summer-town-estates-commercial-center-dededo-guam-disabled-individuals-families-nmtc-s-768x514
$5 Million in New Markets Tax Credit Financing

Summer Town Estates Commercial Center
Dededo, Guam

The Summer Town Estates Commercial Center offers commercial goods and social services that improve the quality of life  in Dededo.

Summer Town Estates Commercial Center Development Project

The US territory of Guam is a small island with a population problem, particularly in the northern village of Dededo. The average annual gross income for a person on Guam is just under $25,000; while the average annual household, typically consisting of 5 people, experiences a gross income of $49,000. Guam, like the rest of the nation, is undergoing a demographic revolution. By the year 2020, there will be approximately 32,000 senior citizens (ages 60 and older) on Guam, nearly double the current senior population.

summer-town-estates-commercial-center-dededo-guam-disabled-families-3-400x365

There is a distinct shortage of affordable housing on Guam, with much of the low-income housing properties in disrepair. There is an even greater shortage of community-based programs and recreational activities for seniors and low-income families. CBO Financial funded $5.0M in New Markets Tax Credit financing for the Summer Town Estates Commercial Center. The Center offers commercial goods and social services that improve the quality of life for low-income seniors, disabled individuals, and families residing in a surrounding low income housing development and the local community. The mixed-use facility consists of a 5,200 square foot neighborhood shopping center and laundromat, a 3,500 square foot restaurant and a 9,000 square foot community event center.

Guam has an island-wide poverty rate of 23%, and 93% of Guamanians are minorities. This project created 45 construction jobs and 23 permanent jobs related to the retail, commercial and community activities to be located in the Center. Indirect job creation is also realized through the numerous workforce training programs made available to both residents as well as Guam Community College students.

The project sponsor and owner is Core Tech International (CTI). Since inception in 1991 CTI has grown from humble beginnings to become Guam’s 2nd largest private employer as a diversified company and is Guam’s largest affordable housing developer, non-bank financing firm, property management firm and contracting company. CTI was instrumental in helping the local government access the Low Income Housing Tax Credit (LIHTC) program for the first time in 2005, and continues its efforts to bring outside resources to Guam.

summer-town-estates-commercial-center-dededo-guam-disabled-individuals-families-nmtc-500x247

CBO Financial is proud to have taken a leadership role in funding this worthy project, which is the first New Markets Tax Credit transaction on the island of Guam.

MILLIONS OF DOLLARS. IMMEASURABLE RETURNS.

These are the real success stories of how CBO Financial has been able to help its clients obtain funding for life-changing projects.
ilearn-academy-400x300

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.
Read More
farmington-foods-400x300

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.
Read More
roosevelt-roads-400x300

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.
Read More
jims-local-market-400x300

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.
Read More
ronald-mcdonald-house-ft-worth-tx-400x300

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.
Read More
salvation-army-greater-cleveland-400x300

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.
Read More
summer-town-estates-400x300

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.
Read More
salvation-army-ray-joan-kroc-400x300

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.
Read More
coos-bay-museum-400x300

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.
Read More
florece-hidroponia-puerto-rico-400x300

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.
Read More
baker-ripley-house-400x300

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.
Read More
harlem-heights-community-center-400x300

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.
Read More
st-margarets-at-mercy-new-orleans-400x300

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.
Read More
voagny-bronx-400x300

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.
Read More
farestart-seattle-400x300

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.
Read More
voans-pace-centers-400x300

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.
Read More
cta-maritime-park-florida-400x300

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.
Read More

Does Your Project Qualify for Low-Cost Financing or New Markets Tax Credits?

Reach out to our specialists to discuss how we can work together.
Get a Free Project Analysis

Other Financing Services

CBO Financial provides a range of services to help plan and finance projects located in low income communities, including below-market loans and subsidies.

Project Planning And Financial Modeling

Start a project right by identifying anticipated predevelopment expenses, project budget, sources/uses of funds, cash flow forecasts and debt service coverage.
Project Planning And Financial Modeling

Financing Request Package Development

Developing a comprehensive Financing Request Package (FRP) is an important first step in securing financing and/or project subsidies for community development.
Financing Request Package Development

US Department of Agriculture Programs (USDA)

The USDA offers various economic development projects; two of which are beneficial to community development projects are the Community Facilities and Rural Utilities Programs.
US Department of Agriculture Programs (USDA)

HISTORIC TAX CREDIT APPLICATION Assistance

CBO Financial can assist and take a leadership role in developing both Part I and Part II federal and state Historic Tax Credit applications.
HISTORIC TAX CREDIT APPLICATION Assistance

RACP APPLICATION PREPARATION Assistance

Redevelopment Assistance Capital Program is intended for regional economic, cultural, civic, recreational, and historical improvement in Pennsylvania.
PENNSYLVANIA RACP APPLICATION PREPARATION

Puerto Rico Financing Programs Assistance

Puerto Rico financing programs offers many community development opportunities for mainland investors and local business owners.
Puerto Rico Financing Programs Assistance

You see challenges. We see possibilities.
Your community sees change.

Established in 1999, CBO Financial is a financial consulting firm that specializes in helping businesses secure funding for development projects in the nation’s most distressed communities. Our experts understand how to present economic, environmental, and societal benefits to public and private organizations so your project receives the funding it needs to move forward quickly and reasonably. A CBO Financial subsidiary, Community Development Funding, LLC, has received six awards under the federal New Markets Tax Credit program totaling $150M. In addition the team has taken a leadership role in securing 18 awards for clients totaling over $400M.
Our Services
community-development-project-funding

The funding is out there

CBO can be your access point for a variety of flexible financing sources including gap financing using New Markets Tax Credits, Historic Tax Credits, Tourism Tax Credits, Property Assessed Financing, Opportunity Zone Funds and others.
Programs
community-development-project-financing

 a Significant Impact

CBO is on a mission to help elevate the lives of people living in distressed communities by providing flexible, below-market gap financing to high-impact projects that cannot otherwise move forward. Does your project qualify for financing?
Team
low-income-community-development-project-financing

Million-dollar stories

The CBO team has funded over $1 billion in projects for local and national nonprofits, for-profit developers, and municipal agencies. Our team can help you find the low-cost financing or new market tax credits needed for your projects.
Projects

Does Your Project Qualify for Low-Cost Financing or New Markets Tax Credits?

Reach out to our specialists to discuss how we can work together.
Get a Free Project Analysis