Low Income Investment Fund | New Markets Tax Credit Coalition

Remington Row 1

Remington Row is a 250,000 square foot mixed-use, new construction project in the heart of the Remington neighborhood in Baltimore, Maryland. It is the first of several, planned redevelopment projects along three adjacent blocks, designed to fill a need for community services, retail and reasonably-priced apartments and to catalyze further investment in the neighborhood. The building features a 30,000 square foot health clinic, 15,000 square feet of retail, 108 apartments, and three floors of underground parking. The apartments are priced below-market, and 20 percent of the units are affordable to families earning less than 80 percent of area median income.

YMCA Fort Worth

NMTC financed development of a 35,000 sf community space for the McDonald Southeast YMCA. Included new construction of a full-service fitness center and early learning education center.

Essex Crossing

Essex Crossing includes 1,000 residential for-sale and rental units, a 15,000 sf public park, a 10,000 sf rooftop urban farm and 1.9 million square feet of residential, commercial, and community space.

Triangle Plaza Hub

Mixed-use development to bring fresh food, accessible healthcare and job opportunities to a highly distressed community in the South Bronx.

Kingsley House

Kingsley House, a United Way Community Impact Partner and nationally renowned as the oldest Settlement House in the South, has served more than half a million people since it was founded in 1896. Located in the Lower Garden District of New Orleans, the social service agency provides nearly 7,000 infants, children, youth, parents and disabled and elderly from throughout southeast Louisiana a comprehensive array of nationally accredited and state certified programs. These include Head Start and Early Head Start, the Educare New Orleans early childhood education program, and programs and services for adults and seniors on the campus or in their homes.

Lafayette YMCA

In 2017, ground was broken on a $28 million facility that will house a new Lafayette Family YMCA. The project also includes space for Junior Achievement, a Franciscan Health clinic and a childcare center. The two-story, 116,000 square-foot center is a joint collaboration of Intersection Connection, which is located on the Ivy Tech Community College – Lafayette campus and includes community organizations focusing on youth development, higher education, financial literacy and health and wellness. The new YMCA space will double its existing footprint. Funding sources include IU Health, which is covering the cost of the aquatics center, as well as Intersection Connection partners, the City of Lafayette, North Central Health Services, Oerlikon/Fairfield, Old National Bank, the James K. Risk family, School Datebooks, Subaru of Indiana Automotive Inc., Tippecanoe County, Unity Healthcare, Wabash National Corp., the YMCA Foundation and the federal New Markets Tax Credit program.

Oceano Community Health Center of the Central Coast

The facility will be a primary care health clinic serving seasonal and migrant farm workers residing in the southern part of the San Luis Obispo County.

Ravenswood Family Health Center

Established in 2000, Ravenswood served about 12,900 patients per year out of modular buildings with limited space and services. The new center will nearly double Ravenswood’s patient capacity. It will include 58 exam rooms and 13 behavioral health counseling rooms as well as laboratory, imaging and mammography services, optometry exams and a pharmacy. PCDC invested $7.5 million in new markets tax credits (NMTC) and $850,000 in bridge loan financing to help build the new 38,000 square-foot facility. The Opportunity Fund provided $20.5 million in NMTCs and Low Income Investment Fund (LIIF) provided $11.5 million in NMTCs as well as additional bridge loan financing. The project attracted numerous grants and donations, including $5 million from Facebook CEO Mark Zuckerberg and his wife Priscilla Chan.

Ednovate East College Prep

Ednovate, Inc. is a Charter Management Organization designed and developed by the USC Rossier School of Education in 2012 to close the graduation gap for high-need students in Los Angeles. Ednovate currently operates 5 charter high schools and East College Prep (‘EC’) would be the second to move into a permanent facility. In the 2017-2018 school year, ECP had 282 students enrolled in grades 9-11. The school is currently split between two sites. The project scope includes acquiring the existing 11,085 sq. ft. building that ECP was leasing from a private landlord and constructing a new 20,000 square foot education building addition. In total, ECP will have 31,085 sq. ft., allowing the school to scale to 460 high school students. In addition to 20 classrooms, the educational building will also include a multi-purpose/lunch room, teacher’s lounge, teacher workspaces, an outdoor sport court and administrative space. Civic Builders provided $8.0M of New Markets Tax Credit Allocation to the project to fill a funding gap because of Ednovate, Inc.’s lack of accumulated surpluses to contribute to the project. The buildings will be delivered for the 2019-2020 school year.

Community Servings

Community Servings is a nonprofit food and nutrition program providing services throughout Massachusetts and in Rhode Island to individuals and families living with critical and chronic illnesses. The project involves an 8,000 SF renovation and a 17,400 SF addition to Community Servings’ (CS) current space, greatly increasing the size of their kitchen, adding job training space, and expanding CS’ Food & Nutrition Policy Center. The project will allow CS to triple its meal production and delivery service and double its job training program.