New Markets Tax Credit Coalition

  • San Francisco,
  • CA
  • (2020)

Mission Neighborhood Centers

District: Nancy Pelosi (D-CA11)

NMTC financing supported the Mission Neighborhood Centers project.

Investment

  • NMTC Amount: $2,440,000
  • Total Project Cost: $3,956,956

IMPACT

  • 12 FTE jobs
  • 5 construction jobs
  • 42 childcare slots

CDEs

Investor

Project Description

MNC is an early care and education operator in San Francisco. We established a NMTC fund to finance a couple of ECE projects due to the increasing cost of real estate. MNC is leasing a commercial space in a newly constructed affordable housing project in the Mission district of SF. We provided a $2.44M allocation as part of the leasehold buildout of their space. The Leverage Loan was fully funded by a grant so, it is anticipated that both the A and B notes will be forgiven at the unwind.

External Profile

MAP

Address: 1950 Mission Street, San Francisco, CA 94103

Census Tract: 6075020102

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