Omaha Habitat for Humanity (2010), Omaha, NE

COMMUNITY IMPACT

North Omaha, Nebraska is a neighborhood plagued by high rates of poverty, unemployment, and crime. In an effort to address these challenges, the City of Omaha targeted North Omaha as part of a $1.4 billion revitalization plan to advance education, job creation, business development, housing, and transportation in an area that has suffered disproportionately from violence, blight, and social ills. In April 2012, with the help of Smith NMTC Associates, and using its innovative NMTC model, CEI Capital Management LLC (CCML) provided $1.9 million in NMTC financing to Habitat for Humanity of Omaha for the construction of 14 new, affordable, homes. This investment allowed the Omaha Habitat to extend their budget reach by nearly 25%, creating 70 construction subcontractor jobs that performed electrical, mechanical, and plumbing work on the homes. In addition, the NMTC investment generated three full-time and two part-time Omaha Habitat affiliate jobs.

Voices from the Community

Since 2008, Smith NMTC has supported nonprofit developers in utilizing NTMCs to provide critical affordable homeownership opportunities and increased community services in struggling communities. With transactions in over 30 states, this work has resulted in the development of nearly 4,000 homes in low-income communities, as well as community facilities including credit unions, early childhood centers, youth camp facilities and an community empowerment center. Without the NMTC allocation, these projects would lack the needed capital to meet targeted outcomes/schedules.

Ann Hannan, Administrative Director, Smith NMTC Associates, LLC, St. Louis, MO

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The New Markets Tax Credit Coalition
1155 15th Street NW, Suite 400
Washington, DC 20005
202-393-5225

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