new markets tax credit · 10/6/2020 · • dallas lite & barricade has been locally owned and...

New Markets Tax CreditProject Look Book | 3Q2020

Lisa Irons

Akron-Canton Regional Food BankOhio

Area & Project Information

$7,500,000

Akron-Canton

Regional Food Bank

Akron, OH

Capital One, investor,

in partnership with

Capital One Community

Renewal Fund & Development

Fund of the Western Reserve

Artist rendering of the new Akron-Canton Regional Food Bank

2Q2020

18 full-time equivalent jobs

with average pay that is at

least 32% greater than the

area’s median family income

17 Construction jobs

Full-time employees receive a generous benefits

package including a 403(b) retirement savings plan

with a corporate match

The facility will be a food distribution hub for partner

agencies, contributing to a dramatic increase in the

availability of fresh, healthy food in the area

Capital One Deal Team: Bert Holland, RM; Kyle Fontanille, UW; John Chamberlain, NMTC

• Construction of a 40,000 SF “food campus” consisting of a small-scale food market or free food

distribution point, plus a community kitchen, meeting rooms for local non-profits and an area to

host farmers markets.

• The Akron-Canton Regional Food Bank has successfully operated another facility in the area

which has been at capacity for two (2) years. Prior to this expansion, the Food Bank provided

almost 2 million pounds of fresh produce to county residents in the most recent year.

• Project is located in a USDA Food Desert with a poverty rate of 41.8% and an unemployment

rate of 16.4%. Stark County economic development partners view the increased access to

healthy food as a critical component to the area’s growth, development and revitalization.

• Mayor Thomas Bernabei, City of Canton, and Ohio State Representative Thomas West have lent

their endorsement to the Project.

Arris ManufacturingSouth Carolina


$18,000,000

Arris Manufacturing

Clio, SC


in partnership with


Renewal Fund & The Innovate

Fund

1Q2020

132 full-time jobs with an

average hourly pay that is

higher than the county’s living

wage & per capita income


More than 100 positions will require only a high school

diploma or equivalent, making most jobs accessible to

low income persons

• Acquisition and retrofitting of the former Baldor Electric facility which sat dormant since 2016.

Arris Manufacturing, LLC will repurpose the facility to build modular housing units for use in

multi-family housing.

• Arris uses the latest automation technologies to offer state-of-the-art construction services

designed to deliver residential communities with a speed, quality, and cost-effectiveness that is

unprecedented in the modular housing industry.

• Project is located in a non-metropolitan area with a poverty rate of 30.9% and an unemployment

rate that is 2.93 times the national rate. Marlboro County is implementing a rural transportation

project that will assist in getting workers to the facility, with a bus stop directly in front and looping

throughout the county.

• Governor Henry McMaster lent his support and expressed that he is “excited to see all that Arris

Manufacturing will achieve in Marlboro County in the years ahead.”

Company provides a workforce development pathway

where employees can start as apprentices to master

craftsmen, then progress from unskilled laborers to skilled

tradespeople

Capital One Deal Team: Mark Preston, RM; Kyle Fontanille, UW; John Chamberlain, NMTC

Arial photograph of building

Biomass Green FuelsPuerto Rico


$7,500,000

Biomass Green

Fuels

Fajardo, PR


in partnership with

Popular Community Capital,

LLC

• Construction of a landfill recycled and renewable natural gas and carbon dioxide facility on a 2.5-

acre site to improve Puerto Rico’s environmental well-being and energy self-sustainability.

• The leadership of Biomass Green Fuels, LLC, a Puerto Rico-based company, has worked for

years to develop the technology needed to transform an extreme polluter- landfills- into a green

fuel energy supply. The principals have more that 50 years of experience engineering EPA

compliant landfills.

• Project location received a major disaster declaration due to Hurricanes Irma and Maria (2017)

and the surrounding community has a poverty rate of 63% and an unemployment rate which is

3.35 times the national average.

• The island will see a significant environmental impact, experiencing a reduction in landfill

pollution and greenhouse gasses by more than 90% and particulate and sulfur dioxide by 99%.

3Q2020

13 full time jobs, of which

65% will be filled by low

income persons or residents of

low-income communities


3 Part-time jobs

Sponsor will offer STEM-related educational programs,

tours and internships with a goal to enhance the

curriculums of area schools through hands-on learning

opportunities

Full time employees will be offered up to 80 hours of

bilingual training each year, including topics such as

biorefining, nitrogen removal and the liquefication of

natural gas and carbon dioxide


Cristo Rey St. Martin College PrepIllinois


$10,000,000

Cristo Rey St.

