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$10 Million U.S. Department of Education Grant for Charter Schools |
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TRF received a $10 million grant from the U.S. Department of Education
for charter
school facilities financing. The grant was one of only five
awarded nationwide through a competitive process. TRF was one of only
two organizations to receive the maximum award of $10 million. The
grant will go toward establishing a $50 million TRF Growth Fund for
Charter Schools. |
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TRF Finances Two Homeownership Choice Developments
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| TRF’s
Housing Group
has financed two
Homeownership Choice developments in Chester and
Pottstown, Pennsylvania. The Pennsylvania Housing Finance Agency
program encourages large-scale construction of for-sale
residential housing in distressed urban areas in the State. With
support of a $1.2 million loan from TRF, the 25-unit Crozer Hills
development in Chester was recently completed and new homeowners
are moving in. It was developed by Pennrose Properties in
partnership with the Delaware County Housing Coalition. Meanwhile
construction has begun on the 28-unit May Street Housing,
developed by Pennrose Properties and the Genesis Housing
Corporation. |
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| TRF opens Office in
Washington, DC |
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TRF is now officially in Washington, DC. The new office is the third
for TRF after Philadelphia and Baltimore. The office will support
TRF's activities in the area including its work with the Washington
Interfaith Network to create a $15 million revolving loan fund that
will provide predevelopment and acquisition financing to foster
revitalization in twelve low-income communities designated as
"Neighborhood Investment Target Areas" by the District of Columbia. |
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| Baltimore MVA Released |
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TRF has created its Market Value Analysis (MVA) for the City of
Baltimore. Developed in collaboration with the City’s Planning
Department and Baltimore Housing, the MVA is an update and marked
improvement on the city’s previous neighborhood typology in 2003,
which employed fewer variables at a less refined geographic
level. Once finalized, the Baltimore MVA serves as a foundation
to the City’s forthcoming Comprehensive Master Plan, the first to
be developed by Baltimore in three decades, and will help to guide
the targeted allocation of public resources.
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| TRF's 2005 Annual
Report is out.
Click here to download or call us at
215-574-5800 to have a copy mailed to you. |
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TRF Receives CDFI
Fund Award |
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TRF was among 48 organizations nationwide to receive awards
through the U.S. Department of the Treasury's CDFI Fund. A total
of $33 million was awarded as part of the CDFI Program's Financial
Assistance Component for fiscal year 2005. TRF received a $950,000
award which will leverage at least an additional $4 million in
private capital to further our mission. |
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SDF Finances New Wind Farm Project in Scranton, PA |
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TRF Sustainable Development
Fund
recently closed on the Bear Creek Wind Park project outside Scranton This
$5.75 million syndicated debt financing involved all five Pennsylvania
sustainable energy funds. The project is estimated to produce 73,374 MWh of
energy – enough to power 8130 homes annually. The project will use new 2.0
MW Gamesa wind turbines, the largest turbines ever to be erected on the east
coast. The image on the right shows early stages of construction at the
site. Learn more about
SDF's wind
financing. |
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