New York Data and Stories

Map of Selected Projects in New York

Community Testimonials

I am writing to strongly advocate for the permanence of the New Markets Tax Credit (NMTC) program, a crucial initiative that has consistently shown its power to uplift our nation’s most economically challenged communities. As someone who has been deeply involved in the finance and community development sectors for over a decade, I’ve seen firsthand the transformative effects of NMTC on low-income areas. This program is not just a subsidy; it’s a financial catalyst. It attracts vital private capital to neighborhoods that would otherwise remain overlooked and underfunded. By focusing on low-income census tracts, NMTC aligns perfectly with our collective goal to foster equitable outcomes in community development. Through leveraging private investment, NMTC helps finance essential social services such as health centers, schools, and community centers. These facilities serve as the backbone of any prosperous society, and their absence is sorely felt in disadvantaged areas. By endorsing the permanence of NMTC, we aren’t merely providing a financial boost; we are laying the groundwork for holistic community revitalization.

-Amir Ali, Low Income Investment Fund, Valley Cottage, NY

Selected Projects in New York

The project consists of: (i) the purchase and renovation of NHC’s existing 23,000 sq. ft. health center facility at 300 Niagara St. (NHC Mattina) and the construction of a 15,000

This project will partially finance the acquisition and renovation of the former Dresser-Rand/Siemens Energy industrial facility in Olean, NY, the acquisition and commissioning of manufacturing equipment, and the training of

Lent Hill (LH) is the development and operation of a 2MW facility powered by local farmer’s food waste and silage. LH will process 43K gallons of local food waste per

Capital Impact Partners and Chase provided NMTC financing to Urban Health Plan (UHP), via its support corporation, The Foundation for Urban Health and Well Being, Inc. to expand their existing

During the 55th anniversary celebration of its commitment and service to the community, the Greater Jamaica Development Corporation (GJDC) announced the upcoming opening of its new state-of-the-art office space, Greater

This project will finance the redevelopment of the historic and iconic “History Channel Building,”previously vacant for more than 20 years, into a 188,181 sq. ft. educational facility in the Mott

NYCNCC is providing financial assistance for the construction of a 16-bed, 12,000 sq. ft. alternative to incarceration facility in the East Tremont neighborhood of the Bronx. Launched with significant community

CitySquash uses NMTC financing for the construction of a purpose-built 15,000 square foot headquarters.
NMTC project provides 150,000 square feet for the KIPP NYC network of public charter schools located across The Bronx, Brooklyn, and Manhattan.
Major renovations to a 33,000 square foot Food Bazaar supermarket in Ridgewood increases access to fresh food and produce in an underserved area of Queens.

The Grand Concourse project (minority-owned real estate development firm) will bring a Fine Fare grocery store in the Bronx, NY. The ERF allocation will help fund the purchase and rehabilitation

Urban Assembly Charter School for Computer Science (“Comp Sci High”) is a single-site work-based learning, computer science focused non-profit Charter school in the South Bronx. Founded in 2018 with a

Site visits and recent news related to New York NMTC Projects

Rep. Adriano Espaillat (D-NY) speaks at grand opening of Fine Fare supermarket

Grand Concourse Fordham is a mixed‐use commercial building with a grocery store tenant and a community services tenant.
Jun-2024

Congressman Ritchie Torres (D-NY) Attends Groundbreaking for $39 million New York Regional Food Hub

Construction has started on the 60,000-square-foot New York State Regional Food Hub in the Hunts Point neighborhood of the Bronx.
Mar-2021