Community Investment Corporation

Cic provided loans and financial assistance in pima county and the interconnected regional economy of southern Arizona to businesses that were unable to obtain such through and/or that have been historically underserved by traditional capital access institutions. Loans were made on the basis of serving the public purpose of supporting local and regional economic development which includes business and employment creation/retention.

Cic's bond compliance program served 58 different public schools or school networks through 75 separate bond agreements generating nearly 223,000 in revenues. Bond compliance services consist of supporting bond recipients (schools) with their contractual obligations to provide continuing disclosure information to the electronic municipal market access (emma) website. These disclosures serve an essential role for a properly and efficiently functioning bond market by enhancing transparency for investors and in the bond market at large, as well as helping preserve/enhance schools' bond ratings.

Cic administered a majority of the city of tucson's federally funded eviction prevention assistance in 2022 through contracts with the city of tucson. Through the creation of an online platform, cic facilitated over 25 million in direct payments to landlords/property managers on behalf of 4,876 eligible tenant households affected by covid-19 or the economic impacts of the covid-19 pandemic. Additionally, cic administers down payment assistance programs on behalf of the pima and tucson industrial development authorities (idas) and the city of tucson in support of the public benefit of first-time homeownership for mid- and low-income buyers as well as a mortgage credit certificate program on behalf of the pima ida which reduces the ongoing costs of owning a home through a federal tax credit.