PeopleFund New Markets Tax Credits
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PeopleFund NMTC investment =$6.1 million and 16,397 square footage developed/rehabilitated/renovated 105 construcon jobs and 10 non-construcon jobs(new staff) Accion has partnered with community colleges and plan to teach upwards of 30 students a year job skills to help them gain the necessary skills to successfully obtain a career aſter college PeopleFund NMTC investment = $3.9 million 53,500 square footage developed/rehabilitated/renovated Increase its reach 4,500 home bound seniors served on daily basis, to 10,000 seniors. As a result of the project an addional 5,500 seniors will be fed daily This project increases annual meal service 1.7 million meals Add support for the 500 to 600 refugees seled each year PeopleFund NMTC investment = $5.0 million 67,000 square footage developed/rehabilitated/renovated and 150 construcon jobs and 100 non-construcon jobs 16 vicm advocacy groups have agreed to relocate new full me staff to OSP building in order to bring all support groups under one roof This project will be the area's only all-inclusive domesc/- family support center One Safe Place New Markets Tax Credits Big projects. MASSIVE IMPACT. New Markets Tax Credits (NMTC) A U.S Treasury tax credit program designed to smulate commercial investment in Low-Income Communies (LIC). NMTC eligibility is determined by census tract – median income, poverty rate, and unemployment. NMTC allocaons are awarded to Community Development Enes (CDE) through a highly compeve process. PeopleFund is a CDE with delegated authority to sell tax credits to third party investors (typically Banks) for Texas NMTC eligible businesses and real estate developments with tangible community impact. PeopleFund NMTC Project Priorities •Highly distressed Texas census tracts and Non-profit high impact community facility with compelling community impact/job creaon •$4 million minimum NMTC component of a project and shovel ready and can close within a 90 day period Meals on wheels Accion texas How does NMTC work? NMTC allocations are awarded to Community Development Entities (CDE) through a highly competitive process. PeopleFund is a CDE with delegated authority to sell tax credits to third party investors (typically Banks) for Texas NMTC eligible businesses and real estate developments with tangible community impact. Visit our offices in Ausn, Dallas, Ft. Worth, Houston, & the Rio Grande Valley. 1.888.222.0017 | www.peoplefund.org | @PeopleFund | [email protected] | peoplefund.org
Transcript of PeopleFund New Markets Tax Credits
PeopleFund NMTC investment =$6.1 million and 16,397 square footage developed/rehabilitated/renovated
105 construction jobs and 10 non-construction jobs(new staff)
Accion has partnered with community colleges and plan to teach upwards of 30 students a year job skills to help them gain the necessary skills to successfully obtain a career after college
PeopleFund NMTC investment = $3.9 million
53,500 square footage developed/rehabilitated/renovated
Increase its reach 4,500 home bound seniors served on daily basis, to 10,000 seniors. As a result of the project an additional 5,500 seniors will be fed daily
This project increases annual meal service 1.7 million meals
Add support for the 500 to 600 refugees settled each year
PeopleFund NMTC investment = $5.0 million
67,000 square footage developed/rehabilitated/renovated and 150 construction jobs and 100 non-construction jobs
16 victim advocacy groups have agreed to relocate new full time staff to OSP building in order to bring all support groups under one roof
This project will be the area's only all-inclusive domestic/-family support center
One Safe Place
New Markets Tax Credits Big projects. MASSIVE IMPACT.
New Markets Tax Credits (NMTC)A U.S Treasury tax credit program designed to stimulate commercial investment in Low-Income Communities (LIC). NMTC eligibility is determined by census tract – median income, poverty rate, and unemployment. NMTC allocations are awarded to Community Development Entities (CDE) through a highly competitive process. PeopleFund is a CDE with delegated authority to sell tax credits to third party investors (typically Banks) for Texas NMTC eligible businesses and real estate developments with tangible community impact.
PeopleFund NMTC Project Priorities•Highly distressed Texas census tracts and Non-profit high impact community facility with compelling community impact/job creation•$4 million minimum NMTC component of a project and shovel ready and can close within a 90 day period
Meals on wheels
Accion texas
How does NMTC work?
NMTC allocations are awarded to Community
DevelopmentEntities (CDE) through a highly competitive
process. PeopleFund is a CDE with delegated authority to sell tax credits to third party investors (typically Banks) for Texas
NMTC eligible businesses and real estate
developments with tangible community
impact.
Visit our offices in Austin, Dallas, Ft. Worth, Houston, & the Rio Grande Valley.1.888.222.0017 | www.peoplefund.org | @PeopleFund | [email protected] | peoplefund.org
