Boys Hope Girls Hope provides stability, support, and scholarship to bright and motivated children from challenging circumstances. This project will construct the Rajan Academy Center, which will bring the Academy Program under one roof and allow more than 200 Scholars to participate in an empowering home-like atmosphere fostering a sense of pride from middle school through high school. The Academy Center will include two classrooms, art room, stem lab, college preparatory tutoring, study spaces, counseling areas, wellness/fitness room and open spaces for Scholars to develop holistically each day.
Care Alliance, a community health center (FQHC) historically focused on providing health care to the homeless and individuals living in public housing, will expand its services to residents of the Central neighborhood in Cleveland. The Central neighborhood has the highest concentration of public housing in Northeast Ohio and has limited access to primary care services. The new two-story, 30,000 square foot community health center will house primary care, dental, behavioral health, podiatry, vision and social services, as well as an on-site pharmacy and community rooms. It will meet LEED Silver certification standards for New Construction and Major Renovation.
The Bowery (‘Project’) is the adaptive reuse of 6 contiguous buildings located in the South Main Street Historic District in downtown Akron, OH. The Project will be comprised of 69 market rate apartments, 23 affordable (80% of AMI) apartments, 3,985 square feet of office space, and 36,051 square feet of commercial space. Transformation 5 historic buildings in downtown Akron, Ohio in a mixed use facility. Strategically located in the heart of the business district along the iconic Lock 4 arcade and adjacent to the famed Akron Civic Theater.
The project consists of an 11,000 SF Academy Center that allows the nonprofit fighting for academic opportunities in underserved communities to combine the operational activities of the Residential and Academy Scholar programs together under one roof for the first time in the organizations 23-year history. Coupled with the recent acquisition of an adjacent gymnasium, the Academy Center will not only increase the capacity to 220 scholars, but also provide for a more wholistic approach to building character and developing scholars.
The first of Mayor Frank Jackson’s Neighborhood Transformation Initiative projects, Glenville Circle North combines small business incubator spaces in collaboration with the City of Cleveland, 63 units of housing, a business accelerator and small market. The mixed use project is strategically positioned at the Gateway to the historic Glenville neighborhood just north of booming University Circle. Glenville Circle North, which will include 63 mixed-income apartments and a 13,000-square-foot business incubator.
Since 1969, the Cleveland based Lutheran Metropolitan Ministry (LMM) has served people who are homeless, unemployed, involved in the criminal justice system, at-risk youth, and vulnerable adults throughout Northeast Ohio. Each year, LMM serves more than 10,000 people with the help of thousands of volunteers. In 2011 alone, LMM assisted 359 people in obtaining employment and 647 people in completing job training or education programs. In 2009, LMM launched its ‘Building on the Promise’ capital campaign to finance a larger, more integrated facility to better serve clients. With support of the State of Ohio, foundations, individuals, and corporations, PNC Bank and the Cleveland New Markets Investment Fund II provided $8 million in NMTC financing to make the project a reality. The Richard Sering Center, scheduled to open in November 2012, will be in an old glove factory in Cleveland’s St. Clair-Superior neighborhood. The 40,000 square foot state-of-the-art facility will include 80 staff offices and a Central Kitchen to provide meals to local homeless shelters. The center will allow for expanded job and volunteer training programs and will also launch a new partnership with North Presbyterian Church with shared space for the congregation. The two social enterprise programs, Central Kitchen and Metro Metal Works, that build and install bicycle racks, will flourish as they apply earned-income strategies to operate businesses that empower individuals experiencing barriers to employment with a goal of long-term employment. The center is located in a highly distressed community with high poverty and unemployment rates. It addition to expanded services, the new center created 20 construction jobs and some 80 permanent jobs were created or retained.
GreatWave Communications is a long-standing operating business located in Conneaut, Ohio that provides high-quality telecommunications services to over 2,000 telephone customers, 1,650 cable television subscribers, and 3,200 broadband internet users throughout rural Ashtabula County. Without NMTC investment, GreatWave could not timely increase its deployment of high-speed broadband telecommunications services to meet growing demand in a region that has been overlooked by larger internet providers. GreatWave operates in a low-income, non-metropolitan area designated as an SBA Hub Zone and as severely distressed by the Appalachian Regional Commission. Service expansion will have significant economic development and community impacts. Reliable, wide-reaching broadband network service is an essential resource that will enable this underserved, rural Appalachian region to compete in the digital economy, be more attractive to businesses, generate more tax revenue, and help schools, libraries and other learning centers bridge the digital divide to provide an enriched interactive learning environment for students. Having learned of the project through staff engagement in Ashtabula County’s business community, Ohio Community Development Finance Fund (Finance Fund) partnered with Development Fund of the Western Reserve (DFWR) and U.S. Bancorp Community Development Corporation to provide NMTC financing. Finance Fund provided $5 million of federal NMTC allocation, DFWR provided $4.5 million of federal NMTC allocation, and USB provided the NMTC equity investment. The company’s expansion, made possible only through NMTC financing, will enable it to create or retain 54 jobs, improve its infrastructure, buy equipment and deploy phone, cable and internet services to an additional 50 business and 600 residential subscribers per year in this underserved low-income, rural community.
One of the exceptional aspects of the New Market Tax Credit (NMTC) is how it brings together public and private entities to funnel capital to low-income urban and rural areas where, in the past, the risk for investors would have been too great. A case in point is the $6.2 million revitalization of the Longwood Plaza (now renamed Arbor Park Place) shopping center in Cleveland, Ohio, of which $1.57 million was made possible by the NMTC program.
The new school at E. 62nd Street and St. Clair Avenue in Cleveland adds a modern three-story building on a site that once was home to the former Kausek Brothers Department Store, then later a furniture store and apartments. The $21 million first phase is part of a $30 million overall project to move the school, which started in 2003, from the former St. Vitus school in the same neighborhood. Juniors and seniors will use the new building while freshmen and sophomores remain at St. Vitus until the full school is complete. Tony Burke, the school’s marketing manager, said St. Martin and its 380 students have outgrown the old site. It will add close to another 100 students by 2022 when the building is fully complete. “Our new building is a state-of-the-art facility that enhances our interdisciplinary project based learning communities,” Burke said. “It ensures our students are fully prepared for what they will see and experience in college, and eventually in their workplaces.”
Facility provides services for families with critically ill children in treatment at area hospitals. Overnight lodging for families of ill children receiving extensive medical treatment.