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Portfolio Highlights: Tax Credit Syndications

Portfolio Highlights: Tax Credit Syndications

Helping connect organizations with customized investment opportunities.

In our role as a federal and state tax credit syndicator, U.S. Bancorp Community Development Corporation (USBCDC) has helped numerous investors support the social and environmental initiatives of their choice and enjoy favorable financial returns.

Partnering together with UnitedHealth Group to Expand Affordable Housing Opportunities in Four States

UnitedHealth Group has partnered with U.S. Bank to provide more than $35 million of equity to support the new construction and rehabilitation of four affordable housing communities in Colorado, Ohio, Minnesota and Tennessee. As part of the investment program, UnitedHealthcare is providing the equity for the developments with U.S. Bank facilitating the use of Low-Income Housing Tax Credits (LIHTC) and providing additional financing.

Development of the properties is expected to create more than 250 housing units for those in need and spark economic growth and job creation in the those communities.

The collaboration between UnitedHealth Group and U.S. Bank began in 2012 and brings together one of the nation’s top health and well-being companies and one of the nation’s leading banking institutions to provide innovative financing for community developments using federally sponsored tax credit programs.

The $35 million investment by UnitedHealth Group is part of its Affordable Housing Investment Program, which has provided more than $100 million in financing for community developments throughout the United States.

Collaborating with Google on an $86 Million Affordable Housing Tax Credit Fund

In 2010, USBCDC structured an $86 million Low-Income Housing Tax Credit (LIHTC) fund for Google. The fund provided a major source of financing for the construction and operation of 480 affordable rental-housing units for low-income families and senior citizens in California, Illinois, Iowa, Minnesota and Wisconsin.

"In recent years, there has been a void in affordable housing investment,” said Brent Callinicos, Google’s vice president and treasurer. "Our investment with USBCDC allows us to further our goal of providing relief to people who otherwise may not have access to quality housing."

Google, a relatively new investor in 2010, provided capital to the industry at a time when many developers of low-income housing projects were facing significant financial gaps. Their commitment to affordable housing continued an expansion of the affordable housing investor base beyond traditional investors, such as banks and insurance companies.

Partnering with American Express to Invest $74 Million in Job Growth

In 2011, American Express and USBCDC joined forces to spur business growth in economically challenged communities and provide jobs for at least 3,000 workers.

USBCDC structured a $74 million New Markets Tax Credit (NMTC) fund for American Express that will provide capital for the construction and operation of 11 real estate developments and operating businesses in Alaska, Arizona, California, Louisiana, Oregon, Utah and Washington. The projects include the construction of a community center and new school, an upgrade of a manufacturing and industrial plant and the development of a mixed-use commercial and retail center.

Our partnership with American Express, another leader in community development, fits perfectly with our mission to invest in projects in distressed communities that provide immediate jobs and serve as catalysts for small business growth in the future. The projects are expected to produce more than 1,600 construction jobs, increase the sustainability of 100 jobs and create more than 1,300 full-time positions.

The Basics of Syndications

We connect those who want to invest in community development projects with tax credit funds that meet a range of needs. Here’s how it works.

A Dedicated Team

Our experienced team works closely with investors to identify funds that meet a range of needs.

Equal Housing Lender Equal Housing Lender

U.S. Bank and its representatives do not provide tax or legal advice. Each tax and financial situation is unique. Consult your tax and/or legal advisor for advice and information concerning a particular situation.

U.S. Bank is not responsible for and does not guarantee the products, services or performance of its affiliates and third parties.

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