Commonwealth Cornerstone Group Receives $80 Million of New Markets Tax Credits November 18, 2016 SHARE Email Facebook Twitter Press Release Harrisburg, PA – Governor Tom Wolf today announced that Commonwealth Cornerstone Group, a nonprofit community development entity (CDE) created by the Pennsylvania Housing Finance Agency, has secured $80 million in New Markets Tax Credit (NMTC) allocations. The tax credits are provided by the U.S. Department of the Treasury’s Community Development Financial Institutions Fund.This is the largest single award round since the New Markets Tax Credit Program was created in 2000. The number of minority-owned or controlled organizations receiving awards also nearly tripled from the previous award round.“To receive a New Markets Tax Credit award of this amount is tremendous,” said Governor Wolf. “These tax credits have proven their ability to attract private sector investment to distressed and low-income areas, providing much-needed jobs and economic stimulus. These will be put to use helping provide an economic spark for communities across the commonwealth.”CCG is one of 120 community development entities nationwide receiving an allocation of the total $7 billion in New Markets Tax Credits announced by the Treasury Department yesterday. Reflecting the tremendous competition for NMTCs, 238 CDEs had applied for tax credits; only 50 percent of the applicants received funding.With this newest allocation, CCG has received seven NMTC awards totaling $351 million, which it has used to fund 30 projects in the state. These NMTCs have stimulated the creation of more than 5,300 construction jobs and more than 4,200 permanent jobs.“This is the largest New Markets Tax Credit award ever provided to Commonwealth Cornerstone Group,” said Brian A. Hudson Sr., chairman of CCG and executive director and CEO of PHFA. “We appreciate the faith shown in us by the Treasury Department, and we’re excited about the positive impact this funding can have in communities large and small.”The goal of CCG is to use these tax credits to fund projects in key areas within communities to create business opportunities and spur economic revitalization. CCG will utilize the NMTC’s to provide loans and equity investments for business expansion, mixed-use development, and community facilities across Pennsylvania.Examples of past developments that have benefited from CCG’s investment of these tax credits include Bakery Square in Pittsburgh, the Stephen Klein Wellness Center in Philadelphia, and the Coal Street Community Facility in Wilkes-Barre, among others. More information about CCG and the developments it has funded is available on the Web.The New Markets Tax Credit Program, established by Congress in December 2000, permits individual and corporate taxpayers to receive a non-refundable tax credit against federal income taxes for making equity investments in vehicles known as community development entities. CDEs that receive the tax credit allocation authority under the program are domestic corporations or partnerships that provide loans, investments, or financial counseling in low-income urban and rural communities.The tax credit provided to the investor totals 39 percent of the cost of the investment and is claimed over a seven-year period. The CDEs, in turn, use the capital raised to make investments in low-income communities. Historically, for every dollar invested by the federal government, the NMTC program generates more than eight dollars in private investment.Today’s awards bring the total amount awarded through the New Markets Tax Credit Program to $50.5 billion. Since 2001, NMTCs have generated more than $42 billion in investments in low-income communities and businesses, resulting in the creation or retention of more than 500,000 jobs, and the construction or rehabilitation of more than 164 million square feet of commercial real estate.For more information about the U.S. Treasury Department’s Community Development Financial Institutions Fund, please visit: www.cdfifund.gov.Like Governor Tom Wolf on Facebook: Facebook.com/GovernorWolf
One of independent Jamaica’s earliest boxing champion George “Bunny” Grant, welterweight, died on November 1 at age 78. In 1962 as Jamaica celebrated its status as an independent nation, Grant gave the nation a gift when he won the gold medal in his class at the British Commonwealth games. For the next several years well ino te 1970s Grant kept the Jamaican flag flying high in boxing as he dominated and remained relevant in the international welterweight boxing class.Statement from Jamaican Minister of Sports It was only last year that Jamaica’s Minister of Culture, Gender, Entertainment and Sports, Olivia “Babsy” Grange announced the government’s plan to refurbish the home in which Grant resided. In her statement on Grant’s death, Grange said, “Long before Lennox Lewis, before Mike McCallum, before Shrimpy Clarke, there was Bunny Grant,,,,,We will forever remember his victory over Dave Charnley, the Commonwealth Lightweight Champion, at the National Stadium on August 4, 1962 — just two days before Jamaica’s Independence Day. Bunny’s passion and humility endeared him to all. We all followed and celebrated with him throughout his 19-year career. Each of his victories was a victory for the Jamaican people.”Statement from Grant’s familyOn Friday night grant’s family issued a statement expressing being “deeply distressed at the loss of our father and loved one. We are a large group of siblings, who though all born in Jamaica, we are residing in Jamaica and in various diaspora countries.”The statement continued: “Bunny Grant had a life-changing Stroke in early 2016. He succumbed to his illness after another suspected stroke. He was in KPH Hospital briefly and was discharged Wednesday 31 October. He sadly passed away 1 November 2018 at his home in Weymouth Drive where he lived lately with his son George Grant Jr. True sporting legendBunny Grant was and is to us, our father. He was a true sporting legend, character and loving dad. There is much that we could say about dad however as a family we want the People of Jamaica to know how much we appreciate the high esteem in which they have held our dad during his Legendary days when on the NIGHT OF THE 4 AUGUST 1962, he won the British