CIVIC San Diego Economic Growth and Neig Neighborhood Investment Fund

The growth fund was created to make qualified low income community investments in the city of san diego or other activities which qualify for new market tax credits (nmtc). The growth fund's purpose is also to engage in (1) raising equity for investment by the growth fund or its affiliated entities; (2) form subsidiary limited liability companies which the growth fund serves as manager or managing member, or subsidiary limited partnerships in which the growth fund serves as general partner; (3) apply on behalf of subsidiaries for their certification as a qualified community development entity (cde) as defined in section 45d of internal revenue code; (4) transfer any allocations of nmtcs the growth fund receives to subsidiary cdes; (5) raise equity for investment in subsidiary cdes; and (6) receive, utilize, and invest gross receipts from growth fund exempt functions and funds.