Martin College Prep

Waukegan, IL


in partnership with

Enhanced Community

Development LLC

Artist rendering of Gymnasium interior

• Development of 47,000 SF of unused retail space into a Fine Arts Makerspace, a Performance

Stage, a Gym/Fitness Center and additional classrooms for a high school. Project will expand

capacity for the school’s college readiness programs while expanding resources for

extracurricular enrichment programs.

• Cristo Rey St. Martin (CRSM) was founded in 2004 as a part of the Cristo Rey network of 35 high

schools which serve 12,000 low-income students in 22 states. CRSM does not require an

entrance exam or a specific GPA; their only admissions qualifier is that students must be low-

income and they do show preference to first-generation potential college students.

• Project is located in the Waukegan/North Chicago Enterprise Zone. The area’s poverty rate is

24.2% and their unemployment rate in 1.49x the national average.

• Waukegan Mayor Sam Cunningham stated the CRSM redevelopment was “an important catalyst

to attract and retain more development and investment” in this community.

2Q2020

10 quality full-time jobs.

CRSM prioritizes hiring alumni

and employees from the LIC

community


CRSM utilizes the Corporate Work Study Program to give

students real-world employment experience at some of the

area’s most prominent employers such as Hollister, Rust-

Oleum and Walgreens Boots Alliance

Despite the challenges of COVID-19 on the Spring 2020

semester, CRSM students again surpassed the national

growth rates on standardized tests in Reading and Math

Capital One Deal Team: Bert Holland, RM; Kyle Fontanille, UW; Doug Fields, NMTC

Dallas Lite & BarricadeTexas


$9,000,000

Dallas Lite &

Barricade

Dallas, TX


in partnership with


Renewal Fund & Dallas

Development Fund

2Q2020

141 retained and 13 created

quality jobs of which 100% are

eligible to low-income persons

and/or residents of low income

communities


30% of the company’s hires are considered

Opportunity Youth, people ages 16-24 who were

previously not in school or working

Care will be taken to landscape the new facility, improving

the site’s appearance and bringing back pride-of-place to

the formerly blighted property

Capital One Deal Team: Mary Jo Hoch, RM; Kyle Fontanille, UW; John Chamberlain, NMTC

Architectural rendering of new headquartersERN Architects

• Remediation and rehabilitation of a 23,000+ SF warehouse building for equipment related to

traffic control. Project will also include the construction of a new Corporate Headquarters which

will include a 50-person training facility that is large enough to accommodate trucks for hands-on

learning opportunities.

• Dallas Lite & Barricade has been locally owned and operated since 1969, and whose services

include lane closures, special events, crowd control, sign management, the fabrication of crash

control trucks and more.

• Project is in a severely distressed census tract on land that was previously an EPA Superfund

site. Since Dallas Lite & Barricade’s initial purchase of the abandoned facility in 2015, they have

completely isolated the lead on-site and the environmental risk has been mitigated.

• City of Dallas Council Member Omar Narvaez offered his support for the project, noting how the

project has the potential to encourage other businesses to invest in the district.

De Paul Residential Treatment CenterOregon


$22,000,000

De Paul Residential

Treatment Center

Portland, OR


in partnership with


Renewal Fund & United Fund

Advisors, LLC

Schematic rendering of entry view

• 55,000 SF addiction treatment center on close to three (3) acres which will replace De Paul’s

current, outdated buildings with a facility developed based on “trauma informed design” and

modern best practices in healing addiction.

• De Paul Residential Treatment Centers are one of Oregon’s oldest and largest providers of

residential and outpatient chemical dependency treatments, working with more than 2000 people

each year. Founded in 1974, De Paul’s programs aim to focus on the individual needs of the client,

and they also offer expertise in mental health as many patients have co-occurring disorders.

• Project is based in a severely distressed area of Portland, Oregon. Portland, like many other urban

communities, is experiencing an opioid and substance abuse epidemic and the Center seeks to be

a solution for this growing problem.

• For the approximately 35% of patients who experience homelessness upon completion of their

residential stay, De Paul partners with local housing providers to secure after-care arrangements.

