SOURCE: United Fund Advisors

United Fund Advisors

January 27, 2010 11:30 ET

United Fund Advisors and U.S. Bancorp Finance Wind Project in Washington

PORTLAND, OR--(Marketwire - January 27, 2010) - Coastal Community Action Program (CCAP) has announced that it received financing for its six megawatt wind development near Grayland, WA. The four turbine system is already under construction and is planned to be operational in June. The project's electricity revenues will be used to enhance CCAP's existing community services.

CCAP is a nonprofit social services group dedicated to enhancing the quality of life of individuals, families, the elderly, children, and people with disabilities in Grays Harbor and Pacific Counties. Some of CCAP's services include transitional housing for homeless families; school supplies to low-income children; work opportunities for developmentally disabled adults; in-home care for the elderly; and HIV/AIDs services. Please see for a complete listing of services.

United Fund Advisors' (UFA) affiliate, National Community Fund I, LLC and a subsidiary of U.S. Bancorp (NYSE: USB) continued their long standing partnership of providing tax equity financing to projects throughout the nation. On the CCAP project, UFA and U.S. Bancorp monetized $7 million of New Markets Tax Credit allocation in addition to the available renewable energy Investment Tax Credits.

"At UFA, we ensure that each of our investments has a meaningful social or environmental impact," said Chris Hasle, Principal, UFA. "The CCAP project is a home run for everyone because it has tremendous returns for both the second and third bottom lines. Projects like CCAP go to the top of UFA's investment priority list and we are actively seeking new projects that can deliver similar triple bottom line returns."

"The CCAP project provided another example of the flexibility of the New Markets Tax Credit Program. By combining the tax benefits of both renewable energy and New Markets Tax Credits, CCAP was able to expand the definition of community impact. This project demonstrates that the development of renewable energy sources will, and should be, included in community impact studies across the country," said Darren Van't Hof, Vice President of New Markets, Historic, and Renewable Energy Tax Credit Investments at U.S. Bancorp Community Development Corporation.

The six megawatt wind system will be installed off the coast in Grays Harbor and Pacific Counties in Washington. The system is estimated to produce 13,500,000 kWh of clean energy annually.

About United Fund Advisors

UFA is a financial services company that develops and employs triple bottom line investment strategies. UFA manages real estate and energy investment funds, structures financings, sources debt and equity, provides regulatory compliance management, and performs community impact and investor reporting services for its own funds and a national clientele. All of UFA's fund management and advisory services are driven by its mission "to create opportunities for profitable investments which enhance social and environmental yields." The firm has successfully leveraged various federal and state tax credits to help finance more than 40 projects with total project costs of over $1.4 billion. For further information, visit

About National Community Fund I, LLC

National Community Fund I, LLC, is a certified community development entity which has received a total of $175 million of NMTC allocation since 2007. Portland Family of Funds Holdings, Inc. is NCF's controlling entity and United Fund Advisors serves as its financial advisor. The affiliated Portland, Oregon-based companies are triple bottom line missioned firms which create profitable investments that provide financial, social and environmental returns. For more information, please visit and

About U.S. Bancorp

With $265 billion in assets, U.S. Bancorp is the parent company of U.S. Bank, which is the 6th largest commercial bank in the United States. Through U.S. Bank, U.S. Bancorp, and other subsidiaries, the company operates more than 3,000 banking offices in 25 states, additional specialized offices across the U.S. and in several foreign countries, Internet and telephone banking, and over 5,170 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at

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