Located on Martin Luther King, Jr. Drive on Atlanta's Westside, the Leadership & Leadership Center is the YMCA of Metropolitan Atlanta's headquarters. It also houses a state-of-the-art model Head Start/Early Learning Center for approximately 90 children and a training center for YMCA staff across Georgia.
Columbia Capital provided comprehensive NMTC advisory services for the Y, including conceptual financing design, security NMTC allocation, identifying the investor, assisting the Y in selecting other members of the financing team, working closely with the Y's financing partners to coordinate the documentation process, and assisting the Y post-closing in interactions with its auditors and its QALICB board of directors.
The design of the project carefully incorporated portions of the facade of the former Jordan Hall. According to the Atlanta Preservation Center, Jordan Hall originally opened as the the Edmund Asa Ware School, in 1922 as one of the first elementary schools for African American children in Atlanta. Jordan Hall later became part of Morris Brown College, the first black-owned and -operated educational institution in Georgia.
Total development costs for the 54,000 sf facility were approximately $45 million. Columbia Capital secured $22 million in Federal NMTC allocation from MBS Urban Initiatives, Atlanta Emerging Markets, Inc.; and SunTrust Community Capital. The capital stack included self-leverage from the YMCA (with a fundraising source loan separate from the NMTC capital stack) and $2.5 million in Tax Allocation District funds from the City of Atlanta.
Columbia Capital Management, LLC is a registered with the US Securities and Exchange Commission (SEC) and the Municipal Securities Rulemaking Board (MSRB) as a municipal advisor. The firm is also registered with the SEC as a registered investment adviser. Columbia Capital has a statutory duty to serve its governmental clients as a fiduciary.