Citi was once again recognized as the largest affordable housing lender in the Country, according to Affordable Housing Finance (AHF) Magazine’s annual survey of affordable housing lenders. This marks the eleventh consecutive year that Citi has earned this distinction. Citi Community Capital, the bank unit through which Citi works to finance all types of affordable housing and community development projects, reported over $7 billion of lending to finance affordable rental housing projects in 2020. “Being the number one financer of affordable housing is more than a badge of honor. It’s validation of everything we stand for at Citi,” said Jane Fraser, Chief Executive Officer of Citi. “We are in the business of helping people advance economically and pursue their ambitions. None of that’s possible unless you have a safe, stable place to call home.” Total lending and investing by Citi Community Capital in 2020 was over $8.2 billion in affordable housing, education, healthcare and small businesses across 216 U.S. cities. Recent transactions included: $85 million construction to $85 million permanent loan to finance The AJ, a 345 unit multifamily development in Sacramento, CA. The property, located in the Railways, will be the nation’s largest infill development project and will transform 244 acres of historically significant land into a thriving mixed-use community. Citi also provided a $10 million construction loan and $4.9 million permanent loan for the renovation of the Commons at Martineztown, a 96-unit affordable housing development in Albuquerque, NM. Through the RAD program the apartment community was converted from public housing units into affordable housing with long-term affordability preserved, along with much needed property upgrades. In addition, Citi provided funding for Far Rockaway Village, a planned, multi-phase, multi-building redevelopment of under-utilized land in Downtown Far Rockaway, Queens, New York. The development will be completed in an estimated four phases, and upon completion will consist of approximately 1,700 apartments, 100,000 square feet of retail space, and on-site parking. The Project is the largest residential development planned under the Downtown Far Rockaway neighborhood re-zoning plan. “In spite of all the issues the industry is confronting as a result of the pandemic, 2020 appears to have been the most active in terms of the number of projects financed in quite some time,” said Kathy Millhouse, Co-Head of Citi Community Capital. “Citi was able to quickly adapt to change and worked with local and state governments, as well as the development community in helping to increase the production of affordable housing units within the communities we live and work.” “We congratulate Citi Community Capital on this milestone. Overall, Affordable Housing Finance’s Top 25 affordable housing lenders provided over $53.6 billion in permanent and construction loans to developments that serve families and individuals earning up to 80% of the area median income in 2020. This is up from the AHF Top 25 lenders’ $41 billion in 2019 and $35.2 billion in 2018,” said Rob Britt, Vice President of the Multifamily Group at Zonda, Affordable Housing Finance’s publisher. “The COVID-19 pandemic has only exacerbated the nation’s affordable housing crisis, and we appreciate the top lenders’ commitment and perseverance during a year filled with disruption." Reaching over 27,000 subscribers in print and online, Affordable Housing Finance is the only national publication serving owners, developers, managers, and investors involved in the production and preservation of affordable housing. The full “Top 25 Affordable Housing Lenders of 2020” survey can be found at https://www.housingfinance.com/finance/despite-covid-19-affordable-housing-lending-remains-strong_o In 2020, Citi and the Citi Foundation announced more than $1 billion in strategic initiatives to help close the racial wealth gap and increase economic mobility in the United States. As part of this effort, Citi Community Capital is working to deploy $200 million of equity to affordable and workforce housing projects with minority managers. In addition, Citi announced the issuance of its first Affordable Housing Bond. The transaction consisted of a $2.5 billion 4-year non-call 3-year fixed to floating rate note issuance, the largest-ever social bond from an issuer in the private sector. The use of proceeds from the bond will finance the construction, rehabilitation and preservation of quality affordable housing for low-and moderate-income populations in the United States, building on its record as the largest financer of affordable housing in the country.

