Affordable financing for high impact community real estate projects.
New Markets Tax Credit
- $129 million invested in commercial real estate projects in low income communities
- More than 900,000 square feet of new or rehabilitated non-profit community facility spaces financed
- Facilities serve more than 500,000 low-income clients
- More than 2,000 construction and 1,000 permanent jobs created or retained
- $225 million in additional capital leveraged with our financing
- Non-profit community facilities providing services (such as education, healthcare, food, shelter, etc.) to low-income communities.
- Economic development projects that catalyze low-income neighborhoods, such as 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 tract in California.
- Projects involving new construction or substantial rehabilitation of commercial space. Not for housing.
- Must provide clear and substantial benefits to low-income populations including significant construction and borrower jobs.
For more information:
Vice President, New Markets Fund Director
invested in commercial real estate projects in low-income communities
Coachella Valley Rescue Mission$11.44 millionAn investment helped establish the new facility in Coachella Valley for the homeless.
Dream Center$16.1 millionOpportunity Fund helped finance one of the largest human service providers in LA.
Seattle Children's Hospital Research Institute$3.7 millionThe institute is a research facility in the Northwest for pediatric diseases and illnesses.