Cinnaire’s continued growth. …

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Cinnaire NMTC Development Recognized with National Real Estate QLICI of the Year Award

Ivy Tech Automotive Technology Center One of Five Businesses Receiving 2022 Novogradac Journal of Tax Credits Award Cinnaire has announced its NMTC development, Ivy Tech Automotive Technology Center in Indianapolis, has been recognized with a prestigious 2022 Novogradac Journal of Tax Credits Real Estate QLICI of the Year Award. The Novogradac Journal of Tax Credits Community Development QLICIs …

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Cinnaire’s Policy Pulse – March 2022

Chris Neary, Cinnaire’s Senior Vice President for Policy, Research and Advocacy, provides an update on the Build Back Better plan, an omnibus signed into law and potential reform to the CRA in the latest issue of Policy Pulse.    Click here to see the March 2022 edition of Cinnaire’s Policy Pulse https://conta.cc/3IFJJJQ  

Federal Home Loan Bank of Chicago Awards Cinnaire $5.3 Million in Affordable Housing Program Funds

The Federal Home Loan Bank of Chicago (FHLBank Chicago) is granting $29.2 million through its Affordable Housing Program (AHP) General Fund to help finance 49 housing projects located primarily in Illinois and Wisconsin. These funds will support the acquisition, rehabilitation, and new construction of over 2,315 housing units. Cinnaire received a $5.3 million award to …

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Cinnaire & Partners Celebrate Grand Opening for State-of-the-art Marygrove Early Education Center in Detroit

Marygrove Early Childhood Education Center Provides Transformative Cradle-to-Career Educational Opportunities for Detroit Families  Cinnaire recently joined our partners from Starfish Family Services, the Kresge Foundation, IFF, Capital Impact Partners, Northern Trust and MBS Urban Initiatives to virtually celebrate the grand opening for the Marygrove Early Education Center in Detroit. In a first for Detroit’s children, …

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Cinnaire Announces $175.7 Million Fund to Support Affordable Housing

Cinnaire has announced the closing of a $175.7 million Low Income Housing Tax Credit (LIHTC) fund that will finance the development or preservation of more than 1,648 affordable homes and 2,441 bedrooms in 5 states. Nine investors are participating in the fund, which is Cinnaire’s largest multi-investor equity fund since 2016. “Cinnaire’s new team leading …

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Cinnaire’s Permanent Recovery Supportive Housing Initiative Receives Affordable Housing Finance Readers’ Choice Award

The Affordable Housing Finance annual Readers’ Choice Awards honor and recognize outstanding affordable housing developments in ten categories. Projects are selected based on impact on a community, role in overall revitalization or social change, offering outstanding social services and addressing unique challenges. Cinnaire is pleased to announce Andy’s Place, in Jackson, MI, has received the …

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Cinnaire Announces $60 Million New Markets Tax Credit Award From U.S. Treasury CDFI Fund

Student in kitchen of Mott's Culinary Arts Training Program

Award Will Spur Projects Focused on Education and Job Creation in Disinvested Communities The US Department of Treasury’s Community Development Financial Institutions Fund (CDFI Fund) has awarded Cinnaire a $60 million New Markets Tax Credit (NMTC) Allocation. Since 2009, Cinnaire is an eight-time NMTC recipient with awards totaling more than $419 million. Cinnaire manages an …

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Jumpstart Wilmington Completes First Four Development Training Sessions

Jumpstart graduates at table

More than 150 aspiring developers apply for training program benefiting Wilmington residents  Since the Jumpstart Wilmington program was first launched in October 2020, 39 emerging developers have completed the intensive four-week training program through five sessions. The purpose of Jumpstart Wilmington is to promote the growth of local developer capacity through training and development to support neighborhood …

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Cinnaire Awarded $1.8 Million to Support Economic Relief in Underserved Communities Affected by COVID

U.S. Department of Treasury’s CDFI Fund Announced the Awards with Vice President Harris, Treasury Secretary Janet Yellen, Senator Mark Warren and Representative Waters The U.S. Department of Treasury has awarded $1.25 billion in COVID-19 relief funds to 863 community development financial institutions (CDFIs) through the departments CDFI Rapid Response Program (CDFI RRP). The grants will be …

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