2Q2020

131 total jobs at the Center

with more than half of all roles

eligible to low income persons


An on-site lab and pharmacy, combined with proximity to

light rail and bus service, the Center seeks to eliminate

barriers to continued service and medication access

Community support has been strong, with De Paul

having raised close to $9 million in support of the new

Center


East Moline Community CenterIllinois


$11,925,000

East Moline

Community Center

Moline, IL


in partnership with

Consortium America,

Enhanced New Markets

Development Fund & Central

States Development Partners

• Construction of a 100,000 SF events and community center which will provide space for local

non-profits, tractor and machinery auctions, and adaptable space to host regional sporting and

local corporate events. It will be the largest contiguous capacity meeting facility in the region.

• Project is a part of a larger mixed-use development on the banks of the Mississippi River which

will include retail, an apartment complex, and an amphitheater in addition to the Community

Center.

• Project is located in a severely distressed census tract and is also creating jobs in an area where

the unemployment rate is greater than 1.5 times the National Rate.

• Mayor Reggie Freeman of East Moline, along with local organizations REDEEM (Revitalize and

Develop East Moline) and YouthHope have all voiced their support for the project.

1Q2020

70 new jobs that are accessible

to low-income persons80 Construction jobs

Project will support a cleaner, healthier environment

through the remediation a Brownfield site

Community Center will have a direct economic impact

through the infusion of tourism dollars into the area. It is

estimated that events at the Center will host almost 40,000

guests annually

Architectural rendering of Community CenterStreamline Architects, PLC

Capital One Deal Team: Mark Preston, RM; Kyle Fontanille, UW; Doug Fields, NMTC

Empire / Stribling, WinonaMississippi


$7,500,000

Empire / Stribling

Winona, MS


in partnership with


Renewal Fund, Brownfield

Revitalization, LLC & Three

Rivers Community

Development Entity

• Construction of a new, state-of-the-art heavy truck dealership which will offer sales and support

for new, used, rental and leased heavy-duty trucks and equipment. There will also be a well-

stocked parts department on-site.

• Empire Truck Sales, LLC is a franchised heavy truck dealership and Stribling Equipment, LLC is

a franchised construction and forestry equipment dealership for John Deere. The companies

have been in business since 1983 and have several locations throughout the Southeast.

• Project is located in Winona, Mississippi, a non-metropolitan community with a poverty rate of

36.4%.

• The Montgomery County Supervisors approved a Tax Increment Financing (TIF) Plan in support

of the facility, stating in its resolution that “the Project is in the best interest of the County as its

future development”. The City of Winona has also adopted a TIF Plan to provide infrastructure

improvements to assure adequate access to the facility.

2Q2020

Technician roles offer a 4-day work week option, Career

Path Planning, a Tool Loan program, Laptop program,

and access to in-house and web-based Training

Empire Stribling supports the Hinds Diesel Technology

Academy at Hinds Community College to provide an

educational lifeline to students who benefit from the

program’s hands-on training with industry experts


15-20 full-time jobs with half

being eligible to low income

persons or persons living in

low income communities


Jordan Valley Innovation CenterMissouri


$10,000,000

Jordan Valley

Innovation Center

Springfield, MO


in partnership with


Renewal Fund & Central Bank

of Kansas City CDE

3Q2020

JVIC provides education, training and networking

opportunities with partner organizations to ensure tenants

within the community have a pathway to business success

Economic and workforce impact will be seen in the future as

manufacturing and engineering workers of all levels will be

needed to stand-up new products that are developed at JVIC



• Construction of a three-story, 30,000 SF addition which will allow the Senator Roy Blunt Jordan

Valley Innovation Center (JVIC) to expand and accommodate more tenants while building upon

its reputation as a business accelerator and nucleus for collaborative tech research and R&D.

• The JVIC was named after U.S. Senator Roy Blunt (Mo.), and ardent supporter of the New

Markets Tax Credit program who has referred to NMTCs as a “critical tool in boosting economic

development in areas where it is needed most.”

• Project is located in a severely distressed census tract with a poverty rate of 36.9% and an

unemployment rate that is greater than 1.5x the national average.

• JVIC sits within the IDEA Commons area of downtown Springfield- a concept formed in

partnership with Missouri State University, the city and the Springfield Business Development

Corporation- to spur a renaissance in the downtown area while serving as a hub for regional

innovation.

