2023-11-10T14:30:11-06:00 2022-12-31 221478099 COHNREZNICK LLP 1301 AVENUE OF THE AMERICAS NEW YORK NY 10019 990 2022-01-01 911884698 NDC HOUSING & ECONOMIC DEVELOPMENT CORPORATION - GROUP RETURN NDCH 2126821106 633 THIRD AVE 19J NEW YORK NY 10017 DANIEL MARSH III PRESIDENT 2126821106 2023-11-10 1 DANIEL MARSH III 999009999 0 LORI ROTHE YOKOBOSKY CPA P01273422 2122970400 2023-11-04 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z X DANIEL MARSH III 633 THIRD AVE 19J NEW YORK NY 10017 118144512 1 1 9219 X WWW.GROWAMERICA.ORG X 1988 VA NDC HOUSING & ECONOMIC DEVELOPMENT CORPORATION'S MISSION IS TO CREATE (CONT. ON SCHEDULE O) QUALITY AFFORDABLE HOUSING FOR THE DISADVANTAGED, TO STIMULATE ECONOMIC DEVELOPMENT AND CREATE JOBS IN LOW INCOME AREAS AND TO ERECT PUBLIC BUILDINGS TO LESSEN THE BURDENS OF GOVERNMENT AND PROMOTE SOCIAL WELFARE. 28 17 0 17 0 0 42657950 31207485 76639809 75619828 -7058 -2515552 10538681 11317199 129829382 115628960 4759085 662000 0 0 0 0 0 0 0 99361273 100076505 104120358 100738505 25709024 14890455 914444452 906903124 814805317 791875336 99639135 115027788 X NDC HOUSING AND ECONOMIC DEVELOPMENT CORPORATION WAS ORGANIZED FOR THE FOLLOWING CHARITABLE PURPOSES:A. TO CONSTRUCT NEW LOW INCOME HOUSING AND TO DEVELOP, MANAGE, OPERATE, PROMOTE, FUND, AND SUPPORT EXISTING LOW (CONT. ON SCHEDULE O) 0 0 79841861 75306466 LESSENING THE BURDENS OF GOVERNMENT: HEDC ALSO PARTNERS WITH UNITS OF LOCAL GOVERNMENT TO ERECT AND MAINTAIN PUBLIC BUILDINGS, MONUMENTS, AND FACILITIES; AND TO PROMOTE SOCIAL WELFARE. THE UNDERLYING MISSION IS TO "LESSEN THE BURDEN OF GOVERNMENT". IN TOTAL, HEDC HAS DEVELOPED AND FINANCED MORE THAN THIRTY-ONE PROPERTIES AT A COST OF MORE THAN $2.5 BILLION ON BEHALF OF LOCAL GOVERNMENT. PROJECTS INCLUDE PUBLIC BUILDINGS AND CITY HALLS, EDUCATIONAL AND MEDICAL RESEARCH FACILITIES, STUDENT HOUSING, PARKING FACILITIES AND OTHER PUBLIC INFRASTRUCTURE. (CONT. SEE SCHEDULE O) DURING 2022, IN ADDITION TO PROVIDING PRE-DEVELOPMENT SERVICES TO SELECT CLIENTS HEDC BEGAN PRE-CONSTRUCTION WORK ON 1 PROJECT AS THE OWNER/DEVELOPER UNDER THE MISSION OF LESSENING THE BURDENS OF GOVERNMENT, AND ANOTHER WHERE IT WILL SERVE AS THE OWNER/DEVELOPER. THE FIRST IS A PARKING GARAGE FOR THE TOWN OF RIVERHEAD, NEW YORK AND IT IS EXPECTED TO CLOSING FINANCING AND BEGIN CONSTRUCTION IN 2024. THE SECOND PROJECT IS A MIXED USE MIXED IN THE CITY OF HARTFORD WHICH WILL PROVIDE SPACE FOR THE CITY'S DEPARTMENT OF HEALTH AS WELL AS SOME ADDITIONAL RETAIL USES. THE TRANSACTION WILL HAVE A FINAL CLOSING ON ALL FINANCING IN EARLY 2024. 12622920 662000 6801971 STIMULATE ECONOMIC DEVELOPMENT IN ECONOMICALLY DEPRESSED AREAS: HEDC WORKS WITH NONPROFIT ORGANIZATIONS, SERVICE PROVIDERS AND UNITS OF LOCAL GOVERNMENT TO STIMULATE ECONOMIC DEVELOPMENT IN THE ECONOMICALLY DEPRESSED NEIGHBORHOODS ACROSS THE NATION. WORKING THROUGH THE NEW MARKETS TAX CREDIT PROGRAM ALONG WITH OTHER FINANCING TOOLS FOR SMALL BUSINESSES AND NONPROFITS, HEDC CREATES EMPLOYMENT AND ENTREPRENEURIAL OPPORTUNITIES FOR DISADVANTAGED GROUPS AND INDIVIDUALS, COMBATS COMMUNITY DETERIORATION, AND ELIMINATES SLUM AND BLIGHT THROUGH NEW INVESTMENT IN LOW INCOME COMMUNITIES TO REHABILITATE AND REVITALIZE NEIGHBORHOODS.