National Trust Community Investment Corporation

Understanding NMTC Eligibility: How NTCIC Determines a Project’s Need for New Markets Tax Credits At NTCIC, we use the New Markets Tax Credit (NMTC) program to provide flexible and accessible capital for projects that are unable to secure traditional financing. To qualify for NMTCs, projects must demonstrate that they wouldn't be feasible without this financing. Ways to demonstrate the need for NMTCs include: -Attempts to secure traditional investments -Existing financing gaps -Ongoing and extended fundraising needs -Limited debt service capabilities By addressing these criteria, we ensure that NMTC financing is made available to high-impact projects that would otherwise have insufficient capital to complete construction. Learn more about our tax credit syndication services: https://lnkd.in/dibgWcUn #NMTC

Project Spotlight: CARITAS Center With strategic financing from NTCIC, the once-vacant Philip Morris Blended Leaf Complex in downtown Richmond, Virginia, transforms into the new headquarters for Congregations Around Richmond To Assure Shelter (CARITAS). This historic site, originally constructed in the late 1950s and listed on the National Register of Historic Places in 2017, now serves as a crucial hub for support and recovery for individuals experiencing homelessness and battling addiction or substance use disorders By consolidating CARITAS’s programs under one roof, the organization saves hundreds of thousands annually—funds that support new and existing services. This project also brings 57 permanent full-time jobs, with 14 directly created by this expansion. Around 70% of these positions will be accessible to Low-Income Persons (LIPs) or residents of Low-Income Communities (LICs). Explore the details of this impactful project and its community benefits: https://lnkd.in/evrCKVKr

Understanding NMTC Eligibility Unlike Historic Tax Credits (HTC), NMTC eligibility is based on location, need, and use. For a project to qualify as a Qualified Active Low-Income Community Business (QALICB), it must be located in and serve a low-income community (LIC) and face investment challenges. Learn how your project can benefit from NMTCs and support under-resourced communities. https://lnkd.in/dibgWcUn #nmtc

Determining NMTC Eligibility: What Locations Qualify for New Markets Tax Credits? To be eligible for New Markets Tax Credits (NMTCs), a project must be located in a qualified census tract that meets the definition of a Low-Income Community (LIC). NTCIC prioritizes eligible projects located in what are called "severely distressed census tracts." These communities have some of the highest poverty rates and some of the lowest area median incomes in the country. Our goal is to bring capital to high-impact projects that will aid in uplifting these historically underresourced communities. Find out if your project is in an NMTC-eligible census tract: https://lnkd.in/dAtCrrgb Learn more about how NTCIC supports projects in eligible locations: https://lnkd.in/dibgWcUn #nmtc

Few things will last forever, but Cincinnati's Mercantile Library is on track to come pretty close. In 1845, the Young Men’s Mercantile Library Association signed a 10,000 year lease with Cincinnati College that guarantees the library will remain on that same plot of land until the year 11845. The price of this lease? $10,000 or $1 per year. Today the Historic Mercantile Building—named after the library it houses on its upper-most floors—is debuting anew and strengthening its commitment to the library. Following a multi-year restoration and renovation project led by the Model Group, this former office building now offers much-needed housing in the city’s downtown neighborhood. The library was given more space in the building to grow its programming and collection and new tenants will receive automatic membership to the library. In partnership with the National Trust Community Investment Corporation, a subsidiary of the National Trust, the project was made possible by Federal Historic Tax Credits and numerous credits from the state of Ohio. Dive into the fascinating historic the library, the building, and the partnership that made this project possible: https://ow.ly/HO7J50SiRUh Photo courtesy The Model Group/Julianna Boehm Photography.

That's a wrap on this year's IPED Historic Tax Credit conference! Thanks again for inviting NTCIC Project Manager Tony Maruca and National Trust for Historic Preservation's Renee Kuhlman to lend their expertise on all things state Historic Tax Credits! Garrett Dickerson, NTCIC's Open Access fellow, was lending his voice to advocacy efforts with Michael Phillips, Forrest Milder, and Kelly Humrichouser, and got a chance to speak with Representative Blumenauer, in incredible #HistoricTaxCredit champion.

Project Spotlight: CARITAS Center Thanks to strategic financing from NTCIC, the once-vacant Philip Morris Blended Leaf Complex in downtown Richmond, Virginia, has been transformed into the vibrant new headquarters for Congregations Around Richmond To Assure Shelter (CARITAS). This site now serves as a crucial hub for support and recovery for individuals experiencing homelessness and battling addiction or substance use disorders. The consolidation of CARITAS’s programs at this location will save over $350,000 annually, funds which it can use to further develop new and existing services. CARITAS anticipates 57 permanent full-time positions, 14 of which are directly attributed to this project's expansion. About 70% of these new opportunities will be accessible to Low-Income Persons (LIPs) or residents of Low-Income Communities (LICs). Explore the journey of this remarkable transformation and its profound impact on the community: https://lnkd.in/evrCKVKr

NTCIC is proud to highlight two of our projects, Nine Orchard and Downtown LA Proper, which have been recognized among the “Most Stylish Hotels on the Planet” by GQ. Nine Orchard is a gem in the heart of New York, known for its unique atmosphere shaped by music from top DJs. Downtown LA Proper offers a slice of design heaven with its vibrant decor and stunning downtown views, making every visit memorable. These projects demonstrate how strategic investments can breathe new life into historic properties and communities. Supported by NTCIC's financing through federal and state historic tax credits, these projects showcase our commitment to revitalizing historical sites and enhancing communities. Explore GQ's list here: https://lnkd.in/gdxajjtw Learn more about our Nine Orchard project in New York: https://lnkd.in/eir3YV2Y

The Historic Tax Credit Coalition Lobby Day is in full swing! NTCIC's Carolyn Tom and Tony Maruca, along with Melissa McCormack of JPMorgan Chase are pounding the pavement and heading to meet with Sen. Schumer to discuss the importance of the Historic Tax Credit Growth & Opportunity Act #HTCGO!

We are just a couple of days away from this year's Historic Tax Credit Lobby Day, hosted by the Historic Tax Credit Coalition! Join us in DC for a day of advocacy, followed by the first annual Congressional Reception on Capitol Hill, sponsored by National Trust Community Investment Corporation, Ryan, and CohnReznick LLP. To learn more about Lobby Day and how you can join in advocacy efforts, connect with Michael Phillips, NTCIC Director of Public Policy, or visit: https://lnkd.in/etf749az