NMTC 20th Anniversary Report
The NMTC was authorized 20 years ago as part of a bipartisan effort to jump-start investment and economic growth in low-income urban neighborhoods and rural communities. These areas had experienced a long-term decline, through good economies and bad. Many of America’s small farming towns, urban neighborhoods, and post-industrial suburbs lacked access to the patient capital needed to support and grow businesses, create jobs, and sustain a healthy economy.
Early NMTC Projects
2003
Beacon, NY | 18th District
Rehabilitation of a former manufacturing facility into an art museum…
2003
Rock Hill, SC | 5th District
Rehabilitation of the historic Dalton Building into a mixed-use development that now houses offices and residential….
2003
Baltimore, MD | 7th District
Rehabilitation of three historic buildings…
2003
New Orleans, LA | 2nd District
NMTC financing supported the HCI Construction project….
2003
Wheeling, WV | 2nd District
Rehab of the Wheeling Stamping Building in Wheeling, West Virginia, a 94,000 sq. ft. brick warehouse….
2003
Durham, NC | 4th District
The $12 million in total NMTC financing enabled Scientific Properties, LLC to rehabilitate a deteriorating factory; generate 140 construction…