(CONT. SEE SCHEDULE O) UNDER THE NEW MARKETS TAX CREDIT (NMTC) PROGRAM, HEDC HAS SPONSORED 102 PROJECTS THROUGH A $804 MILLION NMTC ALLOCATION, WHICH LEVERAGED PROJECT FINANCING TOTALING OVER $2.4 BILLION OF NEW INVESTMENT, CREATED/RETAINED OVER 17,000 PERMANENT JOBS AND OVER 10,000 CONSTRUCTION JOBS FOR DISADVANTAGED INDIVIDUALS, AND BROUGHT BADLY NEEDED GOODS AND SERVICES TO LOW-INCOME COMMUNITIES ACROSS AMERICA. ADDITIONALLY, THE 102 PROJECTS CONTAIN 9.1 MILLION SQUARE FEET (11.6 ACRES) OF SOLAR PANELS. IN 2021, HEDC RECEIVED A $50 MILLION NEW MARKETS TAX CREDIT ALLOCATION. HEDC THROUGH ITS AFFILIATE, HEDC NEW MARKETS, INVESTED IN SIX PROJECTS IN 2022, TOTALING $35.4 MILLION IN QUALIFIED EQUITY INVESTMENTS (QEIS). EXAMPLES OF NMTC PROJECT CLOSINGS: GRADY HEALTH SYSTEM PONCE INFECTIOUS DISEASE PROGRAM - ATLANTA, GAGRADY HEALTH SYSTEM IS A $41MM REDESIGN AND EXPANSION OF ITS AIDS/HIV CLINIC. THIS FACILITY PROVIDES THE MAJORITY OF AIDS/HIV TREATMENTS IN THE STATE OF GEORGIA. THE AIDS/HIV EPIDEMIC IS STILL ONGOING IN FULTON AND DEKALB COUNTIES AND DISPROPORTIONATELY AFFECTS THE AFRICAN AMERICAN MALE POPULATION. GRADY IS ALSO A CLOSE PARTNER WITH MOOREHOUSE COLLEGE'S MEDICAL SCHOOL, OFFERING RESIDENCY AND INTERNSHIP OPPORTUNITIES TO ALL OF THE MED STUDENTS AT THE SCHOOL. HEDC NEW MARKETS PROVIDED AN $8.0 MILLION QUALIFIED EQUITY INVESTMENT IN THE $41 MILLION PROJECT THAT RESULTED IN APPROXIMATELY 100 CONSTRUCTION JOBS, THE EXPECTED RETENTION OF 99 JOBS AND THE CREATION OF 22 PERMANENT JOBS. AGC LEARNING HUB - CHICAGO, ILTHE ACADEMY OF GLOBAL CITIZENSHIP'S (AGC) "CULTIVATE COLLECTIVE" IS A SUSTAINABILITY AND WELLNESS HUB LOCATED IN SOUTHWEST CHICAGO. THE HOLISTIC CAMPUS WILL UNITE EDUCATION, WELLNESS, SUSTAINABILITY, AND ECONOMIC VITALITY TO CULTIVATE A RESILIENT, EQUITABLE AND VIBRANT FUTURE FOR THE COMMUNITY. THE FIRST PHASE, ANCHORING A 40-ACRE FORMER PUBLIC HOUSING SITE WILL HOUSE AGC'S EXISTING K-8 SCHOOL, AN EARLY CHILDHOOD CENTER, COMMUNITY HEALTH CARE CENTER, THREE-ACRE URBAN FARM, NEIGHBORHOOD MARKETPLACE, SIX TEACHING KITCHENS AND A RANGE OF COMMUNITY WELLNESS PROGRAMS AND AMENITIES. COMMUNITY OUTCOMES INCLUDE 22 NEW K-8 SEATS, A NEW 120-SEAT HEAD START PROGRAM, ESPERANZA, A BIPOC CONTROLLED FQHC, WILL RUN AN ON-SITE COMMUNITY HEALTH CLINIC SERVING 1,200 PATIENTS ANNUALLY, REMEDIATION OF A BROWNFIELD, AND CONSTRUCT A NET ENERGY/WATER POSITIVE BUILDING THAT WILL GENERATE 105% OF ENERGY NEEDS FROM ROOFTOP SOLAR PANELS. AGC'S STUDENTS ARE 98% BIPOC AND 24% HAVE SPECIAL NEEDS. HEDC NEW MARKETS PROVIDED A $7.0 MILLION QUALIFIED EQUITY INVESTMENT INTO THE $53.1 MILLION PROJECT THAT RESULTED IN APPROXIMATELY 100 CONSTRUCTION JOBS AND THE CREATION OF 40 FULL-TIME QUALITY JOBS. CITY FRESH FOODS - ROXBURY, MACITY FRESH MAKES AND DELIVERS HEALTHY MEALS TO SCHOOLS, CHILDCARE CENTERS AND SENIOR CENTERS THROUGHOUT GREATER BOSTON. THE PROJECT PRODUCES OVER 15,000 MEALS PER DAY FOR A TOTAL OF OVER 3.5 MILLION MEALS PER YEAR. THE MEALS FEED APPROXIMATELY 25,000 LOW-INCOME INDIVIDUALS AND OVER 95% OF THE PEOPLE RECEIVING ITS MEALS ARE BIPOC. THE PROJECT WILL