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

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50 PENN (2022)

Brooklyn, NY

NMTC funding will provide funds for a new “FRESH” supermarket, plus operating expenses during lease-up and working capital during rent-abatement period. This project’s financing is part of a $10.5 million

The Chautauqua Center (2022)

Dunkirk, NY
The construction of a new 37,500 sq. ft. health center facility that will consolidate two existing stand-alone sites (a primary care site, and a co-located behavioral health and dental health

Child Advocacy Center of BestSelf (2022)

Buffalo, NY

This transaction supports for the new home for the Erie County Child Advocacy Center and headquarters for BestSelf. BestSelf Behavioral Health is the largest community-based additional program locations. BestSelf is

GJDC Business Training Center (2022)

Jamaica, NY

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

Lent Hill Ag-Grid (2022)

Cohocton, NY

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

Dream Charter School (2022)

Bronx, NY

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

Neighborhood Health Center of Western New York (“NHCWNY”) Riverway and Mattina projects. (2022)

Buffalo, NY

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

Alstom Transportation (2021)

Hornell, NY
RDP allocated $10M in NMTCs to help Alstom expand their specialized manufacturing equipment line to rural America, and continue investing in Hornell (NY) as a key long-term U.S.

Community Healthcare Network Jamaica Health Clinic (2021)

Jamaica, NY
A new $11 million, 15,000 sq. ft. health clinic located in a medically underserved area in Downtown Jamaica, Queens.

GrowNYC Bronx Point Food Distribution Center (2021)

Bronx, NY
A new $40 million, 60,000 sq. ft. fresh food distribution center in Hunts Point, Bronx.

Saint Johns Community Hospital (2021)

Far Rockaway, NY
NMTC financing for the construction of a new 52,073 sq. ft., four-story health center located at 510 Beach 20th Street in Far Rockaway, NY.

Salt City Market Mixed-use (2020)

Syracuse, NY
New 78,000 sq. ft. mixed-use development that transforms a vacant lot, located at the intersection of 3 impoverished neighborhoods, into a mixed-use, multicultural, community hub.

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.

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.

The Commissary Kitchen Incubator’s Ribbon Cutting at Rochester’s Sibley Building

Schumer Has Made The Extension Of The NMTC Program A Top Priority;
First National is the historic renovation of the long-abandoned 1915 First National Bank building and adjacent former Siegel's Shoes building in downtown Olean, New York. The former bank floor, mezzanine, and former Siegel Shoes building feature commercial, event, art spaces, and Class A Office Space.

Olean, NY