AmCREF Advisory Board and Rebirth Capital Support Bayou Rebirth's Wetlands Education and Restoration Program

AmCREF Awarded $48.5MM in New Markets Tax Credits

Today, U.S. Treasury Deputy Secretary Robert M. Kimmitt and Treasury’s Community Development Financial Institutions (CDFI) Fund Director Donna J. Gambrell announced in Washington, DC, that American Community Renewable Energy Fund was one of 70 organizations selected to receive $3.5 billion in tax credits for use in low-income communities. Treasury awarded the credits under the 2008 round of the New Markets Tax Credit (NMTC) Program. The NMTC Program attracts private-sector capital investment into the nation’s urban and rural low-income areas to help stimulate economic growth and create jobs.

The American Community Renewable Energy Fund, LLC (AmCREF) received a $48.5 million NMTC allocation, which it will use to support startup and early-stage businesses in the Gulf South (AL, LA, MS, TX), with an emphasis on rural areas and those portions of the Gulf Opportunity Zone (GO Zone) that are still working to recover from Hurricanes Katrina and Rita.

AmCREF will offer below market-rate loans and investments to businesses and industries creating quality jobs that will help diversify and rebuild the Gulf South economy. These industries include renewable energy, technology, disaster recovery, and public safety and services infrastructure.

The NMTC award was AmCREF's third. Total NMTC allocations received by AmCREF now exceed $120 million.

"We are very proud to have received this award from the CDFI Fund," said AmCREF President Clifford Kenwood. "We appreciate the Treasury's vote of confidence in us, and we are looking forward to putting the credits to use helping establish and grow innovative businesses in the Gulf South."

Gulf South Rebirth Fund provides $6 million to innovative Post-Katrina development in New Orleans

930 Poydras to be first major project to “go vertical” since Katrina. The mixed-use project will be LEED certified, and will feature solar electric systems.

Rebirth Capital and Gulf South Finance enter solar equipment leasing

Building on their strengths in renewable energy financing and equipment leasing, Rebirth Capital and Gulf South Finance have created a fund to lease solar electric and solar hot water equipment to large and small businesses nationwide. This fund is a logical expansion of the Rebirth Capital Renewable Energy Fund, which makes tax credit equity investments in wind and solar projects nationwide.

Rebirth Capital and Gulf South Finance partner with South Coast Solar

Rebirth Capital and Gulf South Finance have partnered with South Coast Solar LLC to provide financing options for commercial solar projects. South Coast Solar is a locally-owned, New Orleans, Louisiana-based contractor specializing in the design and installation of high-performance solar powered systems. More information at www.southcoastsolar.com

Rebirth Capital and Gulf South Finance fund scholarship for minority student at Holy Cross

In June, the Gulf South Rebirth Fund closed a below-market rate loan to Holy Cross High School in New Orleans, LA. Now, Rebirth Capital, and its NMTC fund partner, Gulf South Finance have announced that they will fund a “full-ride” scholarship for a minority student from Orleans Parish for Holy Cross’ entire 8-year academic program (grades 5-12) at Holy Cross. UPDATE: August 2008 –  “Our” student has started his first year at Holy Cross. We wish him the best of luck in his studies.

AmCREF Advisory Board and Rebirth Capital supports University of LA Lafayette Solar Decathlon efforts

Through donations from AmCREF Advisory Board members and Rebirth Capital, a contribution of $6,750 was made to the University of Louisiana Lafayette School of Architecture and Design’s Solar Decathlon project, BeauSoleil Louisiana Solar Home. The BeauSoleil Louisiana Solar Home will be entered into the 2009 Dept. of Energy’s Solar Decathlon competition in Washington, DC. The Solar Decathlon is a worldwide competition between 20 colleges and universities to design, build, and operate the most attractive and energy-efficient solar-powered home. More at www.beausoleilhome.org

Gulf South Rebirth Fund closes $5 million in below-market rate loans to Holy Cross School

The Gulf South Rebirth Fund has provided $5 million of below-market rate NMTC-enhanced loans to the Holy Cross School, a 127 year-old non-Archdiocesan parochial school whose former facilities in New Orleans’ Lower 9th Ward were severely damaged by Hurricane Katrina. Holy Cross currently serves 520 students in grades 5 through 12. Their original campus was inundated by floodwaters in Katrina, and they are rebuilding in the nearby Gentilly neighborhood of New Orleans. The new school will be the first major investment made in that community since Hurricane Katrina. See construction progress at www.holycrosstigers.com

Gulf South Rebirth Fund provides an additional $700,000 to Stinson Petroleum

Funds will further help Stinson, a rural, family-owned fuel distributor deal with higher fuel costs and expand into biofuels.