INCLUDE THE ACQUISITION OF AN 18,000 SF COMMERCIAL CONDOMINIUM PLUS 1/2+ ACRE OF LAND PROVIDING SPACE FOR EXPANSION. THE NEW PROPERTY CONSISTS OF A BUILDING SHELL THAT WILL REQUIRE A COMPLETE RENOVATION WITH ALL NEW SYSTEMS. THE NEW FACILITY WILL ENABLE CITY FRESH TO SECURE USDA CERTIFICATION AND PRODUCTION CAPACITY WILL INCREASE FROM 3.5 MILLION MEALS TO 8.4 MILLION. THE NMTC SUBSIDY WILL ALSO ENABLE MANAGEMENT TO EXPAND ADDITIONAL OWNERSHIP OPPORTUNITIES TO ITS EMPLOYEES, 98% OF WHICH IDENTIFY AS RACIAL OR ETHNIC MINORITIES. HEDC NEW MARKETS PROVIDED A $5.0 MILLION QUALIFIED EQUITY INVESTMENT INTO THE $15 MILLION PROJECT THAT RESULTED IN 37 CONSTRUCTION JOBS AND THE CREATION OF 226 PERMANENT JOBS. NDC COMMUNITY IMPACT LOAN FUND (CILF) FEDERAL HOME LOAN BANK MEMBERSHIP, NEW YORK FORWARD, SOAR, WASHINGTON SMALL BUSINESS FLEX FUND, DISCOVER/STATE OF DELAWARE EQ2, AND DELAWARE HISTORIC TAX CREDIT BRIDGE FUND NUMEROUS STUDIES HAVE DOCUMENTED THAT, EVEN AFTER CONTROLLING FOR DIFFERENCES IN CREDITWORTHINESS, BIPOC OWNED SMALL BUSINESSES EXPERIENCE HIGHER LOAN DENIAL RATES AND PAY HIGHER INTEREST RATES THAN WHITE-OWNED BUSINESSES. THIS TREND HAS ACCELERATED AS A RESULT OF THE COVID-19 INDUCED ECONOMIC DOWNTURN. BECAUSE OF THESE DENIAL RATES, BIPOC OWNED BUSINESS MUST RELY MORE UPON OWNER'S EQUITY AND LESS ON BANK DEBT. YET, BIPOC BUSINESSES HAVE LESS EQUITY AND LOWER HOUSEHOLD WEALTH TO DRAW FROM. AS A RESULT, BIPOC SMALL BUSINESSES LAUNCH WITH LESS TOTAL CAPITALIZATION THAN CONVENTIONAL BUSINESSES. WITH INADEQUATE CAPITALIZATION, THESE BUSINESSES SUFFER A HIGHER FAILURE RATE THAN WHITE-OWNED BUSINESSES. IN 2022, CILF, HEDC'S NATIONAL CDFI, OPERATED LOAN PROGRAMS AROUND THE COUNTRY, DEPLOYING MORE THAN $63 MILLION TO APPROXIMATELY 600 SMALL BUSINESSES THE VAST MAJORITY OF WHICH (87%) WERE OWNED BY PERSONS OF LOW INCOME AND IN TRADITIONALLY UNDERSERVED COMMUNITIES OF COLOR AND LOW INCOME. THOSE ENTREPRENEURS RETAINED MORE THAN 2,500 EXISTING JOBS AND PROJECTED ADDING ANOTHER 1,000+. IN DECEMBER OF 2021, NDC COMMUNITY IMPACT LOAN FUND (CILF) WAS GRANTED MEMBERSHIP INTO THE FEDERAL HOME LOAN BANK OF NEW YORK. AS A CDFI MEMBER, CILF WILL UTILIZE DRAWS FROM THE FHLB TO FUND UP TO SEVENTY PERCENT OF A LOAN MADE TO AN ELIGIBLE BUSINESS, HOUSING AND/OR NONPROFIT BORROWER. THE MEMBERSHIP WILL ALLOW CILF TO CONTINUE TO EXPAND ITS LENDING ACTIVITY, INCLUDING PRIORITY LENDING IN CDFI ELIGIBLE CENSUS TRACTS AND TO LOW INCOME BORROWERS. IN 2020, CILF RECEIVED A $38 MILLION EQ2 INVESTMENT COMMITMENT FROM DISCOVER BANK. CILF IN TURN MADE A LOAN TO THE UNIVERSITY OF DELAWARE SPONSORED FINTECH CENTER AND HAS BEEN FUNDING CONSTRUCTION PROGRESS PAYMENTS FOR THE FINTECH CENTER LOCATED ON THE STAR CAMPUS OF THE UNIVERSITY. WHEN FINISHED, THE BUILDING WILL HOUSE UNIVERSITY CLASSROOMS, OFFICES AND FINANCIAL LITERACY PROGRAMS DESIGNED TO SUPPORT THE GREATER DELAWARE SMALL BUSINESS COMMUNITY. THE LOAN PROVIDED BY CILF WILL BE USED TO PROVIDE LOW-COST, PATIENT, AND PERMANENT FIRST MORTGAGE FINANCING FOR THE CONSTRUCTION OF THE FACILITY. EXAMPLES OF THE LOANS MADE BY CILF IN 2022 INCLUDE: - AN $80,000 LOAN TO EZ DRYWALL AND CARPENTRY SERVICES