Cinnaire (Cinnaire) and subsidiary, CapFund New Markets, LLC are proud to announce their New Markets Tax Credit award of $35 million from the US Department of Treasury and the CDFI Fund.
To date, CapFund New Markets, LLC has invested over $74 million in developments that revitalize neighborhoods and are directly responsive to the needs of low-income communities in the Midwest’s most underserved areas. This year’s allocation of $35 million will further uplift communities in the Cinnaire footprint – including both urban and rural areas across the Midwest.
CapFund New Markets, LLC is a designated Community Development Entity serving Michigan, Wisconsin, Indiana and Illinois.
Past projects Cinnaire and CapFund New Markets have supported include the Verso Paper Mill in Quinnisec, Michigan, the Ivy Tech Culinary Center in Indianapolis, Cermak Fresh Food Market in Milwaukee, and the Kroc Community Center in Chicago.
“Thanks to this year’s New Markets Tax Credit allocation, we will be able to invest in high-impact projects that create jobs and leverage further community development,” said Mark McDaniel, CEO of Cinnaire. “With these dollars we will ensure the hardest hit areas across the Midwest see the same opportunity and investment other communities relish.”