Category Archives: New Markets Tax Credit News

E-Waste Mining Center Digs Up NMTCs


Download pdf: E-Waste Mining Center Digs Up NMTCs

BlueOakA new electronic waste (e-waste) recycling center under construction in Osceola, Ark., has project partners calling it “the place where the Silicon Valley meets the Mississippi Delta.” Developed by California-based BlueOak Resources Inc. using federal new markets tax credit (NMTC) financing, the BlueOak Arkansas facility will use a high-temperature furnace to extract precious metals found in electronics, such as circuit boards and cell phones.

Priv Bradoo, BlueOak’s co-founder and CEO, said that the concentration of precious metals in electronic scrap, such as printed circuit boards, is more than 100 times greater than precious metals in the same amount of virgin ore. With more than 50 million tons of e-waste being generated around the world every year, she said people have a responsibility to recognize these waste streams as a valuable resource. Bradoo said the Osceola facility will be the first of its kind in the United States dedicated to recovering high-value metals from electronic scrap. Once BlueOak begins operations at the end of 2015, it will be able to process at least 15 million pounds of e-waste annually with technology designed to be both efficient and environmentally friendly.

“If the BlueOak technology works, it will not only lessen environmental degradation resulting from mining, it will also dramatically lower the amount of harmful pollutants emitted from current recycling processes, as well as drastically reduce the toxic exposure currently confronted by individuals involved in e-waste recycling around the globe–many of whom are already suffering from living in deep poverty,” said Deborah La Franchi, president of National New Markets Funds, which was one of BlueOak’s NMTC allocatees. Continue reading

CDFI Fund Launches New Mapping System, Helps CDEs Transition

 CDFI Fund CIMS Mapping ToolThe Community Development Financial Institutions (CDFI) Fund today launched the latest version of its CDFI Information Mapping System (CIMS3). The web-based tool allows organizations interested in getting certified as a CDFI or community development entity (CDE), or those interested in applying to one of the CDFI Fund’s award programs, to plot their eligible service areas and investments. Continue reading

Developers Mark Opening of Mann on Main in Little Rock

Mann on Main

Doyle Rogers Co. and Moses Tucker Real Estate on Thursday marked the grand opening of its Mann on Main mixed-use building, the fully restored and redeveloped former Blass Department Store at Main and 4th streets in downtown Little Rock.

The $22 million project includes the Mann Building, a 90,000-SF office building at the corner of 4th and Main; the Mann Lofts, a 30,000-SF multifamily residential component; the ground floor retail of both buildings; and a four-level parking garage at the corner of Louisiana and 4th streets. Continue reading

$22 million Main Street redevelopment project dedicated

Mann on Main

A crowd is gathered for the dedication of the Mann on Main, a $22 million effort to redevelop the seven-story structure at left and the three-story adjoining annex to the right.

A $22 million redevelopment of a historic structure on Little Rock’s Main Street was formally dedicated Thursday, the latest effort in an ongoing process to revitalize the once active downtown stretch.

The Mann on Main project in the former Blass Department Store at Fourth and Main streets was opened during a ceremony that featured Gov. Mike Beebe and Little Rock Mayor Mark Stodola, who both stressed the importance of bringing life back to the once-thriving area. It’s been plagued in more recent years by vacant structures and boarded-up windows.

“Main Street was and is the most important street in the state of Arkansas,” Stodola said. “It’s a crossroads to the capital. It’s the crossroads to the river. It’s the crossroads to the excitement and activity that downtowns bring to a community.” Continue reading

Mann on Main Project Opens Today

Mann on MainDoyle Rogers Company and Moses Tucker Real Estate will be officially opening the doors of its Mann on Main mixed use (office/residential/retail) asset, the fully restored and redeveloped former Blass Department Store at Main & 4th Streets, Downtown Little Rock, event begins at 10:00 am, Thursday, September 5th. Leaders from the project and executives of the firm will be in attendance, as well as the structure’s many office tenants and Arkansas Governor Michael Beebe, Mayor Mark Stodola, and Ms. Anne Laidlaw will be guests of honor.

Joint venture development partners, Moses Tucker Real Estate, Inc. and Doyle Rogers Company are announcing the completion of Mann on Main (Project), a major, mixed use redevelopment project on Little Rock’s historic Main Street. The development was a collaboration of efforts and resources of the two established commercial real estate groups, both of which have long affected the skyline of downtown Little Rock and both catalysts for downtown growth and reinvestment. The property consists of the Mann Building, a 90,000 square foot office building at the corner of 4th and Main Streets, Mann Lofts, a 30,000 square foot multifamily residential component, theground floor retail of both buildings, and a 4 level parking garage at the corner of Louisiana and 4th Streets. Continue reading

Heartland Renaissance Fund Names Becka Webb Vice President

Becka WebbHeartland Renaissance Fund, an affiliate of The Arkansas Capital Corporation Group, is pleased to name Becka Webb as vice president. Webb will focus on implementing state and federal New Markets Tax Credit (NMTC) allocations through Heartland. Heartland has $200 million in federal and a recently announced $19 million in state NMTC allocations.

“Becka will be focused on working with clients on the implementation of New Markets Tax Credit allocations in disadvantaged areas of the state,” said Sam Walls III, president, Heartland Renaissance Fund. “Her financial background, along with her experience in lending, is a great fit for our organization, which is focused on job creation and helping businesses expand in Arkansas.” Continue reading