45 full-time equivalent jobs

will be created, and 75 FTE

will be retained by the Project

McKinley Paper, PrewittNew Mexico


$11,000,000

McKinley Paper

Prewitt, NM


in partnership with


Renewal Fund & Finance

New Mexico

Prewitt facility

• Acquisition of steam generation equipment to expand the McKinley Paper, Prewitt facility’s

manufacturing capacity by 25%.

• McKinley Paper Company is owned by Mexican papermaker Bio-Pappel, the operator of thirty-

one (31) industrial plants and fourteen (14) paper collection centers throughout Mexico, the

United States and Columbia. The minority owned and operated company proudly invests in the

communities in which it works through its support of social welfare organizations that serve low-

income persons

• Project is in a non-metropolitan, severely distressed census tract with a poverty rate of 46.2%

and an unemployment rate of 33.7%.

• Upon completion of the Project, the mill will be better equipped to meet market demand, turning

waste shipments into cardboard liner and containerboard that is used in the manufacturing of

corrugated boxes.

2Q2020


80% of all full-time jobs will be filled by residents of the

local low-income community. All will receive company-

paid medical, dental and retirement benefits

In an area where only thirteen (13) businesses employ

more than 100 people, the Project’s ability to retain its

workforce and add more quality jobs will be significant to

the County


15 full-time jobs and

120 retained jobs

Mustard Seed HillKentucky


$7,000,000

Mustard Seed Hill

Millersburg, KY


in partnership with CV

Appalachian, Enhanced

Community Capital & Petros

Partners CDEs

The Allen House, a National Historic Landmark built it 1852

• Continued restoration and renovation of the Mustard Seed Hill campus, creating a home for a

business incubator, commercial kitchen, corporate meeting spaces, an event hall and lodging.

• Mustard Seed Hill is a historic, special event and meeting venue situated on fourteen (14) acres

in the heart of Kentucky’s Bluegrass Region, which aims to attract 110,000 unique visitors to the

area by 2021.

• Project is located in a small, severely distressed community that is home to less than 850

residents and has an unemployment rate of 16.2%.

• Lauren Biddle, Executive Director of the Paris-Bourbon County Chamber of Commerce, and City

of Millersburg Mayor Lee Hopkins have voiced their support for the project, with Mayor Hopkins

noting that he supports and appreciates “the positive exposure and increased visitor headcount”

that the Project is bringing to the town.

2Q2020

3 new full-time jobs and

9 retained jobs35 Construction jobs

Formerly the home of the Millersburg Military Institute, a

boarding school that had fallen into a state of disrepair,

the historic preservation and return to commerce of the

Project site brings energy and job creation back to

Millersburg


Campus will also include an entrepreneurship center with

programming tailored to provide training and technical

assistance to new and expanding hospitality businesses

NufarmMississippi


$16,000,000

Nufarm

Greenville, MS


in partnership with

MuniStrategies & Three

Rivers Community

Development Entity

Rendering of the new Greenville facility

• Renovation of an 104,000 SF abandoned facility into a production plant for 157 high volume

foundational herbicides and cotton defoliants, along with a central distribution center to serve the

southeastern states.

• Nufarm is one of the world’s leading crop protection and specialist seeds companies. They

operate two (2) major plants in northern Illinois that are currently at capacity

• Project is located in a non-metropolitan, highly distressed census tract which is a former

brownfield site. Area has a poverty rate of 32.30% and an unemployment rate that is 3.9 times

the national rate.

• Nufarm has received a warm welcome from Mississippi and the Greenville community, receiving

a letter of support from Governor Phil Bryant, thanking Nufarm for their decision to invest in the

state of Mississippi, and Mayor Errick D. Simmons of Greenville stated the expansion has created

“an atmosphere for investment” in his city.

1Q2020

60 full-time jobs with an

average hourly pay that is 46%

above the county’s living wage


Full-time employees receive a comprehensive benefits

package including 401k with a 7% match including bonus,

educational assistance, tuition reimbursement and more

Nufarm will partner with Mississippi Delta Community

College to create an 80-hour workforce development

training program for new hires and the residents of the

area at-large

Capital One Deal Team: Bert Holland, RM; Kyle Fontanille, UW; John Chamberlain, NMTC

Oakland Museum of CaliforniaCalifornia


$14,000,000

Oakland Museum of

California

Oakland, CA


in partnership with


Renewal Fund & Oakland

Renaissance NMTC, Inc.

