Real Estate
New Markets Tax Credit

Leveraging tax credits to finance high impact community projects

New Markets Tax Credit

Our Impact

  • $299 million invested in commercial real estate and Native American projects in low income communities
  • More than 1,200,000 square feet of new or rehabilitated non-profit community facility spaces financed
  • Facilities serve more than 390,000 low-income clients
  • More than 3,000 construction and 2,700 permanent jobs created or retained for low-income persons (81% of permanent low income jobs pay living wages)
  • $368 million in additional capital leveraged with our financing

Our Focus

  • Non-profit community facilities providing services (such as education, healthcare, food, shelter, etc.) to low-income communities
  • Native American projects that generate living wage jobs for tribe members
  • Retail projects anchored by healthy food grocery stores located in "Food Deserts" where nutritious foods are not available

Key Project Criteria

  • $5 million minimum project size
  • Located in a qualified low-income census tracts in the Western United States (California, Oregon, Washington, Montana, Idaho, Nevada, Arizona, Utah, Wyoming, Colorado, New Mexico, Texas, and Hawaii)
  • Projects involving new construction or substantial rehabilitation of commercial space. Not for most types of housing
  • Must provide clear and substantial benefits to low-income populations including significant construction and borrower jobs

Click here for Detailed Project Criteria

 

 

 
Opportunity Fund invested $11.5 million to renovate the historic Mission Clubhouse.
Boys and Girls Club of San Francisco- Opportunity Fund invested $11.5 million to renovate the historic Mission Clubhouse.
Opportunity Fund invested $9.6 million to support 68 homes
Habitat for Humanity East Bay- Opportunity Fund invested $9.6 million to support 68 homes

For more information:

Jeff Wells
Vice President, New Markets Fund Director

$299

million

invested in low-income communities