Month: January 2024

Construction underway on 56-unit senior affordable housing development with special accommodations.

MONTGOMERY, Ala., January 24, 2024 /3BL/ – Regions Bank on Thursday announced it has facilitated an equity investment that will expand access to affordable housing for seniors in Montgomery.

Freedom Village is under construction on Edgar D. Nixon Avenue near downtown. Developed by the Community Action Partnership of North Alabama (CAPNA), with consultation and additional services provided by the Bennett Group, Freedom Village will consist of 56 two-bedroom units in a three-story, elevator-serviced building. The development is specifically designed to help meet the housing needs of people aged 55 and over.

Within the development, 44 apartments are reserved for seniors earning 60% or less of the area median income (AMI), and the remaining 12 apartments are reserved for seniors earning 50% AMI or less. Four are specifically set aside for seniors who are homeless or who have a documented disability. Carastar Health, formerly known as the Montgomery Area Mental Health Authority Inc., will provide resident referrals, act as a liaison between residents and the property management, and provide other health and wellness services for tenants.

Regions Bank’s Affordable Housing group facilitated the $13.5 million in federal Low-Income Housing Tax Credit (LIHTC) equity with a large institutional investor to support the development. Since 2016, Regions Affordable Housing has completed six similar transactions with the developer, most recently the Trinity Ridge development, a 56-unit senior housing facility in Phenix City.

Affordable housing provides hope and opportunity. 
Phillip Mullins, Affordable Housing relationship manager for Regions Bank

“Affordable housing provides hope and opportunity. It’s crucial for the success of any community, and it’s another area where Regions Bank can leverage the financial experience and insights of our teams to make a meaningful difference for others,” said Phillip Mullins, Affordable Housing relationship manager for Regions Bank. “Regions Affordable Housing works closely with developers, community leaders and others to provide funding for developments so more people can have a safe and affordable place to call home. At a time when the senior population continues to grow, Freedom Village provides the foundation needed to help seniors through the next stage of life.”

Regions Affordable Housing LLC is a national Low-Income Housing Tax Credit investor, syndication firm, and leader in affordable housing. Regions Bank is one of the nation’s largest participants in affordable housing finance through the LIHTC program, providing comprehensive real estate banking and capital markets services to meet the debt and equity capital needs of developers and investors. Regions Bank is also a Fannie Mae DUS Multifamily Affordable Lender, HUD/FHA Affordable Lender, and Freddie Mac Targeted Affordable Housing lender.

These affordable housing units are a capstone to a master-planned development of this neighborhood, and we are thrilled to have Regions Bank, the City of Montgomery, the Alabama Housing Finance Authority and the Bennett Group as key supporters. 
Aron Boldog, director of Real Estate Development at the Community Action Partnership of North Alabama

“These affordable housing units are a capstone to a master-planned development of this neighborhood, and we are thrilled to have Regions Bank, the City of Montgomery, the Alabama Housing Finance Authority and the Bennett Group as key supporters,” said Aron Boldog, director of Real Estate Development at the Community Action Partnership of North Alabama. “This 56-unit development will complement the existing affordable housing that has already been developed over the last eight years in this neighborhood very nicely. This has been a long time coming, and it feels good to see the master plan being finished out with this beautiful development.”

Robert Birmingham, Montgomery and Central Alabama market executive for Regions Bank, said affordable housing opportunities like Freedom Village reflect how a bank can collaborate with other organizations to produce a shared community benefit.

“At Regions Bank, our mission is to make life better, and we live our mission daily in the transactions our bankers facilitate, as well as our community engagement with organizations meeting a number of needs,” Birmingham said. “Our teams in Montgomery and beyond carry great pride in seeing developments like Freedom Village come together, and we appreciate the Community Action Partnership of North Alabama for leading the way in making another affordable option available for Montgomery residents.”

About Regions Financial Corporation 
Regions Financial Corporation (NYSE:RF), with $154 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,250 banking offices and more than 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.

VAUGHAN, Ontario, January 24, 2024 /3BL/ – The Taco Bell Foundation has raised $40,000 for Junior Achievement Canada since the nonprofit organization launched fundraising efforts in Canada last summer. The Taco Bell Foundation’s arrival in the true north signifies a remarkable step toward making a positive impact on the lives of young Canadians and communities internationally. With a commitment to “Live Más,” the Taco Bell Foundation is dedicated to equipping young Canadians with the skills, confidence, resources, and connections they need to succeed in school and beyond.

“Every year, the Taco Bell Foundation provides grants and scholarships aimed to help young people in and around the communities where Taco Bell does business,” said Jennifer Bradbury, Taco Bell Foundation Executive Director. “We are excited to bring our Community Grants program to Canada and provide financial support to deserving organizations like Junior Achievement, helping more young Canadians realize their full potential. Thanks to generous donations from Taco Bell customers and fans, we’re able to give back and inspire the next generation.”

Junior Achievement Canada will be Taco Bell Foundation’s inaugural partner in this endeavor. The Taco Bell Foundation has a longstanding partnership with JA in the United States and with the recently announced launch of the Taco Bell Foundation in Canada, is expanding the partnership with JA providing Canadian youth with valuable skills, knowledge, and experiences that will equip them for the future.

“JA is thrilled to see the Taco Bell Foundation launch its innovative Round Up program in Canada,” said Scott Hillier, CEO, JA Canada. “We admire Taco Bell Foundation’s commitment to break down barriers to educate and inspire the next generation of leaders. Donations to the Taco Bell Foundation will help JA expand access to impactful career-readiness programs for thousands of underserved youth across Canada.”

