Montana Community Development Corporation (Montana CDC) completed its first New Markets Tax Credit (NMTC) transaction in Indian Country to finance a new government administration building on the Fort Peck Reservation. The new facility will consolidate the Fort Peck Tribal Government’s offices in Poplar, making it easier for tribal members to access new and enhanced service offerings, and enabling the Tribe to hire five additional people.
Collaboration between several partners brought the project to reality. Montana CDC provided $7.4 million in NMTC allocation, while U.S. Bank Community Development Corporation provided a tax credit equity investment and U.S. Bank provided a construction loan. The new building will house social, medical, employment, education, and natural resource services. The NMTC transaction also provided funds for an innovative grant program that will enhance the quality of the Tribe’s food assistance program and increase the amount of food provided to low-income residents.
‘Fort Peck’s new facility will make it easier for tribal members to access critical services that improve their quality of life and open up job opportunities. Montana succeeds when Indian Country succeeds, and I’ll keep working to make sure Montana CDC can access resources to support all of Montana’s communities,’ said U.S. Senator Jon Tester, a longtime supporter of NMTCs.
