NMTC Morning Roundup – June 18, 2014
The Oregonian profiles United Fund Advisors and Ecotrust, two Portland-based CDEs that received a combined $90 million in allocation in the most recent round:
…for the newest round of tax credits, said Portland Family of Funds executive chair Carl Talton, the firm will prioritize investments in Oregon businesses, particularly rural Oregon. He said the firm has a pipeline of project possibilities and business relationships in place.
The Missoulan profiles Montana Community Development Corporation, winners of a $55 million allocation in the most recent round:
The new Poverello Center homeless shelter and the shiny, energy-efficient Garlington, Lohn and Robinson building in Missoula both were financed in part by new market tax credits allocated by the MCDC. Neither project would have been the same without the financing.
And in the Arkansas Business Journal has the details on the NMTC’s role in financing a 19,000-SF youth development center in Little Rock.
Our House Inc.’s $5 million Children’s Center that opened June 7 was paid for with help from New Markets Tax Credits. In September, the Little Rock nonprofit that helps homeless adults and children with housing, job training and education, closed on a $5 million New Markets Tax Credits deal; the credits are issued by the U.S. Treasury. “It’s really an innovative financing model,” said Georgia Mjartan, Our House’s executive director.