Minnesota Data and Stories

State Fact Sheet

Map of Selected Projects in Minnesota

Community Testimonials

The NMTCs allow many nonprofit organizations to expand their missions. I’ve seen NMTCs build several homeless shelters and health clinics for the poor.

-Peter Berrie, Faegre Drinker

Selected Projects in Minnesota

The Historic Coliseum Building

Minneapolis,
MN
(2024)

Business Development, Historic Rehabilitation, Mixed-use and Commercial

CDE(s): Mid-City Community CDE, Midwest Minnesota CDC, University Financial Corp.

NMTC financing from MMCDC will help build a more equitable economic future for Minneapolis

George Modular

Minneapolis,
MN
(2024)

Manufacturing

CDE(s): CRFUSA, University Financial Corp., USBCDE

Much-needed investment by an innovative manufacturer provides economic boost for north Minneapolis, Minnesota community.

Bongards, Perham (MN)

Perham,
MN
(2024)

Business Development, Manufacturing

CDE(s): Dudley Ventures, Mascoma Community Development, National New Markets Fund, Rural Development Partners, Waveland Community Development

New Markets Tax Credit financing for equipment toward the expansion of a cheese and whey processing facility in Perham, Minnesota.

Endazhi-Nitaawiging Charter School

Red Lake,
MN
(2023)

Schools

CDE(s): Civic Builders

First charter school in a new facility on indigenous land expands educational opportunities for K-8 students

V3 Sports Center Phase 1

Minneapolis,
MN
(2023)

Recreation

CDE(s): University Financial Corp.

Gap Financing Loan to V3 Sports Inc.

New Spirit

Mahnomen,
MN
(2023)

FQHCs

CDE(s): Midwest Minnesota CDC

Midwest Minnesota CDC allocated $10M to assist with a portion of the $17.9M development, construction, equipment, and other project costs for a new health center in Naytahwaush on the White

KAMP Automation

Owatonna,
MN
(2023)

Manufacturing

CDE(s): Mascoma Community Development

The project consisted of the refinance and acquisition of land, which KAB Properties purchased from the City of Owatonna in February 2023, and finance building construction costs for an approximately

Climate by Design International, Inc.

Owatonna,
MN
(2022)

Manufacturing

CDE(s): Mascoma Community Development, Midwest Minnesota CDC, University Financial Corp.

The acquisition of land and new construction of a 200,000 sq. ft. manufacturing and warehouse facility

Camdentown Flats

Minneapolis,
MN
(2022)

Mixed-use

CDE(s): USBCDE

This investment will finance the construction of a 7,119 sq. ft., 9-unit multi-family corporate housing development designed to provide affordable live/workspace for professionals of color in the Camd […]

Minneapolis American Indian Center

Minneapolis,
MN
(2022)

Community, Healthcare

CDE(s): Midwest Minnesota CDC, Old National CDE Corporation, University Financial Corp.

NMTC financing for the renovation and expansion of the Minneapolis American Indian Center (MAIC), a nonprofit community center in the heart of the American Indian community of Minneapolis providing comprehensive

Dayton’s Bluff Neighborhood Housing Services

Saint Paul,
MN
(2022)

Affordable Housing

CDE(s): Community Housing Capital

A $7 million allocation for the infrastructure development for 32 lots and build 15 homes with 80% reserved for low-income buyers. This development is close to downtown, transit, shops, and

Saint Paul City School, Charter School No. 4029

Saint Paul,
MN
(2021)

Community, Schools, Youth and Families

CDE(s): Midwest Minnesota CDC, University Financial Corp.

A new 65,900 sq. ft. facility will be constructed at the 1.79 acre site, featuring 28 classrooms, 3 flex rooms, 13 pullout spaces for small group learning, music, art, media

Site visits and recent news related to Minnesota NMTC Projects

NMTC financed V3 Sports to celebrate grand opening in north Minneapolis

June 21, 2024

Historic Coliseum Building reopens after four-year restoration

June 19, 2024

Make the New Markets Tax Credit permanent

June 10, 2024