CORP., AN AFRICAN AMERICAN-OWNED CONSTRUCTION COMPANY IN PORT ST. LUCIE, FLORIDA- A $300,000 LOAN TO CHEF K INC., AN AFRICAN AMERICAN AND WOMAN-OWNED JUICE MANUFACTURER AND DISTRIBUTOR IN WATERBURY, CT- A $55,000 LOAN TO LATINO EDUCATIONAL TRAINING INSTITUTE, A HISPANIC & WOMAN OWNED LOW-INCOME-OWNED NON-PROFIT THAT ASSISTS NEW IMMIGRANTS IN LYNWOOD, WASHINGTON 793288 812156 LOW INCOME HOUSING:HEDC IS A NATIONAL LEADER IN LOW-INCOME HOUSING THROUGH BOTH DEVELOPMENT AND INVESTMENT. WORKING IN PARTNERSHIP WITH NONPROFIT ORGANIZATIONS AND SERVICE PROVIDERS AROUND THE NATION, HEDC HAS DEVELOPED, FINANCED, OPERATED, AND/OR MANAGED OVER 14,000 UNITS OF QUALITY, SAFE, ADEQUATE, AND AFFORDABLE LOW-INCOME HOUSING TOTALING MORE THAN $2.5 BILLION OF INVESTMENT IN LOW-INCOME COMMUNITIES IN MORE THAN 30 STATES.(CONT. SEE SCHEDULE O) 93258069 1 1 0 0 0 0 0 0 0 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 28 17 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 0 0 0 0 X DANIEL CHOI 2126821106 633 THIRD AVE SUITE 19J NEW YORK NY 10017 ADAM ENNIS BD MEMBER/COO 5.50 44.50 X X 0 220109 90195 BRENDAN MEHAFFY BD MEMBER 0.25 X 0 0 0 BYRON BROWN BD MEMBER 0.25 X 0 0 0 CHARLEY DEPEW BD MEMBER 3.00 47.00 X 0 209259 27998 DANIEL CHOI CFO 22.50 27.50 X X 0 164163 86257 DANIEL MARSH III PRES/BD MEMBER 4.40 50.60 X X 0 452944 190813 DAVID J TREVISANI BD MEMBER/VICE PRESIDENT 10.50 49.50 X X 0 214643 85560 GERTUDE SCRIVEN BD MEMBER 0.50 49.50 X 0 213515 120444 JOHN MURRAY BD MEMBER 0.25 X 0 0 0 JOHN PALYO BD MEMBER 5.00 45.00 X 0 214066 81711 KEITH SWENSON BD MEMBER 0.25 X 0 0 0 KEVIN GREMSE BD MEMBER 1.00 49.00 X 0 243106 90436 KISTY MORRIS BD MEMBER 0.25 X 0 0 0 KYLE DONAHUE BD MEMBER 0.25 X 0 0 0 LARRY WEST BD MEMBER 0.25 X 0 0 0 MICHAEL GRIFFIN BD MEMBER 1.00 49.00 X 0 252267 104725 OSEREMI ADEKOYE BD MEMBER 0.25 X 0 0 0 RAQUEL FAVELA BD MEMBER 1.00 49.00 X 0 216670 72461 ROSEANN NOVEMBRINO DIRECTOR 0.25 X 0 0 0 SHATORAH DONOVAN BD MEMBER 0.25 X 0 0 0 SHEILA HUMMEL BD MEMBER 0.25 X 0 0 0 STEPHANIE DUGAN BD MEMBER 1.00 49.00 X 0 215123 73474 STEVEN THAYER BD MEMBER 0.25 X 0 0 0 SVANTE MYRICK BD MEMBER 0.25 X 0 0 0 THOMAS GIBNEY BD MEMBER 0.25 X 0 0 0 TOM SCHAPPACHER BD MEMBER 0.25 X 0 0 0 WHITNEY TRUMBLY BD MEMBER 0.25 X 0 0 0 WILLIAM L COURTRIGHT DIRECTOR 0.25 X 0 0 0 JENNIE VERTREES SECRETARY 15.00 35.00 X 0 101193 77225 0 2717058 1101299 0 0 1 0 SEATTLE MAINTENANCE SERVICES PO BOX 95384 SEATTLE WA 98145 JANITORIAL 1524398 BGIS GLOBAL INTEGRATED SOLUTIONS US LLC 210 S HUDSON ST STE 380 SEATTLE WA 98134 PROPERTY MANAGEMENT 1316509 HINES INTERESTS LIMITED PARTNERSHIP 2800 POST OAK BLVD HOUSTON TX 77056 PROPERTY MANAGEMENT 1268856 STAR PROTECTION AGENCY LLC 875 124TH AVENUE NE STE 101 BELLEVUE WA 98005 SECURITY 685445 HINES WEST REAL PROPERTY SERVICES LLC C/O 633 THIRD AVE SUITE 19J NEW YORK NY 10017 MANGEMENT FEES 131250 6 172899 30384452 650134 31207485 RENTAL INCOME 900099 57816922 57816922 INTEREST REVENUE 900099 15271305 15271305 DEVELOPER FEE INCOME 900099 1481601 1481601 FINANCIAL ASSISTANCE 900099 1050000 1050000 75619828 2515552 -2515552 -2515552 -2515552 PARKING INCOME 900099 3205919 3205919 TREASURY REBATES 900099 2141065 