Community Investment Corporation

Cic's home ownership support services empower first-time homebuyers across arizona, particularly in pima county, by providing essential financial assistance. Through our mortgage credit certificate (mcc) program, income- qualified buyers can reduce their annual mortgage interest by claiming up to 2,000 as a federal tax credit. This benefit is renewable each year, adding up to potential savings of over 50,000 across the life of the mortgage. The mcc program is funded by the pima county industrial development authority. In addition to the mcc program, we administer down payment assistance programs in tucson and pima county. Cic also serves as the fiscal agent for city of tucson processing payments for contracts that support work for homelessness diversion and prevention.

Cic's bond compliance program served 61 different public schools or school networks through 75 separate bond agreements generating nearly 210,000 in revenues. Bond compliance services consist of supporting bond recipients (schools) with their contractual obligations to provide continuing disclosure information to the electronic municipal market access (emma) website. These disclosures serve an essential role for a properly and efficiently functioning bond market by enhancing transparency for investors and in the bond market at large, as well as helping preserve/enhance schools' bond ratings. Cic also maintains the "my schools" website and does outreach to preschool parents to assist with finding the best school to fit the child's needs.