Citi was once again recognized as the largest affordable housing lender in the Country, according to Affordable Housing Finance (AHF) Magazine&rsquo;s annual survey of affordable housing lenders. This marks the eleventh consecutive year that Citi has earned this distinction. Citi Community Capital, the bank unit through which Citi works to finance all types of affordable housing and community development projects, reported over $7 billion of lending to finance affordable rental housing projects in 2020.
&ldquo;Being the number one financer of affordable housing is more than a badge of honor. It&rsquo;s validation of everything we stand for at Citi,&rdquo; said Jane Fraser, Chief Executive Officer of Citi. &ldquo;We are in the business of helping people advance economically and pursue their ambitions. None of that&rsquo;s possible unless you have a safe, stable place to call home.&rdquo;
Total lending and investing by Citi Community Capital in 2020 was over $8.2 billion in affordable housing, education, healthcare and small businesses across 216 U.S. cities. Recent transactions included: $85 million construction to $85 million permanent loan to finance The AJ, a 345 unit multifamily development in Sacramento, CA. The property, located in the Railways, will be the nation&rsquo;s largest infill development project and will transform 244 acres of historically significant land into a thriving mixed-use community. Citi also provided a $10 million construction loan and $4.9 million permanent loan for the renovation of the Commons at Martineztown, a 96-unit affordable housing development in Albuquerque, NM. Through the RAD program the apartment community was converted from public housing units into affordable housing with long-term affordability preserved, along with much needed property upgrades. In addition, Citi provided funding for Far Rockaway Village, a planned, multi-phase, multi-building redevelopment of under-utilized land in Downtown Far Rockaway, Queens, New York.&nbsp; The development will be completed in an estimated four phases, and upon completion will consist of approximately 1,700 apartments, 100,000 square feet of retail space, and on-site parking.&nbsp; The Project is the largest residential development planned under the Downtown Far Rockaway neighborhood re-zoning plan.&nbsp; 
&ldquo;In spite of all the issues the industry is confronting as a result of the pandemic, 2020 appears to have been the most active in terms of the number of projects financed in quite some time,&rdquo; said Kathy Millhouse, Co-Head of Citi Community Capital. &ldquo;Citi was able to quickly adapt to change and worked with local and state governments, as well as the development community in helping to increase the production of affordable housing units within the communities we live and work.&rdquo;
&ldquo;We congratulate Citi Community Capital on this milestone. Overall, Affordable Housing Finance&rsquo;s Top 25 affordable housing lenders provided over $53.6 billion in permanent and construction loans to developments that serve families and individuals earning up to 80% of the area median income in 2020. This is up from the AHF Top 25 lenders&rsquo; $41 billion in 2019 and $35.2 billion in 2018,&rdquo; said Rob Britt, Vice President of the Multifamily Group at Zonda, Affordable Housing Finance&rsquo;s publisher. &ldquo;The COVID-19 pandemic has only exacerbated the nation&rsquo;s affordable housing crisis, and we appreciate the top lenders&rsquo; commitment and perseverance during a year filled with disruption."
Reaching over 27,000 subscribers in print and online, Affordable Housing Finance is the only national publication serving owners, developers, managers, and investors involved in the production and preservation of affordable housing. The full &ldquo;Top 25 Affordable Housing Lenders of 2020&rdquo; survey can be found at <a style="text-decoration: underline;" href="https://www.housingfinance.com/finance/despite-covid-19-affordable-housing-lending-remains-strong_o" target="_blank" rel="noopener">https://www.housingfinance.com/finance/despite-covid-19-affordable-housing-lending-remains-strong_o</a>
In 2020, <a style="text-decoration: underline;" href="https://www.businesswire.com/news/home/20200923005272/en/Citi-Launches-More-Than-1-Billion-in-Strategic-Initiatives-to-Help-Close-the-Racial-Wealth-Gap" target="_blank" rel="noopener">Citi and the Citi Foundation announced more than $1 billion in strategic initiatives to help close the racial wealth gap and increase economic mobility in the United States</a>. As part of this effort, Citi Community Capital is working to deploy $200 million of equity to affordable and workforce housing projects with minority managers.
In addition, <a style="text-decoration: underline;" href="https://www.businesswire.com/news/home/20201030005132/en/Citi-Announces-Inaugural-2.5-Billion-Affordable-Housing-Bond-Issuance-and-Largest-Ever-Social-Bond" target="_blank" rel="noopener">Citi announced the issuance of its first Affordable Housing Bond</a>. The transaction consisted of a $2.5 billion 4-year non-call 3-year fixed to floating rate note issuance, the largest-ever social bond from an issuer in the private sector. The use of proceeds from the bond will finance the construction, rehabilitation and preservation of quality affordable housing for low-and moderate-income populations in the United States, building on its record as the largest financer of affordable housing in the country.

