New Markets Tax Credit Coalition
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
Project acquired and installed certain equipment and enhancements at the 3rd Street Foundry (collectively, the “New 3rd Street Equipment”) necessary to run a third production line. “Operations in our second
In recognition of the substantial needs in the Orange Mound community and the opportunity to expand services, RedZone commenced construction on the new 40,000 sq. ft. Skyview Community Center in