Academy for Global Citizenship
The Academy for Global Citizenship (“AGC”), a Chicago public charter school providing a dual-language International Baccalaureate education to low-income students, will transform a 6.2-acre brownfield site into a highly innovative and sustainable…
AeroFarms at Makers Village
AeroFarms, a mission-driven company, developed a 69,000 square-foot industrial site into the world’s largest indoor vertical farm for baby leafy greens, producing up to 2 million pounds annually. AeroFarms has a patented aeroponic process that produces…
AVAPCO
The AVAPCO project consisted of the acquisition, expansion and leasing of an existing biomass research, development, and demonstration facility located in Thomaston, Georgia. The expansion enhanced the production capabilities of the facility and allows…
Aviva Health Center
Aviva Health (“Aviva”), a Federally Qualified Health Center, is constructing the Aviva Health Center in rural Roseburg, Oregon. Aviva will construct a 31,350-square-foot expansion to its existing facility which will better support team-based health care…
Bongards Creameries
Bongards Creameries is a farmer-owned co-op that owns and operates three cheese and whey production facilities in Tennessee and Minnesota. The co-op processes over one billion pounds of milk annually and provides cheese and whey products to food services,…
Boys & Girls Club - Augusta
Boys & Girls Club – Augusta (“Boys & Girls Club”) is the renovation and expansion of the Boys & Girls Club Hagler Facility and the construction, equipment and furniture purchase, and operation of the new South Augusta Facility in Augusta, Georgia…
Broadway Marketplace
The Broadway Marketplace at George Washington Bridge project provided pertinent investment capital into the time worn George Washington Bridge Bus Terminal, directly benefiting the Washington Heights neighborhood of New York City. Built in 1963, under…
Brooklyn Navy Yard
The Building 77 Project is the renovation of the largest, mainly vacant building in the Brooklyn Navy Yard. Building 77, which has been underutilized and deteriorating for many years and is situated in a critical location at the center of the Navy Yard’s…
Butterfly Wonderland
Butterfly Wonderland is a butterfly habitat and educational attraction facility located on the Salt River Pima-Maricopa Indian Community. The Project includes a 3-D butterfly theater, chrysalis laboratory, rain forest butterfly atrium, aquatic displays,…
Calhoun Liberty Hospital
Calhoun Liberty Hospital, a rural critical access hospital, is building a new 39,479 square foot hospital with two operating rooms, physical therapy, respiratory therapy, wound care and I.V. infusion treatment facilities in non-metro Blountstown, Florida.…
Chobani
Chobani is one of New York State’s largest dairy product manufacturers and makes the widely popular Chobani Greek Yogurt. This Project involved the renovation and equipping of a 70,000 square-foot facility in New Berlin, a highly distressed rural part of…
COFFEE CAFE BAKERY
Coffee Café Bakery, a joint venture between four minority business owners, will renovate and fully equip an existing 31,150 square foot warehouse into a baking facility located at 3528 Browns Mill Road in Atlanta, Georgia (the “Project”). The area has a…
Collins Main Street Redevelopment
The Collins Main Street Redevelopment Project, in rural Collins, Mississippi (population 2,592) is the development of mixed-use office, retail and community space with tenants committed to revitalizing the Main Street area. Like many small towns, Collins…
Cook Goodwill
The Cook Group, a privately held medical device company, is investing in a 43,000 square foot medical device manufacturing plant located in northeast Indianapolis, Indiana (the “Project” or “Cook Goodwill”). The facility will be leased to Goodwill of…
Cooper Cancer Institute
The Cooper Cancer Institute in Camden, New Jersey, replaced an underutilized existing surface parking lot and expanded the Health Sciences Campus. The Cooper Cancer Institute building (103,500 square feet) provides for clinical programs, services, exam…
Crosstown Concourse
The highly impactful Crosstown Concourse project preserved the 1.5 million square-foot historic Sears distribution facility and redeveloped the space into a mixed-use facility, anchored by arts, education and healthcare tenants, as well as 269…
DAK Americas
DAK Americas LLC (“DAK”) has acquired a 102,360 square-foot recycling facility and will re-energize and expand the operational capability to produce food grade recycled PET (“rPET”) (“Project”). Prior to DAK’s acquisition, this facility had experienced…
DePaul Cristo Rey
DePaul Cristo Rey High School (“DPCR”), a college preparatory high school that serves low-income students, built new campus buildings and renovated existing space to expand its operations and service offerings to its students. Since it opened in 2011, the…
Eagle Railcar Services
