Mission Neighborhood Centers

New Markets Tax Credit Coalition

San Francisco,
CA
(2020)

Mission Neighborhood Centers

Affordable Housing, Community, Daycare and Early Childhood, Youth and Families

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

Low Income Investment Fund

Investor

US Bank

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.

MAP

Address: 1950 Mission Street, San Francisco, CA 94103

Census Tract: 6075020102

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