Finance Fund Invests in UC Gardner Neuroscience Institute
University of Cincinnati Gardner Neuroscience Institute (UCGNI) is comprised of a diverse group of world-class physicians and faculty that provide specialized services for complex neurologic and psychiatric disease, illness, and injuries. Finance Fund provided $8 million of federal NMTC allocation; Cincinnati Development Fund, Inc. provided $8 million of federal NMTC allocation; Uptown Consortium, Inc. provided $20 million of federal NMTC allocation; and Capital One Community Renewal Fund, LLC, the investor, provided an additional $5 million of federal NMTC allocation.
A New Dawn for Wind Energy Infrastructure After the Production Tax Credit Sunset
The wind industry is approaching the end of its federal financial support. The Production Tax Credit (PTC), is set to expire for large wind facilities, meaning that no wind projects entering construction or procuring equipment after the next few months will be eligible for federal support.
PA Awards $41.6M in Housing Tax Credits
Pennsylvania Gov. Tom Wolf announced awards of $41.6 million in low-income housing tax credits (LIHTCs) and $7.7 million in PennHOMES funding for the creation and preservation of 39 affordable housing developments. The funding will help create and preserve over 1,700 rental units for low-income households in 19 counties across the state.
PR Begins Economic Recovery
Buildings and infrastructure are still being repaired and upgraded, and the government has instituted a full slate of tax incentives to lure investors. On top of this, Puerto Rico is the beneficiary of community development block grant funding, and 97% of the entire commonwealth — much of it beachfront — has been designated a qualified opportunity zone.
Oakland, CA Community Foods Market Uses NMTC
The neighborhood of West Oakland, California got a much-needed grocery store with a healthy foods focus, which was financed partly by a new markets tax credit (NMTC) investment. Community Foods Market is an independent grocery store looking to improve public health and economic opportunities in the community.
Beaverton, OR Housing Project Will Use $3M from Bonds, $11.4M in LIHTC
The Beaverton Planning Commission has approved the city's first project that will receive a share of the Metro housing bond approved last year. The $20.9 million project includes $3 million from Beaverton's $31 million approved by Metro voters last year and the largest share of the project will be from a federal tax credit for low-income housing at $11.4 million.
Lawmakers Introduce Legislation to Spur Rural Economies
The Rural Jobs Act would build on the proven success of the New Markets Tax Credit (NTMC) by increasing the flow of private investment to rural areas. It would also help close the job creation gap by designating $500 million in NMTC investments for "Rural Job Zones".
Affordable Community in Boston, MA Receives $17M in LIHTC
MassHousing is providing MPDC with a $9 million construction and permanent loan, a $21.4 million bridge loan and $2.7 million from an opportunity fund. The transaction also includes $17.2 million in federal low-income housing tax credit equity from the Massachusetts Department of Housing and Community Development.
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