Organization: COMMONWEALTH CORNERSTONE GROUP
Mission: TO MAKE LOANS TO QUALIFIED BUSINESSES FOR THE DEVELOPMENT AND OR REHABILITATION OF REAL ESTATE, WHOSE REDEVELOPMENT IS CRITICAL FOR THE REVITALIZATION OF SMALLER COMMUNITIES.
Activities: THE ORGANIZATION MADE LOANS TO QUALIFIED BUSINESSES FOR THE DEVELOPMENT AND OR REHABILITATION OF REAL ESTATE, INCLUDING MIXED USE PROPERTIES WHOSE REDEVELOPMENT IS CRITICAL FOR THE REVITALIZATION OF SMALLER COMMUNITIES; TO FINANCE COMMUNITY FACILITIES THAT PROVIDE SERVICES NOT CURRENTLY AVAILABLE TO RESIDENTS IN THOSE COMMUNITIES; AND TO FINANCE THE DEVELOPMENT OF WEALTH-CREATING SINGLEFAMILY HOMES THAT ENHANCE LOW INCOME COMMUNITIES. THE ORGANIZATION WAS THE RECIPIENT OF $60,000,000 OF NMTC ALLOCATION RECEIVED IN ROUND IV AND ADDITIONAL ALLOCATIONS OF $60,000,000, $28,000,000, $45,000,000, $33,000,000, $45,000,000, $80,000,000, AND $55,000,000 IN THE SIXTH, EIGHTH, TENTH, ELEVENTH, TWELFTH, THIRTEENTH, AND FIFTEENTH ROUNDS, RESPECTIVELY.
NTEE category: Housing & Shelter
Secondary category: Community Improvement & Capacity Building