Both Parties Embrace the NMTC for Rural Areas

Both Parties Embrace the NMTC for Rural Areas

Democratic Platform Supports the NMTC On Monday, July 25th, delegates at the Democratic National Convention approved a party platform that included several proposals to protect and expand the New Markets Tax Credit: Ending Poverty and Investing in Communities Left Behind: “We will expand and make permanent the New Markets Tax Credit.” Building Strong Cities and […]

NMTC Partnership Achieving Community Goals With Sibley

NMTC Partnership Achieving Community Goals With Sibley

What do you do with one million square feet of underutilized and vacant department store in your city center, with a building constructed in 1905? That’s the question community leaders in Rochester, New York needed solved with the Sibley Building, once the largest department store in America between New York City and Chicago. In May, […]

Lake Mead Christian Academy Project Part of a Surge in NMTC Activity in Nevada

Earlier this month, Clearinghouse CDFI and Lake Mead Christian Academy celebrated the groundbreaking of their new Henderson, NV facility. Clearinghouse CDFI provided long-term financing for the school, that provides infant day-care services and schooling for grades K-12. The Lake Mead project is part of a recent surge in NMTC activity in Nevada, a state that – until […]

San Jose Educare Project Shows the Importance of the NMTC for Nonprofits and Community Facilities

On Friday, October 16th, Educare of California at Silicon Valley (“ECSV”) and Opportunity Fund will celebrate the recent opening of a new Educare facility in San Jose’s Santee neighborhood. The new school, which is more than 7 years in the making, will provide year-round early childhood education and care to 160 children. The project would […]

US Conference of Mayors Considering Resolution Supporting the New Markets Tax Credit

The 83rd Annual Meeting of the US Conference of Mayors begins today in San Francisco, CA, and the fate of the New Markets Tax Credit (NMTC) – a critical tool for both urban areas and small towns – is on the minds of many of the conference attendees. The program expired last December, and without […]

Borden & Remington – Fall River, MA

FACTS AND FIGURES CDEs: Rockland Trust Community Development Corporation Investor: Rockland Trust Company Community Profile: 23% poverty rate  Median income 42% of AMI  Unemployment rate 1.64 times the national average Project Highlights: Total project cost: $2.475 million NMTC financing: $2.25 million Renovated a 70,000 square foot historic building Created 25 new full-time jobs […]