New Markets Tax Credits

Leveraging an $11.425 million New Markets Tax Credit allocation from IFF, the Lac Courte Oreilles Band of Lake Superior Chippewa Indians is developing a new, state-of-the-art tribal health center in Sawyer County, WI, that will consolidate two aging facilities into one new location. Doing so will nearly double the clinic’s capacity and enable the expansion of existing services and the launch of new health and wellness programming designed to more comprehensively meet the health care needs of tribal members and other residents in the rural area. During construction, the project created 42 jobs. Other measures of impact include the retention/creation of 121 FTE jobs and access to quality health care for 14,200+ patients making more than 77,400 annual visits to the health center. 

Leveraging a $7 million federal New Markets Tax Credit (NMTC) allocation and a $1 million State of Ohio NMTC allocation from IFF, the YMVA of Greater Toledo developed a new, 44,100-square-foot facility that doubled the organization’s previous space. Going beyond traditional membership programming at the YMCA, local residents have access to mental health services, workforce development programs, youth services, a food pantry, and more. In addition to the new facility, the NMTCs enabled the construction of a 148,100-square-foot park on the site of the YMCA’s previous facility. The project created 125 construction jobs and 50 FTE permanent jobs.

Leveraging a $9 million New Markets Tax Credit allocation from IFF, K-8 public charter school Academy for Global Citizenship redeveloped a six-acre site once home to a public housing complex to create a community wellness, learning, and sustainability hub. The campus includes a 71,000-square-foot facility that enabled AGC to bring its operations under one roof and increase enrollment, an early childhood education center, a federally qualified health center, and a community produce market and café. Future phases of the project will enable the campus to achieve certification through the Living Building Challenge – the most rigorous environmental sustainability standards on the planet. During construction, the project created 100 FTE jobs. Other measures of impact include the retention of 67 FTE jobs and creation of 33 new FTE jobs; the creation of 22 new K-8 seats and 120 ECE seats; and the provision of quality health care and behavioral services for up to 2,700 people annually.