Eagle Railcar Services (“Eagle”) acquired, remediated and renovated the former B&O Railroad Servicing facility, with 10 miles of track and 200,000 square feet of buildings located in rural Washington, Indiana (pop, 12,089), into a full-service railcar…
Educational Alliance
This Project involved the complete renovation of a 100+ year old historic community center for the Educational Alliance, a community-based organization with a long history of serving the community. Educational Alliance offers a wide range of programs…
Excel Boats
Excel Boat Company (“Excel Boats”) renovated and equipped a vacant 90,000 square foot industrial building in rural Union City, TN into a boat manufacturing facility to expand their current operations (the “Project”). The new facility allows Excel Boats to…
First National
The First National Project renovated over 41,000 square feet of the historic former headquarters of the 1915 First National Bank and adjoining and Siegel’s Shoes buildings located in rural Olean, NY. The Project leases space to two local organizations:…
First Place-Phoenix
First Place-Phoenix is a first of its kind, 81,000-square-foot property which houses independent living residential units, a transition academy and a training and leadership institute. First Place-Phoenix includes 67 studio one- and two-bedroom…
Flex-N-Gate
Flex-N-Gate Group (“FNG”), owned by American entrepreneur, Shahid Khan, is constructing a new 494,000 sq. ft. advanced manufacturing facility in Detroit, Michigan (the “Project”). Minority-sponsored FNG is a global automotive component manufacturer that…
Gateway at Oberlin College
The Gateway Project is a LEED‐Platinum, mixed‐use development in Oberlin, Ohio’s new Green Arts District. It will consist of community conference centers, local businesses, college office space, a culinary workforce training facility, and a 65-room hotel…
Good Shepherd School
The Good Shepherd School (“GSS”) provides K – 7th grade education for low-income, underserved urban youth from the most challenged neighborhoods in New Orleans. GSS currently operates out of a donated office building in the Central Business District,…
Green Era Sustainability Campus
This innovative project will redevelop a vacant 9-acre brownfield site into a sustainability campus which includes a biodigester, greenhouse space, community garden with a fresh produce stand and a visitor’s center with classrooms for STEM programs and…
Halsey 106
Halsey 106 is an impactful mixed use project that will consist of approximately 84,000 square feet of affordable housing, retail, office space and social services within the Gateway Urban Renewal area in Portland, Oregon (the “Project”). The Project will…
Historic Apollo Theater
The Historic Apollo Theatre is an iconic landmark, single screen movie house which had fallen into despair. Sponsored by Oberlin College, the rehabilitation and renovation was made possible by an allocation of NMTCs by DVCI as well as Historic Tax…
Husqvarna Forestry Products
Husqvarna Forestry Products N.A., Inc. (“Husqvarna”), a manufacturer of lawn and garden products, will be expanding its facility located in rural Nashville, Arkansas, (pop. 4,501) (the “Project”). Husqvarna plans to construct a 350,000 square foot…
Italpollina Research & Development Facility
Italpollina USA Inc. (“Italpollina”), a developer of organic biostimulant fertilizers will construct and equip a 15,000 square foot research & development facility on a seven-acre site across from its existing operations in Anderson, Indiana (the…
La Central NMTC
The La Central development (“La Central”) was designed to serve as a catalyst for economic development and will supply 992 units of much needed affordable housing, community-serving retail space and community facility space to the neighborhood. La Central…
Lauderdale Community Hospital
Lauderdale Community Hospital, LLC, will construct a new state of the art facility to replace an obsolete hospital in Ripley, Tennessee (the “Project”). The Project will create a significantly improved facility for patients and staff including the latest…
Martinsville Clean Energy
The Martinsville Clean Energy project successfully combined Investment Tax Credits and New Markets Tax Credits for the design, construction and installation of state-of-the-art clean energy generation technology into an anaerobic digestion facility in…
Maya Delano Cinemas
Maya Cinemas North America, Inc. (the “Sponsor” or “Maya”) is a minority owned firm that will develop, own and operate a 45,000 square foot, 12-screen, commercial movie theater which may also serve as a community center in Delano, California (the…
Momeni Distribution Center
Momeni, Inc. (“Momeni”) is a minority owned business and leading manufacturer and importer of area rugs, wall-to-wall carpeting and home décor. Momeni will develop a 302,600 SF warehouse and distribution facility in a severely distressed non-metro area in…
Mt. Poso Green Energy Power Plant Conversion
