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Loudon, TN (2011)

Loudon County Habitat for Humanity, Inc.

Financing for the construction of 18 affordable homes for Loudoun County Habitat for Humanity.

Investment

  • NMTC Amount: $1,066,507
  • Total Project Cost: $1,684,947

IMPACT

  • 5 FTE jobs
  • 33 construction jobs
  • Construction of 18 affordable, single-family homes.

Investor

Project Description

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.

MAP

Address: 179 Hope Way, Loudon, TN 37774

Census Tract: 47105060502

Voices from the Community

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.

-Tony Gibbons, Executive Director, Loudon County Habitat, Lenoir City, Tennessee

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