Mary LaGarde – Agnew, Minneapolis American Indian Center, MInneapolis, MN
The New Market Tax Credit program has been a valuable source for the Minneapolis American Indian Center’s renovation and expansion project. These funds helped to drive the capital fundraising efforts of the Minneapolis American Indian Center, and without NMTC, the $35 million project may not have been a reality. Additionally, urban American Indian community members […]
Tim Swenson, Midwest Minnesota Community Development Corporation, Detroit Lakes, MN
Working with our NMTC Borrowers I have seen first hand what a difference this program can make with our Borrowers stories. From the business to their employees to the their communities it really can change people’s lives.
Taylor Smrikarova, Seward Redesign, Inc., Minneapolis, MN
The NMTC tool is invaluable and we would not have had as much success revitalizing our South Minneapolis Service area without it. It made the equitable development project, The Coliseum, possible. It should be fully funded and never sunset.
Jorg Pierach, Herbst Eatery & Farm Stand, Saint Paul, MN
NMTCs allowed us to bring our vision for a neighborhood eatery and market to life. We could not have pulled this off without it. We’ve created more than 40 liveable-wage jobs with healthcare and retirement benefits, and have helped transform an overlooked and underserved urban neighborhood in the process.
Dick Anderson, Dick Anderson Construction, Helena, MT
We have used it on several projects. The projects would have not been able to come to fruition without this program.
Betsy McGovern-Garcia, Self-Help Enterprises, Visalia, CA
The NMTC is the only option we have for creating affordable homeownership opportunities. Due to rising costs and interest rates, homeownership is out of reach for low-income families. NMTC is crucial in our ability to help low0income families achieve this dream and great the cycle of poverty.
Ken Jenkins, Refuge and Restoration, Florissant, MO
Our organization received NMTC for a community project that would not have happened without them.
Helga Arminak, CEO of APackaging Ohio
As a proud women-owned company, we’re dedicated to delivering groundbreaking product innovation and value. This new facility is a one-stop-shop for all packaging needs from concept to production and will provide our customers a powerful competitive advantage.
Kevin Bryant, Kingsway Development, St. Louis, Missouri
I am a Developer who’s primary focus is underserved communities. To date, my organization has created over $90M worth of new investments in communities that have been historically disinvested. Without NMTC’s none of these project would have been possible.
Lance Henning, Habitat for Humanity, Greater Des Moines, Des Moines, Iowa
NMTC’s are a tremendous tool to create needed neighborhood investment.
Joseph Summers, Urban Action Community Development LLC, Baltimore, Maryland
NMTC provides critical gap funding for difficult to finance real estate projects.
Joe Whitaker, Office of Economic Development, City of Jacksonville, FL
NMTC Program is a unique economic development tool to incent new investment in underserved economically distressed area. It is a valuable incentive to assist a local developer to invest in the redevelopment of Jacksonville’s Historic National Guard Armory Building. Built in 1916 and abandoned in 2010.
Joe Bartmann, Dakota Resources, Renner, SD
NMTC makes many significant projects happen in rural communities that just would not be possible without it. With so many vulnerable and underserved people living in our rural places, the impact one NMTC project can create is unmatched by any other federal program.
Sean Murphy, Sean Murphy, Utah Transit Authority (UTA), UT
NMTC’s are a crucial piece of financing to help UTA construct high quality affordable housing and community-led assets around transit stations.
Doug Mayer, Stone Soup Development, Miami, FL
I have personally seen how NMTC have benefited our community and I strongly support them being made permanent.
Jonathan Huck, East Liberty Development Inc, Pittsburgh, PA
NMTCs provide another vital tool in solving both the affordable homeownership challenge plus seed quality homeownership options in transitional neighborhoods, encouraging private investment.
Tom Bitting, Hoosier Solar Holdings, Colorado Springs, CO
NMTCs are an incredibly valuable financing tool to revitalize communities. I have personally been involved in not only real estate developments, but also project finance, and operating business financing using NMTCs. I cannot say enough about the value of NMTCs when used to support operating businesses (with respect to job growth), and permanency will expand […]
Mark Russell, YMCA of South Florida, Fort Lauderdale, FL
The funds provided with NMTC in 2019, allowed the YMCA to build a new YMCA in the Sistrunk corridor of Fort Lauderdale. The community is a Severely Distressed zone, with unemployment over 19%, Poverty rate over 24%. The YMCA is the first major project in the area and has generated new project to revitalized the […]
Maxine Clark, Delmar DivINe, St. Louis, MO
Our historic reimagination project would have been impossible without the NMTC program. It was an integral part of our capital stack and the project itself–7 years in development, is having a very positive impact on St. Louis.