2Q2020

more than 90Construction jobs

Project will make the Museum’s Café accessible

through a welcoming exterior entrance to better serve

the community’s neighborhood foot traffic


Rendering of the new street view

• Enhancements to the museum campus enabling improved community access, measures to

ensure the safety and security of patrons, interactive landscaping, and expanded on-site

programming.

• For more than 50 years, Oakland Museum of California has celebrated the many facets of the

state through the presentation of California’s art, history and natural sciences. The Museum is

deeply connected to the community, providing educational and outreach programs like Friday

Nights @ OMCA to engage families and celebrate local holidays and culture.

• Project is located in the Central/Lake Merritt area of Oakland which is Severely Distressed and

has a median family income which is 35.05% of the metropolitan AMI.

• Oakland Mayor Libby Schaaf lent her support to the Project, calling out how the Museum will

“create new opportunities for exploration and learning for all.”

5 new jobs and

180 retained jobs, including

contract workers

Project is well-positioned within the City of Oakland’s

efforts to promote the adaptive reuse and activation of

existing cultural, institutional and governmental uses on

the 14th Street Corridor

Ralph J. Roberts Boys & Girls ClubPennsylvania


$10,000,000

Ralph J. Roberts

Boys & Girls Club

Philadelphia, PA


in partnership with


Renewal Fund & PIDC

Community Capital

Exterior façade will be kept

1Q2020

17 new jobs & 37 retained,

plus 25 summer and/or after-

school jobs for area youth

75 Construction jobs,

with an average wage of

$80/hour

After two (2) years of service, contributions ranging from 3%-

10% are made by BGCP on behalf of full-time permanent

employees participating in a defined-contribution benefit plan

who are personally deferring a minimum of 3%

By creating a facility that is capable of meeting modern

programming needs, BGCP anticipates that they will increase

the number of students served from 600 to 3000 annually

• Complete interior rebuild of the current 120-year old historic structure resulting in a 64,000+ SF

state-of-the-art and more energy-efficient youth service facility.

• Boys & Girls Club of Philadelphia (BGCP) operates sixteen (16) facilities in Philadelphia and its

surrounding communities. This project is a part of the organization’s multi-year Bold Change for

Kids initiative, and the new spaces will be equipped for modern programming in areas such as

Arts & Culture, Character & Leadership, and Health & Life Skills.

• The project will address food security through the construction of a larger Community Garden and

Kids Café. The Kids Café will serve nearly 2000 youth each day, producing “farm to table” meals

that are home cooked and healthy.

• BGCP partners with the Mayor’s Office of Education, School District of Philadelphia and the

Philadelphia Housing Authority to strengthen and grow youth programming while continuing to

solicit school partners near the Club to expand their service opportunities.


Red Bird MallTexas


$13,000,000

Red Bird Mall

Dallas, TX


in partnership with


Renewal Fund & Dallas

Development Fund

Artist rendering of “The Lawn” at Red Bird Mall

1Q2020

643 full-time jobs between

entities, and almost 400 part

time/seasonal roles will be

available


Foot Locker provides tuition reimbursements of 50%

of costs for college degrees or courses that will

benefit present/future roles with the company

The Lawn will offer daily programming such as yoga

and lectures. There will be a performance stage to

support cultural offerings, while the children’s park and

open, great lawn will provide free-play and recreation

opportunities

• Red Bird Mall project to encompass the renovation of a 51,000 SF retail space into a Chime

Solutions, LLC call center, in addition to the development of a Foot Locker “power store” and the

construction of a 1.1-acre multi-use, outdoor gathering space known as “The Lawn”.

• Red Bird was once a thriving retail property but has been underutilized and has not served the

changing needs of the community for more than ten (10) years.

• The Chime call/business operations center is modeled on a similar location in an Atlanta-area

mall, and will be a significant job generator, with 90% of roles being eligible to low-income

persons.

• The City of Dallas unanimously approved providing support to finance infrastructure

improvements and workforce development training through the Workforce Development

Commission at Red Bird Mall. Showing further support, the Dallas Development Fund CDE

serves as a project partner and they act on behalf of the City of Dallas in the performance of its

governmental functions such as carrying out the economic development objectives of the City.