Bank Provides Over $7 Billion to Finance Affordable Housing Projects in 2020SM

Citi Recognized as an Eleven-Time Industry Leader in Affordable HousingSM

Citi prides itself on being able to meet the needs of global clients. In this video, we look at the rich history of San Francisco and see how Citi has folded itself into the community.

Around the World With Citi: San Francisco

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For anyone who grew up watching after-school or Saturday morning television, cartoons like The Jetsons and the vision of George Jetson getting into his spaceship and commuting to work on a space highway is a familiar memory. That 1960s vision of how the future world would look was influenced by the race to be the first to land on the moon and the beginnings of real advancements in computer development. Although we’re not all jumping into our spaceships to get to the office, there has been an amazing transformation in automobile technology over the past 40-plus years. And this is just the beginning. In this Car of the Future report, we attempt to explain and evaluate those global automotive technologies that will shape tomorrow’s cars — from assembly and safety to fuel. In identifying and evaluating these future technologies, we also put together a basic investor framework that evaluates the potential for each technology by asking some simple questions — things like “Is there a specific regulatory driver?” or “Is it reasonably affordable to consumers?” We think this is a good starting point for sorting through the plethora of opportunity and change that’s out there. Regulation plays an important role as a driver for some of the change that’s coming up. New regulation on fuel efficiency is leading manufacturers to decrease the weight of vehicles through lightweighting of materials. New operating models like car sharing are changing the way that we traditionally think of vehicle sales and affordable/low-cost green cars are increasing the global statistics for car ownership while being environmentally considerate. After years of fits and starts, electric vehicles are finally starting to get some traction as advances in battery technology improve drive time and the prospect of a battery operator model could be the path to a low-cost vehicle. Alternative fuel sources (compressed natural gas and fuel cell vehicles) are also helped by global regulatory requirements that are now largely enacted and are stringent on emissions reduction. Where we may be coming closest to the Jetson spaceship is in technology — the Connected Car. Auto parts manufacturer Continental forecasts growth in telematics of around 34% from now until 2020 versus market growth of 4%, reflecting the convergence of active safety through advanced drive assistance systems and embedded connectivity. The driver's seat will soon resemble a cockpit with heads-up displays and personalized interfaces driven both by technological advances and consumer demand. What about a self-driving car? The foundation for autonomous driving already exists and can be seen through the new advanced driver assistance systems, but it’s not likely to be a commercial reality before 2025. And who knows? We could all be driving spaceships to work by then.

For anyone who grew up watching after-school or Saturday morning television, cartoons like The Jetsons and the vision of George Jetson getting into his spaceship and commuting to work on a space highway is a familiar memory. That 1960s vision of how the future world would look was influenced by the race to be the first to land on the moon and the beginnings of real advancements in computer development. Although we’re not all jumping into our spaceships to get to the office, there has been an amazing transformation in automobile technology over the past 40-plus years. And this is just the beginning.In this Car of the Future report, we attempt to explain and evaluate those global automotive technologies that will shape tomorrow’s cars — from assembly and safety to fuel. In identifying and evaluating these future technologies, we also put together a basic investor framework that evaluates the potential for each technology by asking some simple questions — things like “Is there a specific regulatory driver?” or “Is it reasonably affordable to consumers?” We think this is a good starting point for sorting through the plethora of opportunity and change that’s out there.Regulation plays an important role as a driver for some of the change that’s coming up. New regulation on fuel efficiency is leading manufacturers to decrease the weight of vehicles through lightweighting of materials. New operating models like car sharing are changing the way that we traditionally think of vehicle sales and affordable/low-cost green cars are increasing the global statistics for car ownership while being environmentally considerate.After years of fits and starts, electric vehicles are finally starting to get some traction as advances in battery technology improve drive time and the prospect of a battery operator model could be the path to a low-cost vehicle. Alternative fuel sources (compressed natural gas and fuel cell vehicles) are also helped by global regulatory requirements that are now largely enacted and are stringent on emissions reduction.Where we may be coming closest to the Jetson spaceship is in technology — the Connected Car. Auto parts manufacturer Continental forecasts growth in telematics of around 34% from now until 2020 versus market growth of 4%, reflecting the convergence of active safety through advanced drive assistance systems and embedded connectivity. The driver's seat will soon resemble a cockpit with heads-up displays and personalized interfaces driven both by technological advances and consumer demand.What about a self-driving car? The foundation for autonomous driving already exists and can be seen through the new advanced driver assistance systems, but it’s not likely to be a commercial reality before 2025. And who knows? We could all be driving spaceships to work by then.

