New Markets Tax Credit Coalition

Asian American Drug Abuse Program

NMTC financing helped expand the facilities of AADAP, a social service provider.

Investment

  • NMTC Amount: $500,000
  • Total Project Cost: $5,000,000

IMPACT

  • 9 FTE jobs
  • 714 patients served
  • 22,000 sq. ft. of real estate

Investor

Project Description

AADAP is a nonprofit 501[c] [3] corporation established in 1972. During the last 35 years, the organization has grown with the changing needs of its community by broadening its scope of services from drug abuse prevention/treatment to include HIV/AIDS outreach, drug court and parenting services. The company has experienced an increased demand for its products and required additional facilities to support to effective deliver services in the South Los Angeles community; additionally, it wanted to lower its borrowing costs. Loan proceeds were used to acquire a 22,500 sq. ft. office building in South Los Angeles and consolidate existing loans used to acquire two other office buildings totaling 40,000 sq. ft. utilized for AADAPs social services programs.

MAP

Address: 2900 South Crenshaw Boulevard, Los Angeles, CA 90016

Census Tract: 6037219300

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