JA Canada’s mission is to inspire and prepare students with the skillset and mindset to build thriving communities and be successful in the global economy, aligning perfectly with the Taco Bell Foundation’s mission. JA delivers hands-on, immersive learning in entrepreneurship, financial literacy, and work readiness to more than 300,000 students annually.

The Taco Bell Foundation, through its generous $40,000 grant, given to JA Canada, will impact approximately 1,500 students across Canada. Customers and fans of the brand can donate to the Taco Bell Foundation all year long by rounding up their total to the nearest dollar at the front counter and drive-thru at participating locations.

For more information on the Taco Bell Foundation, please visit www.tacobellfoundation.org.

About Taco Bell Foundation:

Taco Bell Foundation, Inc. is a 501(c)(3) public charity that helps break down barriers to educate and inspire the next generation of young leaders. Since 1992, the Taco Bell Foundation has reached more than 5 million young people around the globe and has awarded more than $155 million in grants and scholarships focused on education and career readiness.

For Media Inquiries, Please Contact:

Richard Villagomez – Taco Bell Corp 
Richard.Villagomez@yum.com

About Junior Achievement Canada:

JA Canada is a renowned educational non-profit organization. JA inspires the next generation to realize their potential and make a positive impact in their communities. Through a network of local offices, JA collaborates with educators, volunteers, and organizations across Canada to deliver hands-on, immersive, and digital learning experiences to young people, reaching more than 300,000 annually. JA commits to ensuring accessibility and inclusivity through programs that help youth build transferable skills in work readiness, financial health, and entrepreneurship. www.jacanada.org for more information.

For Media Inquiries, Please Contact:

Angela Scott 
Manager, Marketing and Communications 
JA Canada 
ascott@jacanada.org

SOURCE Taco Bell Canada

Rockwell Automation (NYSE: ROK) has received a score of 100 on the Human Rights Campaign (HRC) Foundation’s 2023-2024 Corporate Equality Index (CEI), the nation’s foremost benchmarking survey and report measuring corporate policies and practices related to LGBTQ+ workplace equality.

This is the 11th consecutive year Rockwell has received this recognition, reflecting the company’s work to align best practices and continually exceed increasingly stringent criteria.

Rockwell joins the ranks of 545 major U.S. businesses who also earned top marks this year. While the benchmarking survey administered by the HRC Foundation rates practices in the U.S., it also asks about global practices to ensure companies are creating an inclusive culture around the world.

Since 2002, the HRC Foundation has published the CEI report based largely on the annual CEI survey administered to hundreds of major global employers. This year’s survey engaged more than 1,300 businesses, indicating an increase in the successful implementation of inclusion best practices in the U.S. Read the full HRC report for findings and criteria, including workplace protections, inclusive benefits, support for an inclusive culture, and corporate social responsibility.

Learn more about Rockwell’s workplace culture in the company’s 2023 Sustainability Report.

CLEVELAND, January 24, 2024 /3BL/ – KeyBank Community Development Lending and Investment (CDLI) provided a $34.3 million in construction and permanent financing through the HUD 221(d)(4) Mortgage Insurance program to facilitate the substantial rehabilitation of six low-income apartment buildings in the South Shore of Chicago. The 6900 Crandon Apartments provides 151 units for elderly and disabled residents subsidized under a project -based Section 8 contract. The remaining five apartment building provide 126 units for families.

The sponsor for the South Shore apartments is Evergreen Real Estate Group (Evergreen), a fully integrated real estate company that develops, acquires, and manages affordable and market-rate multifamily communities across 12 states. The properties are owned by a LIHTC partnership created by the Housing and Human Development Corporation (HHDC), a non-profit public housing facility in Chicago, whose mission is to promote affordable housing and provide services to low-income residents and families.

The project also received LIHTC and tax-exempt bond allocations from Illinois Housing Development Authority (IHDA). KeyBanc Capital Markets served as the sole manager and underwriter for the $55.1 million bonds.

The funds will be used to improve tenant quality of life and sustainability of the apartments over the long term. Improvements include new cabinets, countertops, flooring, energy efficient appliances and fixtures for resident units as well as elevator modernization, upgrades to mechanical, electrical and plumbing systems and replacement of existing roofs, masonry and exterior repairs

HHDC serves as the owner/operation and will provide on-site social service coordinators (2.5 FTE) to connect residents to a variety of community based social service providers and assist residents in determining eligibility for various government services including health care and health care education, financial literacy and computer literacy, childcare, youth activities, nutritional services, disability services, tenant home ownership training and parenting programs.

Leslie Meyers and Robbie Lynn of KeyBank CDLI structured the HUD 221 (d)(4) financing, and Sam Adams of KeyBanc Capital Markets marketed the bonds.

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 KeyBanc Capital Markets

KeyBanc Capital Markets is a leading corporate and investment bank providing capital markets and advisory solutions to dynamic companies capitalizing on opportunities in changing industries. Our deep industry expertise, broad capabilities and unique ideas are seamlessly delivered to companies across the Consumer & Retail, Diversified Industries, Healthcare, Industrial, Oil & Gas, Real Estate, Utilities, Power & Renewables, and Technology verticals. With over 800 professionals across a national platform, KeyBanc Capital Markets has more than $50 billion of capital committed to clients and an award-winning Equity Research team that provides coverage on nearly 600 publicly traded companies. Securities products and services are offered by KeyBanc Capital Markets Inc., member FINRA/SIPC, and its licensed securities representatives, who may also be employees of KeyBank N.A. Banking products and services, are offered by KeyBank N.A.

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 $188 billion at September 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.