Summer Town Estates (2016), Dededo, GU

COMMUNITY IMPACT

CBO Financial funded $5.0M in New Markets Tax Credit financing for the Summer Town Estates Commercial Center. The Center offers commercial goods and social services that improve the quality of life for low-income seniors, disabled individuals, and families residing in a surrounding low income housing development and the local community. The mixed-use facility consists of a 5,200 square foot neighborhood shopping center and laundromat, a 3,500 square foot restaurant and a 9,000 square foot community event center. The project sponsor and owner is Core Tech International (CTI). Since inception in 1991 CTI has grown from humble beginnings to become Guam’s 2nd largest private employer as a diversified company and is Guam’s largest affordable housing developer, non-bank financing firm, property management firm and contracting company. CTI was instrumental in helping the local government access the Low Income Housing Tax Credit (LIHTC) program for the first time in 2005, and continues its efforts to bring outside resources to Guam.

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The New Markets Tax Credit Coalition
1155 15th Street NW, Suite 400
Washington, DC 20005
202-393-5225

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