New Markets Tax Credit
Housing is one major ingredient for creating healthy communities, but by itself, the impact of housing can be limited. Vibrant commercial enterprises are also critical for providing employment and giving residents access to needed goods and services.
New Markets Tax Credit
Cinnaire leverages the federal New Markets Tax Credit (NMTC) program to focus investment in transformative projects in the most distressed communities in which we work. We look for opportunities to stimulate communities economically and provide the most vulnerable residents with critical services such as health care and child care.
The New Markets Tax Credit (NMTC) Program promotes economic advancement in distressed communities by encouraging private investment in community development projects. Since beginning our involvement with the program in 2009, Cinnaire has invested well over a quarter billion dollars in NMTC projects. We use each allocation of NTMCs to support large-scale financing for a range of community facilities that support our belief that all people deserve the opportunities provided by living in healthy communities.
Cinnaire has received 6 NMTC Awards, totaling $304 Million
We have closed 28 NMTC Projects, creating $1 Billion in total development costs
As a regional CDE, our service area covers 8 States in the Midwest and Mid-Atlantic
We manage over $250 Million of NMTC allocation on behalf of third-party CDE’s
Marshfield Area YMCA
Cinnaire provided a $7.2 million New Markets Tax Credit (NMTC) allocation to support the expansion and rehabilitation of the Marshfield Area YMCA. The expanded facility will allow the Marshfield YMCA and the Marshfield Clinic Health System to form a partnership to provide coordinated community services. The Marshfield Clinic Health System YMCA will provide access to education, childcare, social services, job/vocational training, and healthy foods.
