The 550 Building, L.C.

Cedar Rapids,
IA
(2017)

The 550 Building, L.C.

Mixed-use

NMTC financing to support a refinance structure of a real estate holding company in its renovation efforts of a mixed-use development in a highly distressed area of Cedar Rapids, IA.

Investment

NMTC Amount: $927,896
Total Project Cost: $1,030,996

IMPACT

5 FTE jobs

CDEs

Central States Development Partners

Investor

Unknown

Project Description

Central States provided $927,896 in New Market Tax Credit financing to support a refinance structure of a real estate holding company in its renovation efforts of a mixed-use development in a highly distressed area of Cedar Rapids, IA.

MAP

Address: 550 Second Street, Cedar Rapids, IA 52401

Census Tract: 19113002700

Other Iowa Projects

Eastern Iowa Community College: Davenport

Davenport,
IA
(2017)

College or Vocational Training

CDE(s): Iowa Community Development, Urban Research Park CDE

SCC Urban Campus renovated two currently vacant buildings to expand the current offerings of the Kahl Educational Center into a full-service community college urban campus that will mainly serve low-income