Facing closure and a major loss of jobs, the Mt. Poso facility converted a formerly shuttered coal fired power plant to utilizing biomass fuel derived from waste wood. Mt. Poso’s primary biomass fuel sources include agricultural waste in the form of…
Multi-Assistance Center
Multi-Assistance Center at Morgan’s Wonderland (“MAC”) will be the new construction of a 165,000 SF one-stop service center providing an innovative approach to address the fragmented and uncoordinated health and social service care offered to low-income…
Neighborhood Health
Neighborhood Health Clinics is a federally qualified health center that provides comprehensive medical, dental, optometry, and integrated behavioral health services to the people of Fort Wayne, Indiana. NHC operates two health centers in Fort Wayne and…
Neshoba County Hospital
Neshoba County Hospital is a 49-bed facility which provides a broad range of primary care services to residents of Neshoba County and surrounding counties. The hospital is a Mississippi Community Hospital owned by Neshoba County. The project involved the…
New Orleans Military and Maritime Academy
New Orleans Military and Maritime Academy is a permanent home for this not for profit, college preparatory charter school (with an inclusive Marine Corps JROTC program) serving primarily at risk youth. The new facility, created from the renovation and…
Nextec
Located in a highly distressed area of Birmingham, Alabama, Nextec will renovate and restore the vacant 47,000 square foot 90-year old historic Edwards Motor Company and create flexible work space and collaboration areas designed for earlier stage…
Ogden Mixed-Use Redevelopment
The Ogden Mixed-Use Redevelopment involves the adaptive reuse of the now-vacant 58,000 square-foot historic Ben Lomond Garage in Ogden, Utah into a creative and arts-focused mixed-use development (the “Project”). The building was originally constructed in…
One East Broadway
One East Broadway is a mixed-use project situated on the newly opened urban transit “Modern Streetcar” line in Tucson, Arizona. Located in a census tract with an unemployment rate of 15.30%, the LEED Silver certified project will deliver lease rates…
Parkview Warsaw
Parkview Health System, Inc. is a nonprofit corporation and regional healthcare provider, which was formed in 1995 and is a community based health system. Parkview serves the northeast Indiana and northwest Ohio population of more than 820,000. It…
Provident Public Health Center
IS3 Team LLC, a joint venture partnership, acquired the historically significant 300,000 square foot Provident Mutual Life Insurance Building which has been vacant for over 20 years, to renovate it into the Provident Public Health Center, a medical campus…
Rich Products
Rich Products Corporation is a supplier of frozen cakes, confectionaries, desserts, seafood, family meals, appetizers, artisan breads, and other products. Rich produces over 2,000 products that are sold in over 112 countries employing more than 12,500…
Roswell Park Cancer Institute
The Roswell Park Cancer Institute, founded in 1898, is located on the east side of Buffalo, New York and has a long history of substantial involvement in cancer screening, preventative medicine and cancer treatment, specifically targeted to low income…
Rural King
Rural King will acquire an 800,000 square foot building which will be renovated to allow for expanded operations in Waverly, Ohio (the “Project”). The new facility is a former cabinet making operation which sat vacant for years prior to Rural King…
RWDC Bioplastics
RWDC Industries, LLC (“RWDC”) is a startup bioplastics manufacturer founded in 2015 in Athens, Georgia. RWDC acquired a shuttered industrial site and is constructing a 4kt commercial demonstration facility producing biodegradable biopolymers (the…
Salvation Army - Center of Hope
The Salvation Army in Birmingham operates in a dated, deteriorating 50-year-old facility which is inadequate to accommodate the current and increasing need for transitional housing for those facing homelessness and other vitally important services to the…
Salvation Army Center of Hope - ATL
Salvation Army of Metro Atlanta is constructing an approximately 46,000 square feet, five-story addition to its current Red Shield Shelter, which will include 230 emergency shelter beds (a 52% increase), an education and workforce development center,…
Stadler Rail
Stadler Rail will construct a new 226,000 square foot, state-of-the-art manufacturing facility for light rail passenger cars in Salt Lake City where they will build and assemble trains for transit properties throughout the US (the “Project”). The Project…
Steeple Square
Steeple Square is the development of a 23,000 SF community and training campus and day care that will serve as a collaborative multi-tenant center, rehabilitating the former iconic St. Mary’s Parish built in 1867 (the “Project”). St. Mary’s Parish closed…
The Crossings at Brick Church Station