Capital One Deal Team: Mary Jo Hoch, RM; Kyle Fontanille, UW; Doug Fields, NMTC

Richmond Times Dispatch BuildingVirginia


$5,000,000

Richmond Times

Dispatch Building

Richmond, VA


in partnership with


Renewal Fund & Virginia

Community Dev. Fund

2Q2020

245 jobs on-site through

employees of Shamin Hotels,

RTD and other tenants

70 Construction

jobs

Shamin Hotels has a strong hiring history with the Richmond

Redevelopment & Housing Authority (RRHA) hiring low income

residents into roles as room and front desk attendants, food

and beverage roles, and more

Capital One Deal Team: Ian Joseph, RM; Kyle Fontanille, UW; John Chamberlain, NMTC

Exterior of RTD Building by Eva Russo

• Renovation of the 166,276 SF, four-story Richmond Times Dispatch (RTD) building, consisting of

a reconfigured and updated home for RTD personnel, a corporate headquarters for Shamin

Hotels and additional office spaces for new tenants.

• Project Sponsor Shamin Hotels, led by former RTD Person of the Year Neil Amin, is the largest

hotel owner and operator in Virginia with 60 hotels, 8000+ rooms and 3000+ associates.

• Project is located in the Grace Street Commercial Historic District of Richmond, which is in a

severely distressed census tract with a poverty rate of 34.6%.

• Keeping the Richmond Times in downtown Richmond was a priority for the newspaper and the

broader business community. “We have found the right partner to allow us to stay true to our

downtown roots while upgrading our offices into a first-class operation,” said Thomas Silvestri,

retired RTD President and Publisher.

Despite their industry being hard hit by the COVID-19

pandemic, Shamin Hotels continues to support the

community by providing free hotel space in many company

properties to first responders who are concerned about

returning home due to exposure

River Valley Co-opMassachusetts


$16,000,000

River Valley Co-op

Easthampton, MA


in partnership with

Capital One Community Renewal

Fund, Massachusetts Housing

Investment Corp., National

Community Investment Fund &

Vermont Rural Ventures

1Q2020

72 full-time jobs in the first

year with anticipated growth to

more than 100

In contrast to food industry trends, the Co-op employs

predominantly full-time workers and seeks to turn these roles

toward career paths through training and promotion opportunities

The “Food for All” program gives all SNAP, WIC or SSI-eligible

persons a 10% discount on groceries. River Valley Co-op also has

an Ownership Assistance Program to assist low-income persons

with the investment required to become a Co-op “owner”

9 part-time jobs


• Construction of a 29,000 SF grocery cooperative which will feature a variety of locally sourced

groceries, bulk products like beans and grains, in-house baked goods, and prepared food

department.

• The Easthampton location is River Valley Co-op’s second in the area. The first location, open

since 2008, has seen its revenue triple and has contributed more than $810,000 to local

community programs and through in-kind donations. The new Easthampton location seeks to

build upon this success and will similarly partner with local farmers, nonprofits and businesses.

• Project is located in a severely distressed census tract and is also serving the critical need for

wholesome food options within a USDA Food Desert.

• City of Easthampton Mayor, Nicole LaChapelle, has stated that she believes that the new River

Valley Co-op location is a “natural fit for Easthampton” and she thinks the city is ready and eager

to support its growth. Catholic Charities is also ready to serve as an employee recruitment

partner through the Welcoming Refugees Resettlement Project.


Rockwood Food Market HallOregon


$9,000,000

Rockwood Food

Market Hall

Grisham, OR


in partnership with

Capital One Community Renewal

Fund & Craft3 CDE

3Q2020

102 indirect FTE jobs

Micro Enterprise Services of Oregon (MESO) will be located

onsite to help small businesses through every stage of

development, from asset building, to credit preparedness to

business launch

In addition to healthy food offerings to approximately 60,000

people annually, residents of the surrounding communities will

also be able to access grocery staples that reflect their

multicultural traditions

• Construction of a 38,740 SF Food Market Hall dedicated to local food and entrepreneurial food

vendors. A part of a larger Rockwood Town Center development, the project will include an

incubator with vendor spaces for food businesses of varying sizes, commercial and commissary

kitchens and commercial office spaces.

• In consultation with local community members since 2014, the Gresham Redevelopment

Commission designed the multi-phase revitalization project to empower residents to build

prosperity for themselves and their families.

• Project is located in one of the most impoverished neighborhoods in the area. The community

has a poverty rate of 42.4% and has seen six (6) national grocery chains exit the area in the past

20 years, leaving nearly 20,000 residents without a commercial center to shop for groceries.

