Category: Press Release

CEI Releases 2022 Impact Report: Community Investments Support Climate Resilience, Good Jobs, and an Equitable Economy

[December 14, 2022] – Brunswick, Maine — Coastal Enterprises, Inc. (CEI), today reported its fiscal year 2022 impact, a look at how its combined economic development tools—business financing and advice, personal financial coaching and policy advocacy—helped strengthen local communities by growing good jobs and environmental resilience, particularly for people and places left behind by traditional financial systems.

Baltimore’s First Zero Energy Multifamily Development Supports Penn North Community Vision For Affordable Housing, Small Business And Nonprofit Space

with Investment from Woodforest CEI-Boulos Opportunity Fund, a partnership between Woodforest National Bank and CEI-Boulos Capital Management THE WOODLANDS, Texas, Nov. 15, 2021 /PRNewswire/ — The Woodforest CEI-Boulos Opportunity Fund, a high-impact commercial real estate Opportunity Zone fund established by Woodforest National Bank® and CEI-Boulos Capital Management, announced its $1.1 million equity investment in the Zero Energy North Avenue Affordable Housing project located in the recently designated “Black Arts District” in West Baltimore’s Penn North neighborhood. The Woodforest CEI-Boulos Opportunity Fund is the only outside equity investor in the $4.9 million, environmentally innovative project spearheaded by Baltimore’s Schreiber Brothers Development. The project, which will rehabilitate abandoned, historic townhouses, is the first multifamily, zero energy development in Baltimore and the first mixed-use, zero energy development in Maryland. Some construction jobs will be filled by a workforce development nonprofit providing training and experience in sustainable development and solar panel installation to individuals with low incomes.

OPEGA Releases Positive Review of the Maine Historic Rehabilitation Tax Credit

November 10, 2021|Augusta, ME – The Office of Program Evaluation and Government Accountability released its evaluation of the Maine Historic Rehabilitation Tax Credit (HRTC), finding that the tax credit’s structure and administration are sound and efficient, the credit follows best practices, and program data is robust. The evaluation also found that the HRTC incentivizes historic preservation and community revitalization, promoting affordable housing, job creation, and economic growth.