The Crossings at Brick Church Station is an urban, mixed-use redevelopment anchored by a 68,000 square foot ShopRite Supermarket, 24,000 square feet of retail space, Newark Community Health Center, a Federally Qualified Health Center, public open space,…
The Mill Redevelopment
The Mill Redevelopment, located in rural Starkville, Mississippi (population 23,888), is the adaptive reuse of a historic, 111-year old shuttered cotton mill and new construction on a site that has been virtually inactive since 1962. The mixed-use…
Towne Twin Village
Housing First Community Coalition (“HFCC”) will repurpose a 17.3 acre vacant drive-in movie theater into a community campus serving chronically homeless individuals, 50 years of age or older, with physical and/or mental disabilities. HFCC is developing…
Trident Seafoods
Located in the State of Georgia, which is historically underserved by the New Markets Tax Credit Program, DVCI’s investment allowed Trident Seafoods to establish an East Coast fish processing and distribution facility, which was otherwise cost…
TruStile Doors
TruStile Doors, LLC (“TruStile”) manufactures quality architectural doors made from medium‐density fiberboard engineered wood, a 69% recycled product, in its Denver manufacturing operation. TruStile is consolidating its existing Denver operations and…
Tupelo Foam Mattress Facility
Ashley Furniture Industries, a home furnishing manufacturer and retailer, is expanding its production capabilities by repurposing an abandoned building into a state-of-the-art facility that will pour foam and included a storage warehouse located in…
Utica Place
Utica Place is a mixed‐use project located in the highly distressed Crown Heights neighborhood in Brooklyn, New York. In partnership with St. Matthew’s Church, the Project brings critical community space, urban retail, and daycare to this under-served…
KRESS AT THIRD & MAIN
The Kress at Third & Main Project is comprised of three buildings on the National Register of Historic Places. The buildings were constructed individually in the late 19th and early 20th centuries. The Kress Building was a focal center of social exchange…
22 East Jackson Street
Constructed in 1930, this warehouse was an ancillary building for the Arizona Hardware Supply Company. The warehouse was a modest building, enhanced by its brick façade, stepped parapet and two loading docks at rail height, with a central door at street…
Chestnut Homes
Chestnut Homes is a 76-unit, affordable housing property in Passaic, New Jersey. The property was developed by the Longstreet Development Corporation, featuring seven wood-framed, vinyl siding and brick-covered, two-story buildings. Originally…
Roseville Commons
Roseville Commons is a five-story, mixed-used affordable housing venture, cultivated by RPM Development, featuring 10,000 square feet of retail space, rooftop solar panels, green technology, and 50 units of affordable housing, with 23 units set aside for…
Attucks Theatre
This 86-year-old theatre is one of the few remaining venues of the historic “Chitlin Circuit.” The project is an integral component of the Church Street comprehensive redevelopment initiative administered by the Norfolk Redevelopment and Housing…
Eley Guild
The Eley Guild project encompassed the renovation of the historic First National Bank building located in the Business Improvement District in downtown Jackson, Mississippi by the Eley Guild Hardy Architects in order to expand and centralize their Jackson…
Holy Cross School
The Project relocated the Holy Cross School following the destruction of its campus in Hurricane Katrina. The School has educated young men in the New Orleans community for over 125 years, carrying out this mission from its original campus in the Lower…
Jazz @ Walter Circle
Jazz @ Walter Circle is a four-story mixed-use facility that includes 74 apartments for senior citizens. The development includes a community center, offices, a health facility, a grocery store and other retail space. Being LEED Gold certified, the…
Junction Hilltop Wind
The Junction Hilltop Wind project is a community wind project located in a highly distressed, high migration, rural county near Dana, Iowa. It consists of the installation and operation of 5 small scale wind farms, with 8 MW power generation capacity. The…
Kress at Third & Main
The Kress at Third & Main Project is comprised of three buildings on the National Register of Historic Places. The buildings were constructed individually in the late 19th and early 20th centuries. The Kress Building was a focal center of social exchange…
Lift Orlando
Lift Orlando will build and operate a new ~30,000 square foot, two-story Health and Wellness Center within the West Lakes Community Campus in Orlando, Florida (the “Project”) anchored by a Federally Qualified Health Center (“FQHC”). The Project will also…
MPHC – Baseline Campus
The Mountain Park Health Center – Baseline Campus (“MPHC”), utilized New Markets Tax Credits for the renovation of a 21,000 SF three-story building in order to expand an existing health clinic in Phoenix, Arizona. Currently, MPHC operates a health care…