• U.S. Senator Jeff Merkley of Oregon expressed his appreciation for the project and its ability to

bring “education, workforce development, and entrepreneurship programs together in one

location” and offering a “pathway for community members to find jobs, start businesses, and

increase family income.”


Artist rendering of the exterior of the Food Market Hall

at least 50% of businesses

in the market space will be first

time business owners

Tippah County HospitalMississippi


$25,500,000

Tippah County

Hospital

Ripley, MS


in partnership with


Renewal Fund, MuniStrategies,

HOPE Enterprise Corp. & Three

Rivers CDE

• Construction of a new 56,000 SF hospital facility consisting of a 25-bed hospital for acute and

swing bed services in addition to increased community access to quality healthcare through

expanded offerings like in-hospital cardiopulmonary rehab, outpatient GI surgery and infusion

therapy. The facility will feature newer, state-of-the-art equipment to better aid hospitalists and

nurses in serving their patients.

• Tippah County Hospital will provide access to a rural health clinic within the facility and a

pharmacy with a 340-B program which will help the hospital better serve vulnerable communities

by managing prescription costs.

• Project is in a small community in North Mississippi, an hour south of Memphis, Tennessee. It is

a Medically Underserved area with a poverty rate greater than 25%.

• The Tippah County Board of Supervisors and the County Hospital Board of Trustees have each

unanimously supported the Project. Mayor Chris Marsalis of the City of Ripley pledged his

support and City resources.

1Q2020

20 new, full-time equivalent roles

with with average hourly pay that is

90.8% greater than the county’s

living wage. 140 retained jobs

Free training programs are offered to employees and

contractors to help participants in current and future roles,

and the skills are transferrable to roles in other healthcare

institutions

More than 30% of area residents are smokers and therefore

at a higher risk for respiratory diseases. The new

Cardiopulmonary Rehab program will offer comprehensive

intervention services with patient-targeted therapies



Wayne Farms, Laurel Fresh Production FacilityMississippi


$9,000,000

Wayne FarmsLaurel Fresh Production Facility

Laurel, MS


in partnership with


Renewal Fund &

MuniStrategies, LLC

2Q2020

200 full-time jobs with 94% open to

applicants with only a high school

diploma

Wayne Farms prioritizes volunteerism and fundraising, supporting

nonprofits in Jones County such as the Salvation Army’s Angel Tree,

Relay for Life, Local Emergency Management and more

Wayne Farms chickens are raised by independent family farmers.

Project will spend more than $18 million each year supporting these

local growers

100% of new hires will receive

a comprehensive benefits

package including a 401(k) with

a 3% match

Capital One Deal Team: Mark Preston, RM; Kyle Fontanille, UW; Doug Fields, NMTC

• Chicken processing facility upgrade including an automated breast de-boner and an expansion of

retail bagging capabilities at a 99,000 SF Central Mississippi plant. Project will support the

growing demand for the company’s Ladybird line of poultry products, a line of humanely raised

all-female birds.

• Wayne Farms LLC is the 7th largest poultry producer in the United States and the Laurel Fresh

Production Facility is one of the company’s eleven (11) fresh- and further-processed facilities in

the Southeast.

• Project is located in a non-metropolitan, severely distressed census tract with a poverty rate of

33.6%.

• The Project is being lauded by City of Laurel Mayor Johnny Magee and the Economic

Development Authority of Jones County for its ability to “impact the sustainability of the

community’s economy”.

2020 NMTC Deal Closings by State

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2

2

2

1

1

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In the Community

Hurricane Laura Relief

3Q2020

Members of the NMTC team volunteered in

the Community Kitchen at Second Harvest

Food Bank to help pack meals for people

who were affected by Hurricane Laura.

COCRF Gives Back

COCRF made a $750,000 investment in

programs that advance Capital One’s

commitments to small businesses affected

by the COVID-19 pandemic and supporting

racial equity and justice in our communities.

The Reinvestment Fund’s pilot program to

develop a framework that will help schools

in low-income communities create and

adopt institutional commitments related to

racial equity.

National Community Investment Fund’s

NCIF Cares Initiative supports small

businesses in low-income communities who

have been adversely affected by COVID-19.

new markets tax credit · 10/6/2020 · • dallas lite & barricade has been locally owned and...

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