The NMTC has proved itself to be a valuable catalytic resource, filling the gap to make projects happen, especially of benefit to low-moderate income households, that otherwise, quite frankly, without it, many projects would never have been completed, which are serving thousands of people every day.
-Larry Lallo, Merritt Island Redevelopment Agency, Merritt Island, FL
Providing housing for people of all incomes is critical and not nearly enough exists. Having a safe, affordable place to live is fundamental for well being of our communities.
-Jennifer Eskildsen, SFHDC, San Francisco, California
We just used a $12 million NMTC allocation to finance the building of a Domestic and Sexual Violence Shelter and homeless shelter for families. This would not have happened – at least at the capacity that it did – without NMTCs. Numerous women, men, and children will be safe and off the streets in Missoula because of this project.
-Barbara Callaghan, SVP, First Security Bank of Missoula, Missoula, Montana
I work in low income communities and we need these types of options to attract investors to revitalize rural and low income communities.
-Ann Theis, Better City, Raton, NM
NMTCS provide opportunities to fund both small business transactions enabling direct debt support for companies with higher risk profiles that according the Federal Reserve’s 2018 Study do not attract or receive the credit required to grow, yet form the base for 2/3rds of the nation’s job growth and funding of larger leveraged transactions that support manufacturers, healthcare and education, all improving the access to necessities for our disadvantaged communities to form long-term platforms for sustainable growth. Without this flexible resource the capital needs required by these divergent yet necessary components of community stability and growth could not be efficiently and effectively served.
-Michael Ross, Investment Director, The Business Valued Advisor Fund, Austin, Texas
Endeavour is a Milwaukee-based real estate development company that has closed over 40 NMTC deals in over 15 states. Our projects range from a Native American community health care clinic to a veteran recovery center to a food desert grocery store deal. Without the NMTC program, these deals would not have happened. Endeavour recognizes the importance of the program and wishes to stress the importance of this program to all federal delegations.
-Randall Roth, Endeavour, Milwaukee, AL
The NMTC literally saved us well over $1,000,000 that we can put directly into our classrooms to support our students. We focus on literacy for low-income, minority students, and the NMTC directly and positively impacted our bottom line so that we could focus on providing quality staff and services to our students.
-Randal Shaffer, Trinity Basin Preparatory, Inc., Grand Prairie, Texas
“I’m thoroughly impressed. I can’t think of anything else that would give that building such a long-term future in Rogers as Haas Hall taking up residence, adapting the building, reusing it and giving it new life.”
-John Burroughs, executive director of the Rogers Historical Museum
We used NMTCs to build our new campus, repurposing a derelict Kmart building. Not only did we turn a community eyesore into a state-of-the-art educational facility, we are now able to better prepare our young people for successful futures. Further, we are a much stronger force for good in our community, offering on-going food drives in our parking lot, hosting enrichment camps in the summer for younger students, and running vaccine clinics during the height of the pandemic for seniors, veterans, and the general public. None of this would have been possible without the significant investments brought to our project through NMTCs.
-Preston Kendall, Cristo Rey St. Martin College Prep, Waukegan, IL
The community of Polson MT has benefited from the NMTC program extensively over the past 10 years.
-Marie Hirsch, Lake County Community Development Corporation, Ronan, Montana
Our organization is a nonprofit that develops senior care communities so that senior citizens can live as independently as possible with appropriate supports. We achieve this by developing affordable senior housing adjacent to LIFE (Living Independently for Elderly) Centers. Residents can attend the LIFE Centers several times a week and get in home support from the home health aides that work for the LIFE program. NewMarket Tax Credits are the primary source of developing these critical LIFE Centers that support our seniors.
-John Ungar, NewCourtland, Philadelphia, PA
The NMTC has financed Miami projects that in no way would exist with Conventional Financing
-Steve Blazekovic, Neighborhood Housing Foundation, Miami, FL
The New Markets Tax Credit program has brought over $100 million of investment and over 1,000 jobs to Reading, Pennsylvania, one of the poorest cities in the country.
-Alan Shuman, Shuman Development Group, Reading, PA
The ability to use NMTC allowed one of our industries, Bongards Creameries, to expand with a $35,000,000 capital investment and the creation of 95 new jobs. With the expansion, the company gave the community a $175,000 workforce development grant.
There have been other companies in West TN which have also taken advantage of the NMTC program in order to expand their operations thereby creating additional capital investment and job creation. The NMTC program is a vital component to help facilitate growth in rural communities.
Please continue the NMTC program and help rural communities grow.
-Kingsley Brock, Director of Economic Development, Gibson County TN Office of Economic Development, Trenton, TN
“NMTC financing helped develop our infrastructure and water system. These benefits go beyond our treatment center. We are able to continue to develop the Keller community with new homes and businesses.”
-Billy Nicholson, CFO for the Colville Confederated Tribes
The NMTC allowed us to build a YMCA in one of Raleigh’s poorest communities. Because of the Y’s commitment to enter the market, we also attracted a new public school, 120 affordable housing unit’s and are in the planning phase of commercial development to bring jobs and job training to this campus. Non of that would have happened without NMTC.
-Bryan Huffman, Chief Financial Officer, YMCA of the Triangle Area, Inc., Raleigh, North Carolina
The NMTC program is critical for us as developers to invest in areas of need. We have done 4 NMTC projects. Every one could not have been done without the NMTC program available to assist with the project. it also helps to align all partners towards the mission of the program.
-Burton Metz, Wangard, Wauwatosa, WI
New Markets Tax Credits have contributed to critical projects in some of Minnesota’s most underserved cand economically challenged communities, particularly for our communities of color most affected by economic dispartity and especially in the wake of George Floyd’s murder and the civil unrest we saw as a result.
-Mary Stoick, SB New Markets CDE, LLC, Saint Paul, MN
The NMTC program allowed us to renovate a 5-story building into a comprehensive health care facility providing health and dental services to over 15,000 primarily uninsured or underinsured people.
-Lisa Hemker, CFO, Lorain County Health & Dentistry, Lorain, Ohio
We have been waiting for the opportunity to participate in an NMTC deal so we can expand affordable housing in Tampa. With more than 40% of our households cost-burdened, we need to act using all tools available to us.
-Tina Swain, CEO, Habitat for Humanity of Hillsborough County, Tampa, Florida
