Ways and Means Chairman Smith (R-MO) and Tax Subcommittee Chair Mike Kelly (R-PA) recently released a list of newly formed working groups to study key provisions and make recommendations in light of the expiration of many provisions of the Tax Cut and Jobs Act of 2017. The working groups are American Manufacturing, Working Families, American Workforce, Main Street, New Economy, Supply Chains, Global Competitiveness, U.S. Innovation, Community Development, and Rural America.
Of particular interest is the working group on Community Development, which is Chaired by Rep. Kelly and includes Reps. Tenney (R-NY) Vice Chair, LaHood (R-IL), Moore (R-UT), and Carey (R-OH). With the exception of Blake Moore (R-UT), all are original sponsors of H.R. 2539, the NMTC Extension Act of 2023.
Below, learn more about the impact of the NMTC in their districts.
Rep. Mike Kelly (R-PA)
Nonprofit Development Corporation (2023)
- Community, Nonprofit Hub
- CDEs: WesBanco
New Castle Mixed-use (2021) (2021)
- Mixed-use, Mixed-use and Commercial
- CDEs: WesBanco
In the first of two revitalization projects (read about the other project), Wesbanco used NMTC financing to help a borrower purchase and renovate a vacant commercial building at 101 Mercer
New Castle Mixed-use (2022) (2022)
- Mixed-use
- CDEs: WesBanco
Primary Health Network – Sharon (2014)
- Behavioral Health, Community, FQHCs, Healthcare
- CDEs: Chase, Commonwealth Cornerstone Group, The Reinvestment Fund
Erie Center for Arts and Technology (2020)
- Arts, Community, Daycare and Early Childhood, FQHCs, Healthcare, Mixed-use, Nonprofit Hub, Schools, Youth and Families
- CDEs: Commonwealth Cornerstone Group
Rep. Claudia Tenney (R-NY)
GLOW Healthy Living Campus (2023)
- FQHCs, Nonprofit Hub, YMCAs and YWCAs
- CDEs: Empire State Development Corporation, Enterprise Community Partners
The project will replace the current YMCA building with new construction and will provide healthcare, wellness, and community services to residents. he project includes a Federally Qualified Health Center, or
Currier Plastics, Inc. (2020)
- Business Development, Manufacturing, Warehouse and Wholesale
- CDEs: Empire State Development Corporation
Rep. Darin Lahood (R-IL)
Altorfer CAT Rental (2013)
- Retail
- CDEs: Business Valued Advisor Fund
Natural Fiber Welding, Inc. (2021)
- Business Development, Manufacturing
- CDEs: Community Development Venture Capital Alliance
Rep. Blake Moore (R-UT)
Metal Machining (2021)
- Machine Shops and Metal Fabrication, Manufacturing
- CDEs: Advantage Capital
Hope Lodge (2014)
- Community, Healthcare, Youth and Families
- CDEs: Community Development Finance Alliance
CDFA provided NMTC financing for Hope Lodge, a no-fee lodging facility serving patients receiving cancer treatment services in Salt Lake City. The 66,476 sq. ft. facility includes 42 residential suites
University of Utah Research Park (2018)
- College or Vocational Training, Higher Education
- CDEs: Enhanced Capital
The University of Utah Research Park is located on the campus of the University of Utah. Established in 1968, Research Park was intended to stimulate economic development within the State
Salt Lake City Downtown Public Health Clinic (2017)
- Community, FQHCs
- CDEs: Community Development Finance Alliance
Salt Lake County’s newly constructed public health clinic is a twostory building which provides over 50,000 sq. ft. of modern, efficient and attractive clinic and office space. The new facility
YMCA of Salt Lake City Expansion (2008)
- Adult Education, College or Vocational Training, Community, Daycare and Early Childhood, Food Bank or Pantry, HFFI, Homeless Services, Homeless Shelter, Infrastructure, Recreation, Shelters and Community Food, Transportation and Ports, YMCAs and YWCAs, Youth and Families
- CDEs: Enterprise Community Partners
Ogden Mixed-Use Redevelopment (2018)
- Adult Education, Affordable Housing, Arts, College or Vocational Training, Community, Historic Rehabilitation, Housing, Makerspace, Manufacturing, Mixed-use, Retail, Retail and Commercial
- CDEs: Chase, Dudley Ventures
Rep. Mike Carey (R-OH)
Downtown Piqua YMCA (2022)
- YMCAs and YWCAs, Youth and Families
- CDEs: Dayton Region New Markets Fund, PNC
NMTC financing supported the construction of a 76,000 sq. ft. YMCA that will offer expanded health and social impact programming for seniors, youth and families in downtown Piqua, OH. The
Central Ohio Youth for Christ (2013)
- Community, Schools, Youth and Families
- CDEs: Finance Fund
Fortuity Calling (2017)
- Professional Services, Retail
- CDEs: Capital One, Finance Fund
