Washington D.C. Coalition for Capital

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Enhanced Capital is Proud to Announce its Investment in the Capital Area Food Bank

December 17, 2010

Enhanced Community Development, LLC Provides $9.6 Million Of New Markets Tax Credit Allocation to Capital Area Food Bank, the Largest Nonprofit Hunger and Nutrition Education Resource in the Washington Metropolitan Area.

DISTRICT OF COLUMBIA – Enhanced Community Development, LLC (ECD), a leading New Markets Tax Credit (NMTC) community development entity, recently provided $9.6 million of NMTC allocation to a tax credit financing transaction with the Capital Area Food Bank (CAFB), the largest nonprofit hunger and nutrition education resource in the Washington Metropolitan Area. The transaction will allow CAFB to build a new distribution facility that will ultimately enable it to accept, sort and distribute twice as much food and household necessities into the community.

“We are thrilled to participate in a transaction that will allow CAFB to build a new food distribution center, which will better address the challenges of reducing hunger and malnutrition in the Washington Metropolitan Area and help to drastically decrease food waste and inefficient food distribution,” said Richard Montgomery, ECD’s Managing Director. “Additionally, this project will help stimulate the local economy by creating over 150 construction jobs.”

In addition to doubling its capacity over time, the new facility will allow CAFB to greatly expand its meeting, training and administrative spaces in order for staff and CAFB’s 700 partner agencies to better serve the surrounding community. Lynn Brantley, CAFB’s President and CEO, said, “This transaction comes at a critical time for the growth of the food bank. The benefits of the New Markets Tax Credit program provided us with the additional capital that allowed us to expedite the development of our new facility.”

JPMorgan Chase, a leading global financial services company, was the tax credit equity investor in the transaction. “JPMorgan Chase is committed to investing in projects that have a positive and sustainable impact on the communities where we do business," said En Jung Kim, vice president, Chase Community Development Banking. "This new facility will provide better resources to help the Capital Area Food Bank reduce hunger by feeding more people in the community.”

About Capital Area Food Bank

CAFB is the largest non-profit hunger and nutrition education resource in the Washington Metropolitan area. CAFB currently distributes 27 million pounds of food, including 10.8 million pounds of fresh produce, to more than 478,000 people annually and is committed to uplifting those in need, providing the best services possible, and helping those who are without the means to help themselves. Located in Northeast Washington D.C., CAFB has distributed nearly $600 million of food and other necessities into the community since its founding in 1980.

About Enhanced Capital

Enhanced Capital Partners, Inc. (www.enhancedcap.com) is the controlling entity of ECD and a national private investment firm specializing in investments in small and mid-sized companies to further economic development in strategic areas. Enhanced has offices in New York, Alabama, Colorado, Louisiana, Tennessee, Texas and Washington D.C. ECD is a community development entity that has received an aggregate of $85 million of NMTC allocation.

About JPMorgan Chase

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.1 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.