Finances the renovation and expansion of a vacant 43,515-square-foot, single-story office building on 4.31 acres, repurposed into a K-8 school. It will add a 5,200-square-foot gymnasium and improve the site to include an outdoor play area and rubberized athletic court.
NMTC supports growth of Springfield leader in affordable housing, homelessness prevention, job training & financial education.
New England Public Radio (NEPR) was established in 1953 and since 1967 had been operating out of a cramped converted dormitory on the campus of UMass Amherst. Since the station has grown, its space has become increasingly crowded, inadequate and in poor condition. In spite of these constraints, NEPR has consistently produced and delivered outstanding […]
Springfield, Massachusetts has seen more than its share of hard times. The condition of the City’s finances required intervention by the state. Unemployment is high and a number of neighborhoods in the city have high levels of economic distress. Springfield was a community ripe to benefit from a New Markets Tax Credit (NMTC) project. Lansal, […]
Educare Springfield, the first Educare school in Massachusetts, serves 141 Head Start-eligible young children and their families with a full-day, year-round early education program. The school, located in the highly distressed Old Hill neighborhood, is now a landmark lab school for best practices and an essential resource for Springfield College, Springfield Technical Community College, Springfield […]
The Caring Health Center project was the rehabilitation and adaptive reuse of three contiguous buildings in the Smith Carriage Company Historic District of Springfield, which improves healthcare in a medically underserved area. The $21.5 million project has a 45,000 square-foot community health center, including 30 new exam rooms, 12 new dental operatories, a wellness center, […]
In 2009, MHIC provided $19.9 million in New Markets Tax Credit financing for construction of a new, seven story, in-patient medical facility with 126 beds for the Baystate Medical Center (BMC). The largest of the hospitals in the Baystate Health System, BMC is an academic teaching hospital that serves as the western campus of Tufts […]
The complete restoration of a historic theater (built in 1903) that had been closed for 50 years.
A privately-owned company in western Massachusetts — Apex Resource Technologies — got an infusion of $5 million, giving the company the working capital needed to expand its business and workforce. In 2009, MHIC teamed up with Pittsfield Cooperative Bank to craft an innovative loan structure combining a bank loan with gap financing available through the […]
NMTC financing totalling $7.24 million supported the ground up construction of a 23,000 sq. ft. cooperative grocery store known as River Valley Co-op in Easthampton, MA, a USDA designated Food Desert.
Finaning for the Massachusetts Green High Performance Computing Center, New England’s first high performance computing center.
The newly-restored and expanded library provides after-school programs for disadvantaged youth, a specially-designed young-adult room, Internet resources, computer skills training, summer reading programs and many other programs for children and adults in this community.
The Holyoke Health Center (HHC), closed in March 2005, represents the first transaction of its kind in the country to combine the Federal loan guaranty program available to nonprofit community health centers from the Health Resources and Services Administration (HRSA), within the Federal Department of Health and Human Services, with New Markets Tax Credit and […]
Elms College used the NMTC to construct a new Center for Natural and Health Sciences.