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CTA’s success in closing financings starts with an openness to work with nationally recognized investment banking and legal firms that approach the agency with worthwhile uses of tax-exempt bond proceeds.
Formed in 1999, the Capital Trust Agency (CTA) was created out of a need for responsive and innovative financing for various purposes that qualify under the rules of the Internal Revenue Service for tax-exempt financing. Affordable housing projects, airport facilities, hotel and convention developments promoting tourism, healthcare projects, and K-12 educational buildings, are among the allowable projects that have been able to use CTA to efficiently access the capital markets – and since its formation CTA has financed over $2.6 billion of these borrowings.
Capital Trust Agency Community Development Entity (CTA CDE) was formed in 2007 and was certified by the US Treasury as a Community Development Entity. This means that CTA CDE is able to apply for New Markets Tax Credits to entice private investment to projects in qualifying areas. By selling these tax credits CTA CDE is able to create flexible loans, sometimes up to 50% below market rates, for qualifying projects. CTA CDE has been able to finance deserving projects, such as the Glazer Children’s Museum in Tampa, Florida and a biofuel power facility in Berlin, New Hampshire. The $75 million of tax credits allocated to CTA CDE were used in conjunction with other community development entities to bring in an additional $180 million in private investment over a two-year period.
This total investment created thousands of construction jobs, hundreds of permanent jobs, and acted as a catalyst for further private investment into blighted areas. CTA CDE not only targets investment to deserving projects, but areas that are distressed and needing investment.
To learn more about CTA CDE and its capabilities, please visit www.ctacde.com.
Click on the project Series number to view full details on the Electronic Municipal Market Access (Emma) Database. Projects with an asterisk are not available on EMMA.
