CBO Financial
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The desire to make things better is what drives CBO Financial.
CBO Financial Fills Financing Gaps for a Sector that Banks Perceive as High-Risk
We understand the challenges faced by project sponsors working in low-income communities
CBO is dedicated to funding projects that will help to revitalize the nation’s most disadvantaged communities. We work throughout the United States and its territories including Guam, Puerto Rico and the USVI; in fact CBO Financial was the first to fund New Markets Tax Credit transactions in Guam and Puerto Rico, including securing direct allocations for clients.
Over $1 billion into low-income communities nationwide
While this number is significant, we believe our greatest achievements lie in the lives we have helped transform. A single mother on her way to a new career and a more secure life for her family. An ex-convict given a second chance and sharing it with others. And a child discovering that his future can shine brighter beyond the streets.
In the past, CBO’s investments have primarily focused on national nonprofit organizations providing community services such as education, health care, arts, and child care programs. Recently, CBO has broadened its focus by including projects committed to bringing healthy foods to low-income communities through investment in food-related projects.
CBO is continually seeking new investment opportunities within low-income communities in the United States and its territories. We’d love to work together to transform your community.
MILLIONS OF DOLLARS. IMMEASURABLE RETURNS.
RAY AND JOAN KROC CENTER, CAMDEN, NEW JERSEY
CBO assisted The Salvation Army in securing $28 Million in NMTC funding for this project. This extraordinary project will impact Camden‘s families for generations to come by targeting a population with a staggering 51% who live at or below the poverty line.
EASTERN PUERTO RICO PROMISE ZONE: ROOSEVELT ROADS
The first Promise Zone designation for Puerto Rico was designated in June of 2016 with the lead agency as the Local Redevelopment Authority of Roosevelt Roads. Implementation partners include the municipalities of Ceiba, Fajardo and Naguabo, and CBO Financial.
JIM’S LOCAL MARKET
CBO provided $3.5 million in New Markets Tax Credits funds to bring Jim’s Local Market, a 69,000 square foot fully-service grocery store providing healthy foods to a designated food desert in the southeast community corridor of Newport News, VA, an area with one of the Highest concentrations of poverty in the city.
RONALD MCDONALD HOUSE – FT. WORTH, TEXAS
CBO provided $4 million in New Markets Tax Credit financing to expand the Ronald McDonald House in Fort Worth, Texas, which provides services to families of terminally ill children in an area with 22.9% poverty. The funding increased the number of families served to 967 with a cumulative 14,009 nights of stays; an Estimated 80% of guests are Medicaid recipients.
THE SALVATION ARMY OF GREATER CLEVELAND: “THE CLEVELAND PLAN”
CBO assisted The Salvation Army in securing $18 million in NMTC funding for the expansion of four new and/or renovated community center facilities, all of which are severely distressed. More than 35% of the Cleveland population lives below the poverty level.
SUMMER TOWN ESTATES COMMERCIAL CENTER, DEDEDO, GUAM
CBO Financial secured $5 million in New Markets Tax Credits to complete the first NMTC transaction on the island of Guam. Summer Town Estates Commercial Center is a mixed-use community center providing quality-of-life services in the heart of an affordable housing development for low-income and disabled seniors in the northern village of Dededo, Guam.
CTA-CDE
CBO assisted CTA-CDE in securing the first Florida State NMTC allocation of $10 million, bringing considerable change to a severely distressed Census Tract.
COOS HISTORY MUSEUM, COOS BAY, OREGON
CBO provided $9 million of its New Markets Tax Credit allocation and secured an additional $8 million allocation from the State of Oregon, to relocate the Coos History Museum to the waterfront in severely distressed Coos Bay and expand the facility, revitalizing a deteriorating community devastated by unemployment 186% of the national average.
FLORECE HIDROPONIA, MOROVIS, PUERTO RICO
CBO Financial’s subsidiary, Community Development Funding, provided $3.6 million in New Markets Tax Credit financing for Florece Hidroponia, a 175,000 sf hydroponic tomato production facility in Puerto Rico, that is growing 40,000 tomato plants in a low income community with 64% poverty and 22% unemployment, on an island that imports approximately 90% of its food.
iLearn Academy Charter School
The iLearn Academy Charter School in Dededo is the first brand new public school to be built on Guam in over 10 years. ILearn will provide 900 K-5 students with programs to increase students’ Science, Technology, Engineering, and Math (STEM) skills by integrating technology into the curriculum. The 3.6-acre campus includes 30 classrooms, a large cafeteria/dining facility designed to allow on-site meal preparation with a focus on healthy food initiatives, and a full-size gymnasium. CBO Financial wrote the original NMTC Allocation Application for the Guam-based CDE that provided $20M in NMTCs for the $33M project, and coordinated closing.
HARLEM HEIGHTS CULTURAL ARTS & COMMUNITY CENTER, FORT MYERS, FL
CBO Financial took a leadership role in securing $5 million in New Market Tax Credits to complete the Harlem Heights Cultural Arts & Community Center after construction was halted due to lack of funds. The center provides services and programs to the Harlem Heights community in Fort Myers, FL, a severely distressed area where the average household income is less than $29,000 per year, and 36% of families live below the poverty level.
ST. MARGARET’S NURSING HOME, NEW ORLEANS, LA
CBO Financial’s subsidiary, Community Development Funding, provided $11.3 million in New Markets Tax Credits to St. Margaret’s Home, a non- profit nursing home for low-income elderly in the Lower 9th Ward of New Orleans, to build a new facility after the hospital suffered extensive flood damage from Hurricane Katrina. CBO is proud to have helped provide crucial services in this distressed community with a poverty rate of 36%, while saving 145 jobs.
VOLUNTEERS OF AMERICA, GREATER NEW YORK
CBO deployed $15 million in financing to construct VOA‘s new preschool facility dedicated to children with developmental delays and $8 million in financing for the renovation of their 63-bed domestic violence shelter.
FARESTART CULINARY ACADEMY
CBO provided $17 million in New Market Tax Credits and Historic Tax Credits to help this Seattle, Washington based nonprofit renovate and upgrade their building.
VOLUNTEERS OF AMERICA NATIONAL SERVICES
CBO‘s assistance netted $35 million in NMTC funding, applied to PACE centers; housing for the disadvantaged; and Social Services facilities that support low-income residents and Communities.
FARMINGTON FOODS
CBO contributed $1 million in state New Markets Tax Credit financing to a 20,000 square foot expansion of Farmington Foods, which specializes in portioning and packaging fresh pork and other quality meats in Forest Park, Illinois. Expanding this family-owned business creates additional local food supply and food-based jobs for the surrounding area.
NEIGHBORHOOD CENTERS, INC., BAKER-RIPLEY NEIGHBORHOOD CENTER
CBO Financial provided $2.9 million in NMTC financing for the new construction of the Baker-Ripley Neighborhood Center. Their area in Houston, TX was one of the city’s poorest, with a 26.7% poverty rate and 52.4% of benchmarked median family income.