New markets tax credits make possible The Salvation Army’s new Chicago center April 1, 2015

The Salvation Army is relocating its Freedom Center building from its home of 36 years on Chicago’s west side to a 6-acre site in West Humboldt Park. The 187,575-square-foot building also will serve over 22,000 residents in the campus’ Corps Community Center, which includes a food pantry, medical clinic, and youth recreation programs.

The new facility will expand capacity by almost 30 percent for its Pathway Forward program, which helps formerly incarcerated individuals reintegrate into the community. For the last three years, the organization worked closely with local groups including CeaseFire Englewood, Chicago Commons Association, and the Nia Comprehensive Center for Developmental Disabilities to offer programs that reflect the neighborhood’s needs.

IFF is helping to make possible the $62.5 million project by allocating $11 million in new markets tax credits, with JPMorgan Chase as the NMTC equity investor. Great Lakes Capital Fund also provided $9 million in NMTCs. This is the fifth and last NMTC project financed through IFF’s $43 million allocation from last year.

The new center will create up to 10 new jobs while retaining 174 positions. The project also will create 50 temporary positions, and the Salvation Army is sponsoring training for five local residents who then will have construction jobs on the site.

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