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$18 Million in New Markets Tax Credit Financing

The Salvation Army Of Greater Cleveland:
"The Cleveland Plan”

The Salvation Army Serves Communties During Times of Crisis

The Cleveland Plan Community Development Project

The Salvation Army is known for integrity. In today’s world, this is an immeasurable value, particularly when related to children’s programs. Many are introduced to The Salvation Army during a time of crisis such as hunger, joblessness, homelessness, and chemical dependency. While The Salvation Army helps to meet these immediate needs, they also provide a wide array of wrap-around programs such as tutoring, job training, mentoring, counseling, camps as well as other community-driven activities.

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Cleveland is a city of over 396,000 people, 89,000 families and 97,000 children and youth. More than 35 percent of the population lives below the poverty level. The majority of these people need or currently rely on services provided by The Salvation Army. In recent years, two of The Salvation Army’s centers in Cleveland have reached maximum capacity and as a result have been unable to fully meet the growing demand for help. Expansions are required for these centers to evolve with their neighborhoods to offer expanded services or introduce new programs to meet an unmet demand in their neighborhoods.

In 2012 The Salvation Army of Greater Cleveland embarked on a major enhancement of its mission of ministering to the physical, spiritual educational and emotional needs to the communities they serve.

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The comprehensive program planning study identified the following facilities in the direst need of additional programming:

  • Temple Corps: Construct new, expanded center on The Salvation Army owned property adjacent to current facility that will house a choice food pantry, after-school tutoring, music and arts program, day camp, and community recreation programs.
  • West Park Corps: Expand first floor of current building, add second floor, and renovate existing space to accommodate expansion that will consist of a food pantry, a hot meal delivery program, senior center, after-school tutoring, and music and arts programs. (2+ new jobs)
  • Zelma George Emergency Family Shelter: Construct a new family shelter on The Salvation Army owned property adjacent to the current facility to house both homeless families and adult human trafficking victims, create a safe outdoor play area for children and expand program services to include educational programs, substance abuse and mental health counseling, also allowing the current facility to renovate areas and expand programs in the space vacated by the family shelter (12 new jobs)
  • East Cleveland Corps: East Cleveland is the poorest city in the state and borders the Cleveland city limits. The Salvation Army is relocating a corps from within the city of Cleveland to East Cleveland. Financing will establish a new facility on land adjacent to a public transit station that will offer utility assistance, a senior center, a choice food pantry, after school tutoring, music and arts programs, and community recreation programs (12 new jobs)

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.
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iLearn Academy Charter School

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

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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
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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
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 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
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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