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$23 Million in New Markets Tax Credit Financing

Volunteers of America
Greater New York

Social Service Programs that Support and Empower Those in Need

Volunteers of America Greater New York Community Development

Volunteers of America is dedicated to helping those in need through social service programs that support and empower them to live safe, healthy and productive lives.

Founded in 1896, Volunteers of America (VOA) provides help to those in need while creating opportunities for people to serve others nationwide. Through their thousands of human service programs, including housing and healthcare, VOA helps more than 2 million people in over 400 communities in 46 states as well as the District of Columbia and Puerto Rico.

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VOA is to be one of the world’s largest and most comprehensive nonprofit human services organizations, with 54 affiliates in 300 cities across the country. As an affiliated nonprofit agency of VOA, Volunteers of America - Greater New York, Inc. (VOA-GNY) is is dedicated to restoring hope, dignity and self-reliance to individuals and families in need.

Founded in New York City more than 100 years ago, VOA-GNY provides help to those in need while creating opportunities for people to serve others. They currently operate over 80 in the metropolitan New York area, Northern New Jersey and Connecticut. Services range from transitional shelters for families and individuals who are homeless to schools for children with developmental delays; from group homes for youth to in-home services for older adults trying to avoid institutionalization.

Bronx Early Learning Center

Programs for preschoolers with developmental delays in the Bronx are in very high demand. Many of the children come to the center unable to speak or walk, capable of performing very few activities typical for children their age. Two-thirds of the 260 children attending the Bronx Early Learning Center have developmental delays associated with autism, Down syndrome, attention deficit disorder and neurological and emotional issues, some associated with lead poisoning and fetal alcohol syndrome.

The existing Bronx school was in a leased building that was overcrowded. In 2006, CBO Financial created the financing plan to relocate the school into a building owned by VOA-GNY to house an expanded program in better-suited, customized facilities. CBO secured $15 million in NMTC allocation and senior financing for the new campus, which is located in a severely distressed area with a 50% poverty rate.

The Bronx Early Learning Center in its new home now prepares hundreds of preschoolers for success in kindergarten while helping to revitalize a blighted community. After graduating from the program, children leave transformed. Not just walking, but running; not just talking, but interacting in meaningful ways; and not just feeding themselves and putting on their own coats, but helping other children with theirs.

Liberty House

Volunteers of America offers a safe refuge for families and individuals recovering from domestic violence. In 2008, VOA-GNY approachedCBO once again for project financing help, which resulted in $8 million in NMTC allocations and senior financing to fund the construction of a new domestic violence shelter in New York City. The 63-bed shelter, located in an extensively renovated circa-1920s building in Harlem, offers medical and mental health services, crisis intervention, job and housing assistance, and legal advocacy.

The children benefit from interventions appropriate for their age and specific situations. Both children and adults are taught the skills they need to recognize, avoid and respond to violence.

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Because of CBO’s successful ongoing partnership with VOA-GNY, our relationship with VOA affiliate agencies has expanded to include Volunteers of America-Chesapeake (VOAC) and also Volunteers of America National Services (VOANS). CBO is currently working closely with both organizations to secure project financing for a variety of projects through our NMTC placement services program.

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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FARMINGTON FOODS

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EASTERN PUERTO RICO PROMISE ZONE: ROOSEVELT ROADS

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JIM’S LOCAL MARKET

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RONALD MCDONALD HOUSE – FT. WORTH, TEXAS

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THE SALVATION ARMY OF GREATER CLEVELAND: “THE CLEVELAND PLAN”

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SUMMER TOWN ESTATES COMMERCIAL CENTER, DEDEDO, GUAM

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RAY AND JOAN KROC CENTER, CAMDEN, NEW JERSEY

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COOS HISTORY MUSEUM, COOS BAY, OREGON

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FLORECE HIDROPONIA, MOROVIS, PUERTO RICO

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NEIGHBORHOOD CENTERS, INC., BAKER-RIPLEY NEIGHBORHOOD CENTER

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HARLEM HEIGHTS CULTURAL ARTS & COMMUNITY CENTER, FORT MYERS, FL

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ST. MARGARET’S NURSING HOME, NEW ORLEANS, LA

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VOLUNTEERS OF AMERICA, GREATER NEW YORK

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FARESTART CULINARY ACADEMY

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VOLUNTEERS OF AMERICA NATIONAL SERVICES

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CTA-CDE

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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
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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