As a small rural community that also has a growing and “urbanizing” community the New Market Tax Credit program opened up capital to invest in affordable housing when other sources were either unattainable or depleted. It is a creative mechanism for allowing nonprofits to utilize tax credits to benefit their local communities. Without this opportunity, Loudon County Habitat for Humanity would have had to finance infrastructure and house construction costs paying tens of thousands of dollars in interest payments. Instead, we were able to serve more families by leveraging the funds gained through the New Market Tax Credit program and the interest saved by not having to borrow.
Loudon County Habitat for Humanity believes that shelter is a basic human need and that everyone deserves a simple, decent place in which to live and grow.
In 2011, NMTC financing helped Loudoun County Habitat construct 18 affordable, single-family homes.
Address: 179 Hope Way, Loudon, TN 37774
Census Tract: 47105060502
This project was for a 54,000 sq. ft. grocery store in Winchester, TN. Store includes a bakery/deli, a 500 sq. ft. pharmacy, Starbucks and a Bank. K-VA-T also purchased an
A $14,000,000 New Markets Tax Credit (“NMTC”) investment supported Memphis Union Mission’s (“MUM”) The Opportunity Center, Phase 2 on March 14, 2022. Located at 383 Poplar Avenue in Memphis, Tennessee,
Lions’ mission is to assist visually impaired individuals in achieving personal and economic “independence through employment.” Its program hinges around therapeutic value of work. Its state-of-the- art manufacturing facilities provide
