Project Financing Plan
As we make plans to move forward with these projects, we have assembled a robust budget and financing plan, which includes both private fundraising dollars and New Market Tax Credits. Let's be clear: we cannot bring this project to fruition without your support!
New Market Tax Credits
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New Market Tax Credits (NMTC) is the first tax credit program to stimulate commercial investment in “low-income communities.”
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The program is administered by the U.S. Department of Treasury, through a division called the CDFI Fund, in a unique public/private partnership with Community Development Entities (CDEs).
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Program is very competitive, as both CDEs and borrowers must be selected to utilize a very limited supply of credits.
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The NMTC program strives to create additional economic development for the community, attract and retain skilled workforce, and drive capital investments to underserved, qualified Low-Income Communities.
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By utilizing NMTCs, 20%-25% of the total project costs can be covered.
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Projects are typically >$5MM in size and focus on community facilities.
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Below is a chart that shows the organizational structure of a NMTC transaction.
Before we can make substantial progress,
we must raise 75% of the total project cost.
Will you join us?
If you would like to walk beside us on this journey and support the project with a financial contribution, or should you have additional questions regarding these projects, please contact Kevin Weber.
Please click on one of the logos below to learn more about the project.