Transforming Mobility As We Know It

THE CAR OF THE FUTURE

Elizabeth Curmi

Jason B Bazinet

Ashwin Shirvaikar

Anthony Yuen

Graeme McDonald

Thomas A Singlehurst

Andrew S Baum

Jim Suva

Michael Rollins

Martin Wilkie

Dennis Chan

Amit B Harchandani

Dan F Homan

Arthur Lai

Yigal Nochomovitz

Ten More Things to Stop and Think About Every morning my inbox is filled with a mixture of emails – request emails that require me to take action and informational emails to keep me up to date about what’s new in the world. My strategy with request emails is the same as my strategy playing tennis – when one comes into my court the best thing to do is to reply quickly and ‘get it back over the net’ into the senders court. But the information emails are different. Sometimes they’re read right away, sometimes they’re skimmed and deleted and sometimes they’re read and filed. Whatever happens to those emails, the information in them gets tucked somewhere in my brain. One thing that’s different about my daily inbox over the past four years is that the informational emails are more and more filled with stories about disruptive innovation and even more excitingly, about the disruptive innovations that we’ve highlighted in past Citi GPS reports. Whether it be 3D printing, virtual reality gaming, immunotherapy or digital banking, disruption and accelerating technological change is increasingly part of our everyday conversation. So where is all of this innovation happening? With innovation clusters scattered throughout the world, in places like Silicon Valley, Boston, London, Stockholm, and China we wanted to see if there was a recipe for success that other regions could follow. In the first chapter of the report, we look at the factors affecting different regions and find that the majority of the successful clusters thrive in an open, global environment where knowledge sharing is at the core of their activities. In our new report, we once again look at some of the newest concepts across sectors and identify new products which could potentially disrupt the marketplace. Some of the concepts are familiar, i.e. big data, robotics and on-line retailing, but the application of these concepts is very different than in the past. Big data is playing a significant role in the energy sector and being used across the entire energy value-chain, from finding energy faster and producing it more inexpensively in the upstream, to more customized energy at the downstream user level. Robots are not just being built and utilized in the automotive industry, but are now being produced with open source software which will boost collaborative development and potentially shifts the use of robots in a much wider range of end markets. And in retail, beyond the shift from physical retail to online retail, we are now exploring direct-to-consumer marketplace for fashion where consumers can order direct from the manufacturer and bypass the retailer. Contextual Commerce is also changing the nature of e-commerce by introducing content and intent to the online experience and could lower the rate of online shopping cart abandonment. Immunotherapy was the newest disruptive treatment for cancer treatment but now epigenetics are being developed to increase the effectiveness of immunotherapy as well as become another tool in a doctor’s cancer toolbox. Doctor’s will also be helped by new delivery systems for the eye – next gen ocular drug delivery – which increase effectiveness of eye treatments and the ease of delivery. New innovations in smart box technology to create Home Hubs and innovations in screen materials that will allow mobile phones to move away from their current shape and potentially have no shape are both looked at in the pages that follow. Finally, we look at new advances in subsea pipes that will reduce the cost of deepwater drilling and new developments in wideband semiconductors which will increase performance with every smaller sized devices. Can’t wait for these to hit my inbox! Authors: Andrew S Baum,Jason B Bazinet,Dennis Chan,Elizabeth Curmi, PhD.,Amit B Harchandani,Dan F Homan,Arthur Lai,Graeme McDonald,Yigal Nochomovitz, Ph.D.,Michael Rollins, CFA,Ashwin Shirvaikar, CFA,Thomas A Singlehurst, CFA,Jim Suva, CPA,Martin Wilkie,Anthony Yuen,

