The NMTC is an important source of financing for businesses and community facilities in America’s most economically distressed rural and urban communities. Over the past 15 years, communities have come to count on the NMTC as a source of low-cost capital for challenging projects that would not have been possible but-for the NMTC. Since 2003, the Credit has delivered well over $100 billion in flexible capital to farming towns and urban neighborhoods left outside the economic mainstream. Those investments have generated over one million jobs at a cost to the federal government of less than $20,000 per job.
Without an NMTC extension, many of America’s urban neighborhoods and rural communities, struggling with high rates of poverty and unemployment, will lose access to billions of dollars for high-impact, community revitalization projects. For these reasons, we urge Congress to provide a permanent extension and expansion of the New Markets Tax Credit.
National Cooperative Bank (NCB) along with Wright-Patt Credit Union, (WPCU) cclosed a $16 million loan to support a $31.6 million New Markets Tax Credit (NMTC) financing package for the development … Read More
Grove Street Shelter is the new construction of an approximately 14,000 square foot, 50-bed emergency homeless shelter to be operated by Hope House Mission, which provides shelter and supportive services … Read More
Boys Hope Girls Hope provides stability, support, and scholarship to bright and motivated children from challenging circumstances. This project involved the construction ofthe Rajan Academy Center, which brought the Academy … Read More
Cross Street Partners (CSP), Model Group, and McCormack Baron Salazar will redevelop the historic Dayton Arcade, a collection of nine buildings totaling over 330,000 sq. ft. in the heart of … Read More
As the number of families with children needing Cleveland-area pediatric medical care continues to grow, Ronald McDonald House Cleveland (RMH) has been unable to keep pace with demand for their … Read More
Major update of YWCA Dayton centers on trauma-informed care. A gut rehab of the seven-story, 118,000-square-foot building began this year with blended funding from historic tax credits, New Markets Tax … Read More
Madisonville Redevelopment aims to revitalize three buildings across three city blocks in the Madisonville neighborhood of Cincinnati, Ohio. The project is the first phase of a catalytic redevelopment of the … Read More