2141065 MANAGEMENT FEE INCOME 900099 1147550 1147550 4822665 2947296 1875369 11317199 115628960 82920593 0 1500882 662000 662000 5408142 3134654 2273488 4326239 801151 3525088 15306030 15306030 96761 96761 31413024 31413024 22333177 22333177 1103022 1103022 OPERATING & MAINTENANCE 9605552 9605552 PROVISION FOR LOAN LOSS 7202061 7202061 ADMINISTRATIVE EXPENSES 1621942 1621942 1660555 1600637 59918 100738505 93258069 7480436 0 19416453 20996502 21159911 18768903 927819 1424765 1691122 1313947 40611294 85665451 2451005 2038036 594873784 245449304 398302744 349424480 365016523 360660084 4121445 3529310 60746136 63081646 914444452 906903124 18191096 18167634 123800 62000 11004745 10195788 641454835 571416566 106495000 149752089 1366396 374961 36169445 41906298 814805317 791875336 X 99639135 115027788 99639135 115027788 914444452 906903124 14890455 498198 0 X 0 0 0 X 2004086 2132754 104174208 42657950 31207485 182176483 107428707 76832699 78928459 76639809 75619828 415449502 109432793 78965453 183102667 119297759 106827313 597625985 708069 760500 1204808 90160 110899 2874436 0 708069 760500 1204808 90160 110899 2874436 594751549 163469 31529 3176706 425159 3796863 163469 31529 3176706 425159 3796863 6796642 11834265 8406336 10538681 11317199 48893123 116392904 90831247 194685709 130261599 118144512 650315971 0.91460 0.90790 0.00580 0.01000 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: PARKING FEE - 2018 AMOUNT: $ 3,353,463. 2019 AMOUNT: $ 4,063,843. 2020 AMOUNT: $ 2,645,535. 2021 AMOUNT: $ 2,479,799. 2022 AMOUNT: $ 3,205,919. TREASURY REBATES - 2018 AMOUNT: $ 2,540,046. 2019 AMOUNT: $ 2,459,613. 2020 AMOUNT: $ 2,506,809. 2021 AMOUNT: $ 2,110,986. 2022 AMOUNT: $ 2,141,065. MISC FEE INCOME - 2018 AMOUNT: $ 847,583. 2019 AMOUNT: $ 5,205,259. 2020 AMOUNT: $ 3,158,442. 2021 AMOUNT: $ 5,524,346. 2022 AMOUNT: $ 4,822,665. MANAGEMENT FEE INCOME - 2018 AMOUNT: $ 55,550. 2019 AMOUNT: $ 105,550. 2020 AMOUNT: $ 95,550. 2021 AMOUNT: $ 423,550. 2022 AMOUNT: $ 1,147,550. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 551442720 231963123 319479597 9356199 3935664 5420535 22704312 9550517 13153795 11370553 11370553 349424480 SOCIAL INFRASTRUCTURE DEV. TO LESSEN THE BURDEN OF GOVT 303186580 F CDI INVESTMENT, ECONOMIC DEVELOPMENT 57261513 F LOW INCOME HOUSING PROJECTS 211991 F 360660084 DUE FROM AFFILIATES 15646048 INTEREST RECEIVABLE 414546 ASSETS LIMITED TO USE 41795600 DEVELOPER FEE RECEIVABLE 1649248 DEFERRED FINANCING COSTS 3508389 FEE RECEIVABLES 8150 INTERCOMPANY RECEIVEABLES 59665 63081646 BOND PREMIUM 9135870 DUE TO THIRD PARTIES 13716372 DEFERRED LEASE LIABILITIES 5577914 ADVANCES PAYABLE 1457493 DEFERRED RENT 2102415 INVESTMENT LIABILITIES IN PROJECTS 2903306 RESERVE DEPOSITS 1620068 CONSTRUCTION FUNDS PAYABLE 1556650 DEVELOPER FEES PAYABLE 3342898 SECURITY DEPOSITS 60650 OTHER LIABLILITIES 432662 41906298 1 NDC HOUSING AND ECONOMIC DEVELOPMENT CORP 633 THIRD AVE SUITE 19J NEW YORK NY 10017 112933129 501(C)(3) 600000 0 OPERATIONS (ECON DEV, LI HOUSING, LESSEN BURDENS OF GOV'T) NDC COMMUNITY IMPACT LOAN FUND 633 THIRD AVE SUITE 19J NEW YORK NY 10017 133678913 501(C)(3) 62000 0 OPERATIONS (ECON DEV, LI HOUSING, LESSEN BURDENS OF GOV'T) 2 PART I, LINE 2: THE ORGANIZATION MONITORS THE USE OF GRANT FUNDS BY REQUIRING THE GRANTEE TO PROVIDE PERIODIC REPORTS THAT DESCRIBE THE USE OF GRANT FUNDS. 