Month: July 2023

CLEVELAND, July 24, 2023 /3BL/ – KeyBank Community Development Lending and Investment (CDLI) provided a $4 million construction loan, $6.3 million in Low-Income Housing Tax Credit (LIHTC) equity and arranged permanent financing with a $10.1 million Freddie Mac TEL for the acquisition and rehabilitation of Salem Manor, an existing family affordable housing project that was at risk of being converted to market rate housing in Salem Oregon.

The project sponsor, Hampstead Development Partners, Inc., is an experienced developer focused on the development, acquisition and rehabilitation, and operation of affordable properties. KeyBank previously provided the acquisition bridge loan for resyndication for Hampstead to acquire and preserve this property.

Hampstead will immediately begin a $4 million rehabilitation of the property, which will include modernization of kitchens and bathrooms, full ADA accessibility upgrades to select units, upgrades to the buildings electrical system to ensure tenant safety, the addition of a fitness center and full exterior upgrades (windows, paint, siding, roofs) to select buildings that remain in original condition.

The project offers 64 total units for families and individuals earning no more than 60% of the area median income (AMI) and is subsidized by a Section 8 Housing Assistant Payment (HAP) Contract. The 10-building property is located on the eastern side of the City of Salem in a mixed-use neighborhood with major shopping, schools, and recreational amenities located nearby.

John Paul Vachon, Matthew Haas and Hector Zuniga of KeyBank CDLI structured the financing.

About KeyBank Community Development Lending and Investment

KeyBank Community Development Lending and Investment (CDLI) finances projects that stabilize and revitalize communities across all 50 states. As one of the top affordable housing capital providers in the country, KeyBank’s platform brings together construction, acquisition, bridge-to-re-syndication, and preservation loans, as well as lines of credit, Agency and HUD permanent mortgage executions, and equity investments for low-income housing projects, especially Low-Income Housing Tax Credit (LIHTC) financing. KeyBank has earned 10 consecutive “Outstanding” ratings on the Community Reinvestment Act exam, from the Office of the Comptroller of the Currency, making it the first U.S. national bank among the 25 largest to do so since the Act’s passage in 1977.

About KeyCorp

KeyCorp’s roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation’s largest bank-based financial services companies, with assets of approximately $195 billion at June 30, 2023. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,300 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications, and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.

Alkermes is honored to be selected for the Bell Seal for Workplace Mental Health at Platinum for the second consecutive year. This award, given annually by Mental Health America recognizes our commitment to fostering a mentally healthy workplace. 

As a company with a long history of supporting people affected by serious mental illness and addiction, mental health is woven into the very fabric of who we are as an organization. We believe that by investing in and implementing policies and practices to support our employees’ physical and mental well-being, we can create a safe, healthy, and supportive environment where everyone can thrive.

Read more about this honor: https://lnkd.in/eYQzUXuX

HOUSTON and ROTTERDAM, Netherlands, July 24, 2023 /3BL/ – LyondellBasell (NYSE: LYB) announced it received a rating of AA, on a scale of CCC to AAA, in the MSCI ESG Ratings Assessment and is now part of the ‘leader’ category. The new rating is an improvement from the ‘A’ status LyondellBasell received last year and is reflective of the actions the company has taken on carbon mitigation and its industry-leading corporate governance practices.

“Our ESG success is measured by the meaningful progress we continue to make on our climate strategy, transparency and the actions we take,” said Andrea Brown, LyondellBasell chief sustainability officer. “We believe in creating solutions for everyday sustainable living, and an important component of this is ensuring we maintain our momentum in progressing our ESG activities in a positive direction.”

AA ratings are awarded to the top 10% of companies within each sector included in the index — those who are leading their industry in managing the most significant ESG risks and opportunities. For more information, please see the MSCI ESG Ratings website.

Disclaimer
The use by LyondellBasell of any MSCI ESG Research LLC or its affiliates (“MSCI”) data, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement, recommendation, or promotion of LyondellBasell by MSCI. MSCI services and data are the property of MSCI or its information providers and are provided ‘as-is’ and without warranty. MSCI names and logos are trademarks or service marks of MSCI.

About us
We are LyondellBasell – a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and focused investments, we are enabling a circular and low carbon economy. Across all we do, we aim to unlock value for our customers, investors and society. As one of the world’s largest producers of polymers and a leader in polyolefin technologies, we develop, manufacture and market high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare. For more information, please visit www.lyondellbasell.com or follow @LyondellBasell on LinkedIn.