Ali Parrish, Iowa Heartland Habitat for Humanity, Waterloo, Iowa
Our community has benefited multiple times through the use of NMTC. When so few options exist to make the dollars and sense work on some revitalization and economic growth opportunities, this has been one that fits across multiple types of developers in the sector.
Jim Morris, Greater Indy Habitat for Humanity, Indianapolis, IN
The cost of providing affordable homeownership is increasing as is the gap between what individuals and families can afford and what is available. The more financial tools we have to help provide the stability of ownership, the better. NMTC are a valuable tool to help provide the funding structure needed for making an impact. They […]
Donna Gambrell, Appalachian Community Capital, Christiansburg, Virginia
The Appalachian Region encompasses 423 counties in 13 states. It has the highest concentrations of economically distressed counties in the nation; 25 of the 100 poorest counties and 106 Persistent Poverty Counties (28% of all PPCs in the U.S.) are located here. Of the region’s 25.6 million residents, 42% are rural compared to 20% nationally; […]
Deborah McKetty, SC Community Loan Fund, Charleston, SC
SC Community Loan Fund has used $35M NMTC to help low income communities grow throughout the state. NMTC have become a critical tool in community economic development and we see a growing need and support making it a permanent part of the IRS code.
Maureen Sedonaen, Habitat for Humanity Greater SF (Marin-SF-San Mateo), SF, CA
Resources to build and produce more 100% affordable homeownership opportunities are far too rare. NMTC provides this critical support on projects that support us fulfilling our mission and serving our communities. We need every tool in our tool box we can possibly get. NMTC is a vital too.
Cathy Williams, NeighborWorks Columbus, Columbus, Georgia
The NMTC has enabled NeighborWorks Columbus (Georgia) to facilitate transformative change, both for entire neighborhoods as well as for individual families, within our home of Muscogee County. Apart from this incredibly productive infusion of NMTC resources provided to NeighborWorks Columbus, such course-altering transformation would have never been possible for targeted areas of our community which […]
Luisa Buada, Ravenswood Family Health Network, East Palo Alto, California
Ravenswood Family Health Network was able to build a $38 million dollar medical clinic with NMTC support. We fulfilled our 7 year financing period in November of 2021 and now own our 38,300sf facility outright including 3.15 acres of property. NMTC works!
Larry Lallo, Merritt Island Redevelopment Agency, Merritt Island, FL
The NMTC has proved itself to be a valuable catalytic resource, filling the gap to make projects happen, especially of benefit to low-moderate income households, that otherwise, quite frankly, without it, many projects would never have been completed, which are serving thousands of people every day.
Darian Luckett, IFF, Milwaukee, WI
The NMTC has opened up the door for community developers to make substantial investments in underdeveloped and disenfranchised neighborhoods.
Bret Salscheider, YMCA of the Fox Cities, Appleton, Wisconsin
As the former CEO of the South Wood County YMCA, our community witnessed first hand the power of this program and the catalytic impact it on the overall health and well-being of individuals and the community. It has a been a beacon of hope and shining example of transformative impact and collaboration. Thank you for […]
Edward Gaston, Wealth Watchers, Jacksonville, Florida
Development of strong communities will make our nation stronger. The NMTC program is a valuable tool to uplift neighborhoods.
Reydel Santos, Veteran Housing Corp, Ocala, FL
Despite all of the news reports about what the most important issues facing America right now are, the lack of AFFORDABLE HOUSING in America is a major issue. During the last several years communities all across America have seen afordable housing developments convert to market rate rents and in some communities rents have more than […]
Dwight Berg, Public Economics, Inc., Orange, CA
NMTC is an important subsidy to help schools in low-income communities afford equitable school facilities.
Joshua Simon, Community Arts Stabilization Trust (CAST), Oakland, CA
For community based economic development and nonprofit owned community facilities, this is a critical funding source that pays for up to 15-20% of project costs (after the expense of the tax credits). From YMCA youth centers and youth afterschool programs, to cultural facilities, such as Seattle’s Wing Luk Museum and San Francisco’s Jazz Center, important […]
Inez Long, BBIF, Orlando, Florida
NMTC investments create economic impact creating jobs and providing community assets in underserved and BIPOC communities.
Carrie Rathmann, Habitat for Humanity Philadelphia, Philadelphia, PA
NMTC are a tool that Habitat affiliates can use for creation of affordable housing. Currently Habitat Phila. is utilizing NMTC to provide funding for the construction of a 21-unit new, green homeownership development for households making between 30-60% AMI.
Valerie Renk, Habitat for Humanity of Dane County, Madison, WI
New Markets Tax Credits have helped our organization address the affordable housing crisis by partnering with modest means families to enable them to buy their first home. This helps close the equity gap, builds sustainable families and stronger communities!