0 1 0 0 0 0 0 0 0 DANIEL MARSH III PRES/BD MEMBER 0 448000 0 0 0 4944 0 172604 0 18209 0 643757 0 0 MICHAEL GRIFFIN BD MEMBER 0 249945 0 0 0 2322 0 61008 0 43717 0 356992 0 0 GERTUDE SCRIVEN BD MEMBER 0 209449 0 0 0 4066 0 101257 0 19187 0 333959 0 0 KEVIN GREMSE BD MEMBER 0 240841 0 0 0 2265 0 44772 0 45664 0 333542 0 0 ADAM ENNIS BD MEMBER/COO 0 219640 0 0 0 469 0 45531 0 44664 0 310304 0 0 DAVID J TREVISANI BD MEMBER/VICE PRESIDENT 0 211641 0 0 0 3002 0 40946 0 44614 0 300203 0 0 JOHN PALYO BD MEMBER 0 212048 0 0 0 2018 0 41094 0 40617 0 295777 0 0 RAQUEL FAVELA BD MEMBER 0 215591 0 0 0 1079 0 53390 0 19071 0 289131 0 0 STEPHANIE DUGAN BD MEMBER 0 212121 0 0 0 3002 0 41779 0 31695 0 288597 0 0 DANIEL CHOI CFO 0 163867 0 0 0 296 0 42978 0 43279 0 250420 0 0 CHARLEY DEPEW BD MEMBER 0 203757 0 0 0 5502 0 11801 0 16197 0 237257 0 0 JENNIE VERTREES SECRETARY 0 100409 0 0 0 784 0 34755 0 42470 0 178418 0 0 PART I, LINE 4B THE FOLLOWING INDIVIDUALS PARTICIPATE IN A SUPPLEMENTAL 457(F) EXECUTIVE RETIREMENT PLAN, NO CONTRIBUTIONS WERE MADE DURING THE YEAR. - DANIEL MARSH III - GERTRUDE SCRIVEN A WASHINGTON ECONOMIC DEV FIN AUTH 911493002 93975WCB9 2014-07-24 109205000 REFUNDING 0 0 0 B CITY OF NEWBURGH IND DEV AGENCY 141742033 650861AB3 2005-11-17 21230000 CONSTRUCTION 0 0 0 C TOMPKINS COUNTY IDA 161214039 890099CN2 2003-12-01 19035000 CONSTRUCTION 0 0 0 D WBRP 32 273468946 937308AY0 2015-10-07 107615000 CONSTRUCTION 0 1 0 A 44890000 109205000 108233233 971767 1 0 0 1 B 15205782 21230000 372076 112175 19714522 1031227 2007 0 0 1 1 C 10520000 19035000 2086771 1285687 15662542 2005 0 0 0 1 D 13375000 107615000 12078360 1613002 104849679 0 0 0 1 A 0 0 0 1 1 0.00790 0.00790 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 D 0 0 0 1 1 0.01360 0.01360 0 0 1 A 0 0 1 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 0 0 D 0 0 1 0 0 0 0 0 0 A 1 B 1 C 1 D 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: SCRANTON-LACKAWANA HLTH & WELF. AUTH. (CDP SCRANTON) DATE THE REBATE COMPUTATION WAS PERFORMED: 10/28/2021 ISSUER NAME: CDP LOS ANGELES COUNTY DATE THE REBATE COMPUTATION WAS PERFORMED: 06/16/2022 ISSUER NAME: WASH. ST. HOUSING FINANCING COMM. DATE THE REBATE COMPUTATION WAS PERFORMED: 04/22/2022 A NJB PROPERTIES 205535917 65486MAAS 2006-12-05 179285000 CONSTRUCTION 0 1 0 B TOP 260073671 89054QAP5 2014-06-26 43435000 CONSTRUCTION 0 1 0 C WASHINGTON ECONOMIC DEV FIN AUTH 911493002 93975WEH4 2013-12-11 28995000 REFUNDING 0 0 0 D SCRANTON-LACKAWANA HLTH & WELF AUTH (CDP SCRANTON) 232205980 810694K99 2016-08-30 36126671 ACQUIRE LEASEHOLD INTEREST 0 0 0 A 4820000 155420000 179285000 2136771 177148229 2009 0 0 0 1 B 18650000 43435000 48867177 239100 30362 1 0 1 1 C 12225000 28995000 405166 28589834 1 0 1 1 D 531835 36126671 3145683 32980988 0 0 0 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 1 0 1 1 0.01360 0.01360 0 0 1 D 0 0 0 0 0 0 1 A 0 0 1 0 0 0 0 0 0 B 0 0 1 0 0 0 0 0 0 C 0 0 1 0 0 0 0 0 0 D 0 0 0 1 0 0 0 0 0 A 1 B 1 C 1 D 