Making an Impact: CAHEC at Work
July 1, 2016 – June 30, 2017

CAHEC New Markets

CAHEC New Markets

CAHEC New Markets’ investments have helped create:

Construction Jobs

Permanent Jobs

Student Seats

Seats at a rural medical school

Patients Annually

Square Feet of Development Financed

CAHEC New Markets investments have helped create:

Construction Jobs

Student Seats

Patients Annually

Permanent Jobs

Seats at a rural medical school

Square Feet of Development Financed

CAHEC created CAHEC New Markets to focus on utilizing New Markets Tax Credit allocations to help finance a range of real estate and community facility projects throughout the Southeast. We have been awarded a total of $120 million of allocation, including $45 million from the combined 2015-2016 round, from the U.S. Department of the Treasury’s CDFI Fund.

CAHEC New Markets has helped finance:

 

  • The adaptive reuse of underutilized and vacant historic buildings into adult day care centers with medical facilities and affordable housing
  • A new construction, 85,000 square foot, medical school and free community clinic
  • The construction of a charter school for middle and high school students
  • A new construction pediatric outpatient medical facility
  • A warehouse and food distribution center that created over 150 new full-time jobs in a distressed rural community
  • The adaptive reuse of a commercial building into a 125-room hotel and contemporary art museum
  • A 1.5 million square foot new construction distribution center as well as a retail outlet store that created 370 new full-time jobs in a distressed rural community

Enacted in 2000, the New Markets Tax Credits program is designed to stimulate economic and community development and job creation in low-income communities by attracting investment capital from the private sector. Taxpayers invest equity capital in qualified CDEs in exchange for a credit against their federal income taxes. In turn, CDEs are required to invest the proceeds in low-income communities, areas that traditionally have not attracted the attention of private capital.

To learn more about CAHEC’s New Markets’ initiatives, please contact Brian Oxford at (919) 532-1796 or boxford@cahec.com.

CAHEC created CAHEC New Markets to focus on utilizing New Markets Tax Credit allocations to help finance a range of real estate and community facility projects throughout the Southeast. We have been awarded a total of $120 million in allocation, including $45 million from the combined 2015-2016 round, from the U.S. Department of the Treasury’s CDFI Fund.

CAHEC New Markets has helped finance:

 

  • The adaptive reuse of underutilized and vacant historic buildings into adult day care centers with medical facilities and affordable housing
  • A new construction, 85,000 square foot, medical school and free community clinic
  • The construction of a charter school for middle and high school students
  • A new construction pediatric outpatient medical facility
  • A warehouse and food distribution center that created over 150 new full-time jobs in a distressed rural community
  • The adaptive reuse of a commercial building into a 125-room hotel and contemporary art museum
  • A 1.5 million square foot new construction distribution center as well as a retail outlet store that created 370 new full-time jobs in a distressed rural community

Enacted in 2000, the New Markets Tax Credits program is designed to stimulate economic and community development and job creation in low-income communities by attracting investment capital from the private sector. Taxpayers invest equity capital in qualified CDEs in exchange for a credit against their federal income taxes. In turn, CDEs are required to invest the proceeds in low-income communities, areas that traditionally have not attracted the attention of private capital.

To learn more about CAHEC’s New Markets’ initiatives, please contact Brian Oxford at (919) 532-1796 or boxford@cahec.com.