Recent NMTC Project Round-up

Our occasional round-up of NMTC closings:

NCB partners with Wright-Patt CU to provide $16 million to Five Rivers Health Centers' new facility

Dayton, OH

National Cooperative Bank (NCB) along with Wright-Patt Credit Union, (WPCU) recently closed a $16 million loan to support a $31.6 million New Markets Tax Credit (NMTC) financing package for the development of a 2 ½ story, 84,000 sq. ft. healthcare facility on four acres of land in Dayton.

The facility will replace five existing leased clinic spaces and will provide integrated and expanded services in one location. Five Rivers new facility will be known as the Edgemont Campus. NCB and WPCU will each provide a term in loan in the amount up to $8 million

Choctaw tribe's educational efforts boosted by tax credit

Walnut Grove, MS

The Mississippi Band of Choctaw Indians recently closed a New Markets Tax Credit transaction related to its two new early childhood education centers and an elementary school expansion — resulting in a $2.3 million benefit to the Tribe.

The Tribe opened both the Pearl River and Standing Pine Early Childhood Education Center(s) and the Pearl River Elementary School expansion in late 2020.

Healthy Living Hub Is Centerpiece Of Big Plans For Auburn Gresham

Chicago, IL

A vacant, four-story building in the South Side’s Auburn Gresham neighborhood will be redeveloped as a healthy living hub.

NTCIC’s Latest Main Street Project Will Restore a Baltimore Landmark

Baltimore, MD

NTCIC announces the closing of $1.7 million in New Markets Tax Credit allocation for the historic Odell’s building in Baltimore, MD. The redevelopment efforts will reactivate the 18,000 square foot landmark that was once home to a dance academy with royal ties, as well as the famous Odell’s nightclub. It will continue the growth of Baltimore’s Arts District and become the North Avenue Educational Hub, a new home to two local nonprofit organizations dedicated to enriching the lives of students, Young Audiences of Maryland and Code in the Schools. This is the 9th project to be supported through NTCIC’s Irvin Henderson Main Street Revitalization Fund.
Share on facebook
Share on twitter
Share on linkedin
Share on pinterest