1 A CDP LOS ANGELES COUNTY 273473882 20368RAR5 2011-05-26 43710000 CONSTRUCTION 1 1 0 B COMMUNITY PROPERTIES ALASKA INC 455454746 20401WAT9 2012-12-19 25070000 CONSTRUCTION 0 1 0 C COB PROPERTIES 453455657 19075HAV4 2014-07-11 49625000 CONSTRUCTION 0 1 0 D FYI PROPERTIES 262473717 302716AW5 2019-03-05 227875000 REFUNDING 0 1 0 A 12570000 31140000 43710000 1271507 42438493 2012 0 0 0 1 B 4200000 25070000 544205 24525795 2014 0 0 0 1 C 9030000 49625000 1020679 48604321 2015 0 0 0 1 D 24035000 227875000 341665 227533335 1 0 0 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 D 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 C 0 0 1 0 0 0 0 0 0 D 0 0 1 0 0 0 0 0 0 A 1 B 1 C 1 D 1 A WASH ST HOUSING FINANCING COMM 911874730 2020-12-30 14410000 REFUNDING 0 0 0 A 433671 14410000 314934 14095066 1 0 1 1 A 0 0 0 0 0 0 1 A 0 0 0 1 1 0 0 0 0 A 1 FORM 990, PART III, LINE 1 CONTINUATION: INCOME HOUSING FOR PERSONS OF LIMITED FINANCIAL MEANS, HANDICAPPED PERSONS, ELDERLY PERSONS, AND OTHER PERSONS IN NEED OF SAFE ADEQUATE AFFORDABLE HOUSING AND TO ASSIST GENERALLY IN THE ALLEVIATION OF HOUSING SHORTAGES THROUGHOUT THE US. B. TO ASSIST IN THE ERECTION AND MAINTENANCE OF PUBLIC BUILDINGS, MONUMENTS, FACILITIES, OR WORKS; TO LESSEN THE BURDENS OF GOVERNMENT; AND TO PROMOTE SOCIAL WELFARE. C. TO INITIATE AND CARRY OUT ACTIVITIES TO STIMULATE ECONOMIC DEVELOPMENT IN ECONOMICALLY DEPRESSED AREAS OF THE US. IN PARTICULAR, TO UNDERTAKE ACTIVITIES THAT: - RELIEVE POVERTY AND LESSEN NEIGHBORHOOD TENSION CAUSED BY A LACK OF JOBS IN DETERIORATED AND DEPRESSED AREAS BY PROVIDING TRAINING OPPORTUNITIES FOR THE UNEMPLOYED AND CREATING JOB OPPORTUNITIES FOR DISADVANTAGED GROUPS. - COMBAT COMMUNITY DETERIORATION AND ELIMINATE BLIGHT BY UNDERTAKING ACTIVITIES THAT STIMULATE THE ESTABLISHMENT OF NEW BUSINESSES AMONG DISADVANTAGED GROUPS AND WHICH REHABILITATE AND REVIVE EXISTING BUSINESSES OPERATED BY DISADVANTAGED GROUPS. FORM 990, PART III, LINE 4C CONTINUATION: IN 2022, THROUGH OUR LOW-INCOME HOUSING DEVELOPMENT AND INVESTMENT ACTIVITIES, HEDC THROUGH ITS AFFILIATES, THE NDC CORPORATE EQUITY FUNDS, INVESTED MORE THAN $121 MILLION IN 16 PROJECTS CONTAINING 1,110 UNITS OF QUALITY, SAFE, ADEQUATE, AND AFFORDABLE HOUSING FOR LOW-INCOME PERSONS AND FAMILIES, THE ELDERLY, AND PEOPLE WITH SPECIAL NEEDS. THE FOLLOWING ARE REPRESENTATIVE SAMPLES OF HEDC AFFORDABLE HOUSING PROJECTS COMPLETED IN 2022: SIDNEY VILLAGE SIDNEY, OHIO SIDNEY VILLAGE IS AN EXISTING FAMILY RENTAL PROJECT THAT CONSISTS OF THIRTY-FOUR (34) UNITS IN SIX BUILDINGS. THE PROPERTY INCLUDES ONE, TWO, THREE AND FOUR BEDROOM UNITS AND WILL BE RENTED TO FAMILY HOUSEHOLDS WHOSE INCOME DOES NOT EXCEED 50% OF THE AREA MEDIAN INCOME. THE PROPERTY RENOVATION WILL INCLUDE IMPROVEMENTS TO SITE AND BUILDING DESIGN, MECHANICAL AND ELECTRICAL SYSTEMS AND BUILDING COMPONENTS INCLUDING EXTERIOR, INTERIOR AND LIFE SAFETY ITEMS. UNIT RENOVATIONS WILL INCLUDE NEW KITCHEN AND BATHROOM CABINETS, KITCHEN APPLIANCES, NEW FLOORING IN BEDROOMS AND PAINTING ALL UNITS. APPLEWOOD APARTMENTS PROCTORVILLE, OHIO APPLEWOOD APARTMENTS WILL BE THE NEW CONSTRUCTION OF FIFTY (50) AFFORDABLE APARTMENTS UNITS. THE