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CEI Capital Management LLC (CCML)

 

CCML is a for profit CEI subsidiary that furthers CEI's mission by working to help attract capital to low-income areas using the federal New Markets Tax Credit (NMTC) program. CEI and CCML take a triple bottom-line approach as an NMTC program sponsor when underwriting prospective transactions, looking for strongly positive economic and community development impacts, social equity, and environmental protection.

The U.S. Treasury Department's CDFI Fund's New Markets Tax Credit Program mission is to expand the availability of credit, investment capital, and financial services in distressed urban and rural communities. Specifically, the CDFI Fund's New Markets Tax Credit Program was authorized by Congress to help attract private sector capital investment into urban and rural low-income areas to finance community development projects, stimulate economic opportunities and create jobs in areas with the greatest need.

CEI participated in the initial conceptualization and development of the NMTC initiative at the national level. CEI continues to take a progressive, leadership role as a member of the NMTC Coalition and embraces the Coalition's goal of directing NMTC resources to community development projects that create enduring opportunities for people and places traditionally outside of the economic mainstream.

CCML is using the NMTC program to create greater access to capital for real estate development and operating businesses located in eligible low-income communities, primarily in Maine, the other New England States, and New York. CEI has also now extended its NMTC services to encompass all of rural America.

  • If you have a project or business that may be eligible for NMTCs (and/or needs financing), please click here.
  • If you are an investor or capital source interested in placing debt or equity into an eligible project in exchange for NMTCs, please click here.

If you: would like more information about the New Markets Tax Credit program, want to find out whether a prospective project is in an eligible NMTC area, or have an interest in providing debt or equity capital in exchange for the federal income tax credits, please contact us at nmtc@ceimaine.org.

CEI IN THE NEWS!

The results are in! Learn what the evaluation of the Farms for the Future disclosed ... 

Ron Phillips, President of CEI, speaks on public television’s “Conversations with Maine.” 

ImageMaine Legislature Passes Model Anti-Predatory Lending Bill.

Review LD 1869 here.

Predatory Mortgages in Maine Recent Trends and the Persistence of Abusive Lending Practices. A joint report issued by Coastal Enterprises, Inc. and the Center for Responsible Lending, 2006.

CEI receives SCED award for CED excellence. 

Announcing the publication, Telling Their Stories: Women Business Owners in Western Maine 

Read about NMTC's $120 million allocation to CEI.

CEI worked with a broad coalition to get the Office of Consumer Credit Regulations to study the impacts of payday lending.   

The Maine Working Waterfront Coalition works to help save commercial fishing access properties.

3E Investing at CEI
» Learn more here!

Gulf of Maine Research Institute - Collaborative Science

The newest building on Portland's waterfront is the 56,000 square foot Gulf of Maine Research Institute (GMRI). Currently in its last phase of construction, GMRI will soon be home to a variety of non-profit, governmental and for-profit tenants, all focused on the Gulf of Maine and its watershed. With laboratories, research centers, and exhibit spaces, this state of the art facility is positioned to become a world-class marine research and education center. One critical role for the GMRI is to be a "neutral convener", bridging a long standing gap between scientists and fishermen.

CEI Capital Management, a for-profit CEI subsidiary, helped finance the facility through its New Markets Tax Credit program under which CEI was awarded $129 million in tax credit allocation authority to draw capital into disadvantaged areas. With the tax credit, Peoples Heritage Bank (Banknorth, N.A.) provided a $4 million long-term loan to GMRI. CEI was attracted to GMRI for its high quality jobs as well as the commitment to sustaining the Gulf of Maine's fishery ecosystem and the 25,000 fishing jobs, fishing communities and fishing families that depend on it.
36 Water Street, PO Box 268, Wiscasset, ME 04578; Telephone: 207/882-7552; FAX: 207/882-7308; E-mail: cei@ceimaine.org