Ivy Tech

New Markets Tax Credit Coalition

Indianapolis,
IN
(2012)

Ivy Tech

Adult Education, College or Vocational Training, Community, Culinary Entrepreneurship, Historic Rehabilitation

The Corporate College and Culinary Arts Training Center, a remarkable example of how resources from the CDFI Fund are put to use.

Investment

NMTC Amount: $32,051,325
Total Project Cost: $36,910,586

IMPACT

35 FTE jobs
152 construction jobs
Rehabilitation of a vacant or under-utilized historic structure.

CDEs

Cinnaire New Markets, Indianapolis Redevelopment CDE, Local Initiatives Support Corporation

Investor

US Bank

Project Description

The Corporate College and Culinary Arts Training Center is a remarkable example of how resources from the CDFI Fund are put to use. Three local community development organizations – the Cinnaire, Local Initiatives Support Corporation Indianapolis, and the city’s Indianapolis Development CDE – used more than $33 million in New Markets Tax Credits allocated from the CDFI Fund to leverage private capital needed to finance this project which opened in 2012. These tax credits helped Ivy Tech Community College purchase and renovate the historic building that now houses Ivy Tech’s workforce development, culinary arts, and distance learning education programs, as well as office space for staff.

MAP

Address: 2820 North Meridian Street, Indianapolis, IN 46208

Census Tract: 18097351500

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