UNITS WILL BE TARGETING HOUSEHOLDS WITH INCOMES BETWEEN 30% AND 60% OF THE AREA MEDIAN INCOME AND WILL INCLUDE ONE, TWO, AND THREE BEDROOM FAMILY UNITS. THE PROJECT WILL OFFER A STACKED TOWNHOMESOVERFLATS DESIGN, A UNIQUE PRODUCT TYPE FOR THIS MARKET THAT COMBINES THE EFFICIENCY OF A MULTIFAMILY BUILDING WITH THE ATTRACTIVENESS OF A PRIVATE ENTRANCE TO EACH UNIT. RESIDENTS OF THE 20 GROUNDFLOOR UNITS WILL HAVE PRIVATE PATIOS. UPPERLEVEL UNITS, A MIX OF ONE AND TWOBEDROOMS, WILL HAVE INDIVIDUAL ENTRANCES ON THE GROUND LEVEL THAT LEAD TO STAIRS UP TO THE MAIN LIVING AREA. THE PROPERTY WILL INCLUDE AMENITIES SUCH AS ON-SIGHT MANAGEMENT, ACTIVITY ROOM, ACCESS TO CHILDCARE, AND OTHER SOCIAL SERVICES. MURRAY ON MAIN APARTMENTS WILLIMANTIC, CT MURRAY ON MAIN WILL BE THE SUBSTANTIAL RENOVATION OF A THREE STORY HISTORIC BUILDING IN DOWNTOWN WILLIMANTIC, CT INTO 16 LIHTC UNITS COMPRISED OF STUDIO, ONE AND TWO BEDROOM UNITS. THE BUILDING WILL ALSO INCLUDE 1,500 SQUARE FEET OF FUTURE COMMERCIAL SPACE. THE LIHTC UNITS WILL BE TARGETING HOUSEHOLDS WITH INCOMES BETWEEN 50% AND 60% OF THE AREA MEDIAN INCOME. FORM 990, PART VI, SECTION A, LINE 6 NATIONAL DEVELOPMENT COUNCIL IS THE SOLE VOTING MEMBER OF NDC HOUSING & ECONOMIC DEVELOPMENT CORPORATION. FORM 990, PART VI, SECTION A, LINE 7A NATIONAL DEVELOPMENT COUNCIL IS THE SOLE VOTING MEMBER OF NDC HOUSING & ECONOMIC DEVELOPMENT CORPORATION AND HAS THE POWER TO ELECT AND REMOVE DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PREPARED BY OUTSIDE TAX PREPARERS IN CONSULTATION WITH MANAGEMENT AND AUDITORS. A DRAFT OF THE FULL FORM 990 WAS PROVIDED TO THE ENTIRE BOARD FOR REVIEW. A COMPLETE COPY OF THE FINAL FORM 990 WAS PROVIDED TO THE ORGANIZATION'S ENTIRE BOARD BEFORE IT WAS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL MEMBERS OF NDC'S BOARD OF DIRECTORS AND EXECUTIVE EMPLOYEES ARE REQUIRED ANNUALLY TO EXECUTE A CONFLICT OF INTEREST AND COMPENSATION GUIDELINES ACKNOWLEDGEMENT STATING THAT THEY HAVE RECEIVED, READ AND UNDERSTAND, AND AGREE TO COMPLY WITH THE CONFLICT OF INTEREST AND COMPENSATION GUIDELINES. THE CONFLICT OF INTEREST AND COMPENSATION GUIDELINES REQUIRES BOARD MEMBERS AND EXECUTIVE EMPLOYEES TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST IMMEDIATELY.UPON DISCLOSURE OF A POTENTIAL CONFLICT OF INTEREST, THE CHAIRPERSON OF THE BOARD WILL APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION. VIOLATIONS OF THE CONFLICT OF INTEREST POLICY CAN RESULT IN APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. ALSO, ALL BOARD MEMBERS, BY EXECUTING THE ANNUAL ACKNOWLEDGEMENT STATEMENT, CONCERNING THE CONFLICT OF INTEREST AND COMPENSATION GUIDELINES, ACKNOWLEDGE THAT NDC SHALL REMAIN FAITHFUL TO ITS CHARITABLE PURPOSES. FORM 990, PART VI, SECTION C, LINE 19 THE DOCUMENTS ARE AVAILABLE BY REQUEST. FORM 990, PART IV, LINE 12B: THIS RETURN HAS BEEN PREPARED BASED ON ALL AVAILABLE INFORMATION AT THE TIME OF FILING. IT IS ALSO BASED ON UNAUDITED FINANCIAL STATEMENTS. IF ANY SIGNIFICANT DIFFERENCES ARISE AFTER THIS FILING, THIS RETURN WILL BE AMENDED TO PROPERLY REFLECT THE ADDITIONAL INFORMATION. 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