New Markets Tax Credit Coalition

  • Shiprock,
  • NM
  • (2009)

Navajo Tribal Utility Authority Electrical Substations

District: Teresa Leger Fernandez (D-NM03)

Financing for the construction of two electrical substations on the Navajo Nation Reservation

Investment

  • NMTC Amount: $6,272,000
  • Total Project Cost: $6,272,000

IMPACT

  • 78 FTE jobs
  • 31 construction jobs
  • Brought 400 families, previously without power, onto the grid

CDEs

Investor

Project Description

Working with US Bancorp Community Development Corporation (USBCDC) as the investor and The Navajo Tribal Utility Authority (NTUA) as leverage lender, Travois New Markets used $6.4 million in allocation to finance the construction of two electrical substations on the Navajo Nation Reservation. The new substations doubled electrical capacity to the Shiprock region without raising residents’ electric rates and brought 400 families, previously without power, onto the grid.

External Profile

MAP

Address: , Shiprock, NM 87420

Census Tract: 35045942801

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