CIDC’s President and CEO, Mr. Loewenstein has over three decades experience in the economic and housing development fields. He is knowledgeable in a full range of federal, state and local housing and economic development programs. Loewenstein specializes in the empowerment of public/private partnerships, working with non-profits and establishing self-sustaining local delivery systems.
Loewenstein spearheads CIDC development efforts. CIDC has developed several hundred housing units and more than $30 million in public benefit facilities owned by CIDC affiliates. He also directs CIDC, state and local contract delivery systems.
Section 108 Loan Program
He has underwritten hundreds of millions of dollars of Section 108 applications for public clients in New York, New Jersey, Pennsylvania, Michigan, California and Florida. During his tenure with the National Development Council, Loewenstein was one of a select group chosen to assist HUD with the design and implementation of the Section 108 Loan Program. As a consultant to the New Jersey Economic Development Authority (NJEDA), Lowenstein worked with the agency to establish the first statewide 108 loan fund for under-served communities.
Technical Assistance – HUD
Loewenstein has provided Technical Assistance to the U. S. Department of Housing and Urban Development, working with area and state offices in Buffalo, New York; Newark, New Jersey, San Francisco and Los Angeles, California under grants for the CDBG, HOME and CHDO programs.
New Market Tax Credit
He has structured and conducted training sessions on the New Market Tax Credit Program for several clients and assisted NJEDA in obtaining a New Market Tax Credit allocation.
Loewenstein has underwritten hundreds of millions of dollars for office, shopping center, and industrial projects; established MICRO loan programs and drafted hundreds of millions of dollars of successful Section 108 loan applications.
He worked with the NJEDA to create a statewide pool of 86 members of the Federal Home Loan Bank Board who were willing to extend both construction and permanent loans to projects that qualified under the CIP program.