Petersburg Library

New Markets Tax Credit Coalition

Petersburg,
VA
(2013)

Petersburg Library

Community, Daycare and Early Childhood, Infrastructure, Library, Municipal Facilities, Youth and Families

A new 42,160 sq. ft. library in Petersburg, VA.

Investment

NMTC Amount: $12,483,250
Total Project Cost: $14,371,100

IMPACT

1 FTE jobs
51 construction jobs
42,160 sq. ft. of real estate

CDEs

Local Initiatives Support Corporation, Wells Fargo

Investor

Wells Fargo

Project Description

Petersburg Library Foundation (PLF), was formed as a nonprofit in 2002 to fundraise capital for a new 42,160 sq. ft. library in Petersburg, VA. PLF raised $10 million in cash and pledges over four years, but the project was delayed for almost two years because it did not have sufficient funds to complete the building. NMTC financing from Wells Fargo and LISC filled the project’s fundraising gap and allowed it to finally move forward.

MAP

Address: 201 West Washington Street, Petersburg, VA 23802

Census Tract: 51730810300

PDF Profile

Other Virginia Projects

Pyramid Health Center

Lynchburg,
VA
(2008)

Adult Daycare, Community, Healthcare, Nursing Homes and Hospice

CDE(s): Local Initiatives Support Corporation

Two medical services facilities designed to provide services to the elderly and the medically under-served

Anna Julia Cooper Episcopal School

Richmond,
VA
(2020)

Community, Private School, Religious Organizations, Schools

CDE(s): Capital One, Local Initiatives Support Corporation

The project expands AJCES with a new building and gymnasium on a site adjacent to its existing school building.

Richmond Times Dispatch Building

Richmond,
VA
(2020)

Business Development, Historic Rehabilitation, Mixed-use

CDE(s): Capital One, Virginia Community Development Fund

Renovation of the 166,276 SF, four-story Richmond Times Dispatch (RTD) building, consisting of a reconfigured and updated home for RTD personnel, a corporate headquarters for Shamin Hotels and additional office

Temperpack

Richmond,
VA
(2021)

Manufacturing, Plastics and Chemicals

CDE(s): AMCREF Community Capital

NMTC financing helped a Richmond manufacturer expand its capacity and create more jobs.