OASIS HOSPITAL
Situated in a highly distressed census tract in Phoenix, Arizona, OASIS is a 94,000 square foot hospital facility for orthopedic and spine procedures developed by a unique partnership of 42 orthopedic and spine surgeons in the Phoenix area, Catholic…
Turtle Island Foods
Turtle Island Foods, the manufacturer of Tofurky, is constructing a plant-based food processing production and distribution facility. The project is located on a 1.27 acre parcel at the Hood River waterfront. The building has a total of 60,531 square…
Westin Beale Hotel
The nine-story hotel features 203 rooms, a Starbucks and the Sole Restaurant & Raw Bar. The construction of this $40 million hotel was made possible by the inclusion of New Markets Tax Credits. Over the past two decades, the Memphis economy has undergone…
Winston Medical Center
The new Winston Medical Center (“WMC”), replacing the original medical center destroyed by an EF-4 tornado in April 2014, will include a 24 bed full-service hospital, 120 bed long-term senior care and rehabilitation facility, and a medical office building…
STUDEBAKER INNOVATION CENTER
The Studebaker Innovation Center is the redevelopment of the formerly shuttered Studebaker complex, once one of the largest automakers in the United States. Studebaker closed its doors in 1963 and left the City of South Bend struggling to revitalize the…
MOUNTAIN PARK HEALTH CENTER
The Mountain Park Health Center (“MPHC”), utilized New Markets Tax Credits for the acquisition and renovation of a vacant 30,000 square foot, former boat dealership in Tempe, Arizona. MHPC, a federally qualified health center, has currently been operating…
German Club
The German Club is the rehabilitation of the shuttered, historically significant 16,000 square foot German American Club building, and the construction of an adjacent 15,000 square foot structure in Tampa, Florida (the “Project”) by German American Tampa…
Our Lady of the Lake
The project is the development of a solar energy facility in Lake Havasu City, Arizona in order to lower the electric utility bills of Our Lady of the Lake Catholic Church utilizing a renewable energy source. The facility’s estimated annual output is…
FUEL CELL INVESTMENT
Located in San Diego, California, the project consisted of the $8 million financing of two Doosan Fuel Cells at California State University San Marcos. Biofuels Energy, LLC, the project developer, is utilizing two PureCell® Model 400 fuel cells capable of…
Rural King / Waverly, Ohio$6,000,000
Project Description
Rural King will acquire an 800,000 square foot building which will be renovated to allow for expanded operations in Waverly, Ohio (the “Project”). The new facility is a former cabinet making operation which sat vacant for years prior to Rural King bringing a distribution facility to the market. Rural King, founded in 1960, is a family-owned farm supply store based in Mattoon, Illinois which currently has 119 stores across 13 states. The Project will enable Rural King to grow into new regions and open additional stores, creating widespread direct and indirect impacts for rural communities.
The Company is making good
faith efforts to include vendors and suppliers from the local low-income
community and women and minority owned businesses. The project will allow for expanded
fulfilment capabilities for as many as 60 new retail stores to be opened over
the next five years.
Located
in an area with a poverty rate of 22.2% and an unemployment rate of 9.4% (1.13x the national average),
the Project will create 75 new, full-time jobs, retain 75 full-time jobs, and
create 30 construction jobs. Over 50% of these newly-created and retained jobs
have low barriers to entry and will be readily available to low-income persons.
Rural King will work with local organizations, such as the Community Action
Committee (“CAC”) of Pike County, to recruit and train residents of the
low-income community. The CAC’s Workforce & Business Development division
provides career guidance, job seeking, skill development, training and other
programs for youth and adults, including unemployed and underemployed
populations.
Rural
King evaluated several sites for the new distribution center and was
considering the acquisition of a facility in another state with a lower
purchase price but was not located in a low-income community. NMTC financing
enabled the Project to be undertaken in the low-income community, bringing
costs in line with the more competitive location. The NMTC financing helped to
overcome the significant capital outlay and additional training costs. The NMTC
net benefit allows Rural King to create jobs, generate economic impact, and
provide shopping opportunities to residents in a severely distressed rural
community with high poverty.
Ohio Community Development
Finance Fund provided additional NMTC allocation of $14,000,000 and Valley
National Bank acquired the New Markets Tax Credits.