<h2>Ten More Things to Stop and Think About</h2> <h3>Every morning my inbox is filled with a mixture of emails – request emails that require me to take action and informational emails to keep me up to date about what’s new in the world. My strategy with request emails is the same as my strategy playing tennis – when one comes into my court the best thing to do is to reply quickly and ‘get it back over the net’ into the senders court. But the information emails are different. Sometimes they’re read right away, sometimes they’re skimmed and deleted and sometimes they’re read and filed. Whatever happens to those emails, the information in them gets tucked somewhere in my brain.</h3> One thing that’s different about my daily inbox over the past four years is that the informational emails are more and more filled with stories about disruptive innovation and even more excitingly, about the disruptive innovations that we’ve highlighted in past Citi GPS reports. Whether it be 3D printing, virtual reality gaming, immunotherapy or digital banking, disruption and accelerating technological change is increasingly part of our everyday conversation. So where is all of this innovation happening? With innovation clusters scattered throughout the world, in places like Silicon Valley, Boston, London, Stockholm, and China we wanted to see if there was a recipe for success that other regions could follow. In the first chapter of the report, we look at the factors affecting different regions and find that the majority of the successful clusters thrive in an open, global environment where knowledge sharing is at the core of their activities. In our new report, we once again look at some of the newest concepts across sectors and identify new products which could potentially disrupt the marketplace. Some of the concepts are familiar, i.e. big data, robotics and on-line retailing, but the application of these concepts is very different than in the past. Big data is playing a significant role in the energy sector and being used across the entire energy value-chain, from finding energy faster and producing it more inexpensively in the upstream, to more customized energy at the downstream user level. Robots are not just being built and utilized in the automotive industry, but are now being produced with open source software which will boost collaborative development and potentially shifts the use of robots in a much wider range of end markets. And in retail, beyond the shift from physical retail to online retail, we are now exploring direct-to-consumer marketplace for fashion where consumers can order direct from the manufacturer and bypass the retailer. Contextual Commerce is also changing the nature of e-commerce by introducing content and intent to the online experience and could lower the rate of online shopping cart abandonment. Immunotherapy was the newest disruptive treatment for cancer treatment but now epigenetics are being developed to increase the effectiveness of immunotherapy as well as become another tool in a doctor’s cancer toolbox. Doctor’s will also be helped by new delivery systems for the eye – next gen ocular drug delivery – which increase effectiveness of eye treatments and the ease of delivery. New innovations in smart box technology to create Home Hubs and innovations in screen materials that will allow mobile phones to move away from their current shape and potentially have no shape are both looked at in the pages that follow. Finally, we look at new advances in subsea pipes that will reduce the cost of deepwater drilling and new developments in wideband semiconductors which will increase performance with every smaller sized devices. Can’t wait for these to hit my inbox! Authors: Andrew S Baum,Jason B Bazinet,Dennis Chan,Elizabeth Curmi, PhD.,Amit B Harchandani,Dan F Homan,Arthur Lai,Graeme McDonald,Yigal Nochomovitz, Ph.D.,Michael Rollins, CFA,Ashwin Shirvaikar, CFA,Thomas A Singlehurst, CFA,Jim Suva, CPA,Martin Wilkie,Anthony Yuen,

Ten More Things to Stop and Think About

DISRUPTIVE INNOVATIONS IV

YM98027 - GROWTH &amp; PROSPERITY- video - GROWTH &amp; PROSPERITY- video&nbsp;
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DISRUPTIVE INNOVATIONS IV

THE CAR OF THE FUTURE

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