TECHNICAL ASSISTANCE CORPORATION

PREDEVELOPMENT AND PERMANENT FINANCING: MOST NONPROFIT COMMUNITY DEVELOPMENT ORGANIZATIONS DO NOT HAVE THE ABILITY TO PAY THE COSTS NECESSARY TO GET A DEVELOPMENT PROJECT TO THE POINT WHERE CONVENTIONAL CONSTRUCTION FINANCING BECOMES AVAILABLE. TO GET REDEVELOPMENT PROJECTS STARTED IN ST. LOUIS' MOST DISTRESSED NEIGHBORHOODS, TECHNICAL ASSISTANCE CORPORATION ("TAC") OFFERS PREDEVELOPMENT LOANS TO NONPROFIT NEIGHBORHOOD ORGANIZATIONS, ENABLING THEM TO START PLANNING AND BUILDING TOWARD A VISION OF IMPROVED NEIGHBORHOOD VITALITY. THESE LOANS ARE OFFERED AT BELOW-MARKET INTEREST RATES AND PROVIDE A "FIRST-IN" SOURCE OF FINANCING, ACCELERATING THE TIME FROM CONCEPT TO CONSTRUCTION AND ABSORBING THE RISK THAT CANNOT BE ACCEPTED BY CONVENTIONAL LENDERS. TAC ALSO RECEIVES TAX CREDIT GENERATED CHARITABLE CONTRIBUTIONS THAT IT USES TO MAKE SUBORDINATE LOANS AND EQUITY INVESTMENTS IN AFFORDABLE HOUSING DEVELOPMENTS UNDERTAKEN EITHER BY ITS OWN AFFILIATES OR UNRELATED THIRD PARTY AFFORDABLE HOUSING DEVELOPERS. TAC HAS PROVIDED OVER $35 MILLION IN LOANS FOR THE DEVELOPMENT OF OVER 3,500 AFFORDABLE HOMES IN THE ST. LOUIS AREAS.RISE COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) WAS LAUNCHED IN JULY 2020 TO PROVIDE LOANS AND SERVICES TO SMALL CONTRACTORS, DEVELOPERS, AND BUSINESSES THAT ARE UNDERSERVED BY TRADITIONAL BANKS. RISE CDFI SUPPORTS TAC'S EXISTING WORK IN SOME OF THE REGION'S MOST DISINVESTED COMMUNITIES WHERE APPRAISAL GAPS PREVENT TRADITIONAL LENDERS FROM DOING BUSINESS, AND A LACK OF COORDINATED COMMUNITY-DRIVEN PLANS AND INVESTMENT STRATEGIES HAVE PERPETUATED INEFFICIENT AND INSUFFICIENT DEVELOPMENT. THE INTENTION OF THE CDFI IS TO SUPPORT ECONOMICALLY PRODUCTIVE ACTIVITIES WITHIN THE LOCAL COMMUNITY IN ORDER TO FOSTER ECONOMIC DEVELOPMENT, IMPROVE THE FINANCIAL WELL-BEING OF THE LOCAL COMMUNITY, AND, IN PARTICULAR, THE FINANCIAL WELL-BEING OF THE INVESTMENT AREA AND THE LOW-INCOME PEOPLE LIVING AND WORKING IN THE LOCAL COMMUNITY.