Empire Welterweight Title from Dave Charnley, British Boxer at the National Stadium. So phenomenal was this fight that the great The Mighty Sparrow attended and wrote the hilarious Bunny Grant vs. Charley ‘ him too facety, him too fass…hit ‘im in him yeye, nyam him to rahtid’. This represented the same fight that Jamaica had with her Colonial rulers which was about to end LESS THAN ONE DAY LATER when at MIDNIGHT 5/08/62 the British Flag was lowered in the same National Stadium before Princess Margaret. The Jamaican Standard was raised over an INDEPENDENT JAMAICA, in the first seconds of 6/08/62 that effectively transformed Bunny Grant’s Title to the Commonwealth Welterweight Title – Jamaica’s first Sporting title as an Independent Island Nation. Jamaica went on to become one of the most formidable Countries in the World for the prowess of our Boxer, athletes, and musicians – before all was the Pioneers that include Bunny Grant, a son of Trench Town and a local hero to the end. Thankful for outpouring of loveIn this most difficult time in our family’s life, we are thankful for the outpouring of love and condolences from the People of Jamaica. We thank everyone expressing their condolences and respect to dad and his family in the TV, Newspapers, media and online forums. We are thankful for the life of our dad and the excellent contribution that our dad made as a Sporting pioneer. Thanks to both of Jamaican political parties Though known all around the world, dad remained a loyal son of Jamaica and Jamaica did much to honor and show respect to him. We acknowledge and express our thanks to both sides of the Political Parties for their contribution to dad’s wellbeing and the respect that was always shown to him. He was always very humbled and grateful for his place in the hearts of his Fans everywhere but particularly in his beloved Jamaica. Refused to leave Jamaican home When asked to travel abroad by his children, dad was resolute that ‘me naw goh noh way’, with his big trademark smile that we his children all share. As one of the original residents of the Weymouth Drive, Washington Gardens area, Bunny Grant loved his home and the area. He was a beloved resident and a permanent fixture from where he always refused to leave and where he died on the 1 November 2018.Bunny Grant Foundation of Sporting Excellence The Grant family is determined to continue Bunny Grant’s legacy by creating The Bunny Grant Foundation of Sporting Excellence. His excellence as a boxer was a means for Dad to raise himself from poverty to the pinnacle of sporting excellence. We would like to know that other children from Dad’s background will have the same chance to express their greatness. We thank you all individually but we send our own heartfelt condolences to all who respected Bunny Grant. We particularly thank the Office of Sports, the Boxing Board, NHT, KPH and all Organisations, Politicians, Friends and Fans and the Jamaicans remained respectful to Bunny Grant throughout the years of his Sporting glory and after his retirement to his recent illness and transition to our Ancestors. From the Family of the Original ‘Gentleman Champion’ of Alton Ellis’ DANCE CRASHER and the ‘Soul Lover’ by Clancy Eccles and sung by our dear Dad – We The Grant Clan salute you, thank you and return love and respect.
DIMITAR BERBATOV admitted he “f***ing loves” Arsenal pair Pierre-Emerick Aubameyang and Alexandre Lacazette – then warned his old club Spurs not to take the Gunners lightly.The Bulgarian, 38, spent two years at White Hart Lane between 2006 and 2008 before signing for Manchester United.4 Dimitar Berbatov admitted he cannot get enough of Arsenal strikers Pierre-Emerick Aubameyang and Alexandre LacazetteCredit: Getty – ContributorBut he put rivalries aside as he confessed his admiration for the strikers spearheading Unai Emery’s attack.Ahead of this Sunday’s North London derby, Berbatov told Betfair: “I f***ing love Aubameyang and Lacazette.”I like watching them play and their partnership is blossoming.”The way they play off each other and the goals they score, their quickness and sharpness is unbelievable.”I think nobody should take Arsenal lightly anyway because they are still Arsenal.”Okay, they haven’t won the Premier League for 15 years, but at some point a time will come when it will be their season.”It is too early to say if it will be this year but they are showing signs that they are performing well.”Despite his love for the Arsenal duo, though, Berbatov is clear who is the best Premier League player in his opinion.He added: “What I would give to have played with a player like Kevin De Bruyne, he is unbelievable.”He is one of the best, if not the best, in the world right now. Purely because of his vision, I think he is two or three steps ahead of the game.ACCA WITH LADBROKES Pick up a whole load of acca features to help you land the big one4Latest Arsenal newsLive BlogGunners newsArsenal news LIVE – Latest updates from the EmiratesCONT ME OUTArsenal’s Lacazette ‘not interested’ in joining Inter as Martinez’s replacementGossipINTERESTED PARTEYArsenal ‘most interested’ in Thomas Partey but coronavirus delays talksGUNNER GOLuiz ‘has to go’, Saliba ‘a concern’ and Mustafi not at right ‘level’, says KeownAT YOUR BOC AND CALLTorreira reveals ‘dream and desire’ to one day play for Boca JuniorsWRIGHTY’S OUTRAGEIan Wright says video of George Floyd’s death in US left him ‘drained’HOMECOMINGDavid Luiz confirms Benfica talks with Arsenal contract set to expire in JuneGossipBERN IT UPMan Utd, Arsenal and Chelsea on alert after Bernardeschi reveals Prem plans”Before the ball comes to him he knows where to play it, how to pass it, the exact speed, when he needs to hit it.”He is an unbelievable talent who is growing and developing every year and for me it is a pure joy to watch him.”Manchester City have one of the best midfielders in the world and when he is on top of his game they are unbelievable too.”4 Berbatov spent two years at Spurs, taking on Arsenal in plenty of feisty North London derbiesCredit: Times Newspapers Ltd4 Berbatov reckons Kevin De Bruyne is the best player in the Premier League and is among the best in the worldCredit: ReutersArsenal v Tottenham- Live stream, TV channel, kick-off time and betting odds for Premier League clash