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 61 different public schools or school networks through 75 separate bond agreements generating nearly 210,000 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's home ownership support services empower first-time homebuyers across Arizona, particularly in pima county, by providing essential financial assistance. Through our mortgage credit certificate (mcc) program, income- qualified buyers can reduce their annual mortgage interest by claiming up to 2,000 as a federal tax credit. This benefit is renewable each year, adding up to potential savings of over 50,000 across the life of the mortgage. The mcc program is funded by the pima county industrial development authority. In addition to the mcc program, we administer down payment assistance in collaboration with the industrial development authorites (idas) of pima county and the city of tucson. This program provides between 2% and 5% of the purchase price to eligible homebuyers, reducing the financial burden of upfront costs and making the path to homeownership more accesible.