Gulf South Rebirth Fund provides $1.4 million to Laurel, MS-based Stinson Petroleum

Funds will help Stinson, a rural, family-owned fuel distributor deal with higher fuel costs and expand into biofuels.

Gulf South Rebirth Fund provides $12 million to Biloxi Hotel project using innovative, hurricane-resistant construction

The South Beach Development, LLC Hotel represents the largest non-gaming, private investment on the Mississippi Gulf Coast since Hurricane Katrina. The project will utilize state of the art building technologies to help protect against future storms. The project is located in a low-income community that suffered significant damage from the storm surge and will serve as an important symbol that major investment in the region has begun, influencing others to follow.

AmCREF provides $1 million in start-up capital to innovative waste-to-energy project in New Orleans

Sun Energy Group is a seed-stage, minority-owned renewable energy company that is developing the Louisiana Gasification Facility (LGF), an innovative, green-certified, waste-to-energy power plant in New Orleans, LA. AmCREF’s funds will be used for predevelopment and startup costs. See more (coming soon) at www.sunenergygrp.com

AmCREF provides small business loan to biofuel company located in a low-income community

Roxie Recycling (formerly New Orleans Biofuel Initiative) is a small, startup business that collects waste cooking grease from New Orleans area restaurants and provides it to small, local biodiesel manufacturers. See more at www.roxierecycling.com

Rebirth Capital Renewable Energy Fund provides $5.3 million to community wind energy project in IL

GSG 3 is a 2.5MW single turbine community wind project. The project is one of the first to use Clipper Windpower turbines. Rebirth Capital provided renewable energy tax credit equity (PTCs) for the project.

AmCREF receives second New Markets Tax Credit allocation

$30 million allocation will be used to continue AmCREF’s Gulf Coast recovery efforts, and to support renewable energy and cleantech companies. Total NMTC allocations received to date total $72 million.

Treasury Deputy Secretary Kimmitt and CDFI Fund Director Reed Announce $3.9 Billion in Tax Credits for Low-Income Community Investment

NEW ORLEANS - U.S. Treasury Deputy Secretary Robert Kimmitt and Treasury’s Community Development Financial Institutions (CDFI) Fund Director Kimberly Reed announced today in New Orleans, La., the 61 organizations selected to receive $3.9 billion in tax credits for use in low-income communities. Treasury awarded the credits under the 2007 round of the New Markets Tax Credit (NMTC) Program.

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Gulf South Rebirth Fund provides $5 million to establish TicketSwitch in New Orleans, LA

TicketSwitch is a technology company which will use the most advanced ticketing information back-end systems to assist websites with booking travel and tourism packages. See more at www.ticketswitchusa.com

International Ticketing Company Chooses Tech Park To Enter United States Market

BATON ROUGE – Baton Rouge and the Louisiana Technology Park beat out several other locations across the United States to become the home of an international ticketing management system called Enta Campus.

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AmCREF Advisory Board supports “Renew Our Music” efforts

AmCREF and its Advisory Board donated $2,500 to the grass-roots organization, Renew Our Music Fund. The mission of the Renew Our Music Fund is to preserve New Orleans’ cultural traditions by providing assistance to the individuals and institutions that will carry them forward. Renew Our Music offers grants to leaders in the music community, extends financial assistance to New Orleans musicians of all genres, and helps connect musicians with instruments and gigs in order to revive, uphold and perpetuate New Orleans’ unique culture. The Renew Our Music Fund has helped over 1,600 musicians. More at www.renewourmusic.org

Gulf South Rebirth Fund provides $6.3 million to establish Enta USA in Baton Rouge, LA

Enta USA will provide event ticketing services and associated IT procurement solutions to arenas, performing arts and theatrical venues. See more at www.entausa.com

Gulf South Rebirth Fund provides $5.1 million to establish Enta Campus in Baton Rouge, LA

Enta Campus, along with its affiliate Enta USA, is the first major startup technology company to locate in the GO Zone post-Katrina. Headquartered in a severely distressed low-income community in Baton Rouge, LA, Enta Campus will provide lower cost event ticketing services to colleges and universities nationwide. See more at www.entacampus.com