The Climate Trust Investment Helps Finance Economic Development in the Interstate Corridor Urban Renewal Area in Portland, Oregon

FT. LAUDERDALE, Fla., Nov. 21, 2011 /PRNewswire/ -- Community Capital Management, Inc. today announced that its flagship fund, the CRA Qualified Investment Fund, purchased a portion of the City of Portland, Oregon, Interstate Corridor Urban Renewal and Redevelopment Bonds.

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The Climate Trust helped provide funding for the Bonds through its investment in the CRA Qualified Investment Fund Institutional Shares (Ticker: CRANX).   In 2010, The Climate Trust directed that funds be invested in a way that aligns with its mission to accelerate innovative climate solutions.

The Interstate Corridor Urban Renewal Area comprises portions of 11 neighborhoods within inner North/Northeast Portland and includes a diverse collection of older residential neighborhoods, interconnected by commercial corridors, with large-scale industrial centers located on its western and northern edges.

Investment focuses on projects and programs that facilitate development of underutilized land and/or revitalize existing building stock; stimulate and invest in business development and quality job growth; maintain affordable housing opportunities and support services; improve transportation infrastructure and expand transportation options creating a pedestrian-friendly environment; and improve quality of life amenities such as parks and trails, historic and cultural resources, and community facilities.

One program in particular is the Clean Energy Program where the Portland Development Commission partners with public and private entities funding Clean Energy Works Oregon.  It provides financing for energy-efficient retrofits for neighborhood single-family residential properties.  By the end of 2013, the program aims to create or retain 1,300 jobs; complete 6,000 home energy retrofits; retrofit 3.5 million square feet of commercial buildings; save more than 300,000 MBTUs of energy; and reduce measure-life carbon dioxide by 200,000 metric tons.  Another initiative is the Portland Development Commission's Business Incentive Fund which supports economic development in target industry clusters (i.e. Clean Technology, Athletic and Outdoor), high growth businesses and neighborhood revitalization.  In addition, funds are available through the Green Features Grant Program which is intended to generate interest in sustainable design and practices in Portland.

"We promote environmental, economic, and social sustainability, beginning with our own actions," said Ben Vitale, president, The Climate Trust. "This guiding principle drives our impact investing criteria.  We are very excited to see our investment support economic development that stimulates job growth and a healthy and sustainable community, including improvements to housing, infrastructure, and the environment."

The Interstate Corridor Urban Renewal Area was formed on August 23, 2000, and takes its name from Interstate Avenue, a major arterial extending through the renewal area that historically has linked Portland to the State of Washington.  The area is Portland's largest urban renewal area, comprising 3,804 acres.

"We are thrilled to participate in this offering," said Barbara VanScoy, senior portfolio manager at Community Capital Management. "These activities are critically important given the current economy and the much-needed demand for job creation, affordable housing, and environmental sustainability."

Community Capital Management is a fixed income manager specializing in impact and sustainable fixed income investing. To date, the firm has invested approximately $4.1 billion in fixed income investments that finance economic and environmentally sustainable initiatives throughout the United States.

About Community Capital Management, Inc. and the CRA Qualified Investment Fund

Community Capital Management, Inc. is a Fort Lauderdale-based SEC-registered investment adviser.  The firm was founded in 1998 to provide fixed income investment services to institutional investors.  Its clients include public funds, foundations, financial institutions, faith-based investors, and mission-related investors.  The CRA Qualified Investment Fund was launched in 1999 and has grown to include investments from more than 300 banks/thrifts and other types of investors interested in its impact investing strategy. Community Capital Management manages over $1 billion in assets and offers institutional investors its investment strategy via a separate account or a mutual fund.  For more information, please visit www.ccmfixedincome.com.

Investing involves risk including the loss of principal.  Bonds and bond funds are subject to interest rate risk and will decline in value as interest rates rise.  The Fund is non-diversified. Carefully consider the risks, investment objectives, charges and expenses of the Fund before investing. The prospectus contains this and other important information. Call 866-202-3573 for a prospectus. Please read the prospectus carefully before investing. As of 9/30/11, this investment represents 0.03% of the fund's assets. The CRA Qualified Investment Fund is distributed by SEI Investments Distribution Co. (SIDCO) which is not affiliated with Community Capital Management or any other affiliate.

About The Climate Trust

The Climate Trust is a 501(c)(3) nonprofit organization with over 10 years of carbon market experience. Our mission is to provide expertise, financing, and inspiration to accelerate innovative climate solutions that endure. In order to arrest the rise in greenhouse gas emissions and to avoid the most dangerous impacts of climate change, The Climate Trust works to accelerate project implementation, develop financing solutions, and establish a supportive policy environment in the renewable energy, agriculture, forestry, energy efficiency and transportation sectors. For more information, visit www.climatetrust.org.

SOURCE Community Capital Management, Inc.

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