Year In Review
Making an Impact: CAHEC at Work / July 1, 2018 – June 30, 2019

CAHEC New Markets

CAHEC New Markets’ $120 million of closed NMTC investments have and are projected to help create:

Construction Jobs

Permanent Jobs

Square Feet of Development Financed

Pre-k – 12th grade student seats

Patients with improved access to health care annually

People with access to quality health, wellness, and recreation facilities

CAHEC New Markets’ $120 million of closed NMTC investments have and are projected to help create:

Construction Jobs

Permanent Jobs

Square Feet of Development Financed

Pre-k – 12th grade student seats

Patients with improved access to health care annually

People with access to quality health, wellness, and recreation facilities

CAHEC created CAHEC New Markets to utilize New Markets Tax Credit (NMTC) allocations to help finance community facility projects creating and improving access to jobs, educational opportunities, healthcare, and community goods and services in high distress, low-income communities throughout the Southeast and mid-Atlantic regions. We have been awarded $170 million of NMTC allocation from the U.S. Department of the Treasury’s CDFI Fund.

CAHEC New Markets Awarded $50 Million Allocation in
New Markets Tax Credit Program

Republic  Bank Foundation  YMCA

Louisville, KY

Title

Rocky  Mount  Event Center

Rocky Mount, NC

Charles  R.  Drew  Junior and  Senior  Academy

Atlanta, GA

We are pleased to announce that the U.S. Department of the Treasury’s CDFI Fund awarded CAHEC New Markets $50 million of New Markets Tax Credit (NMTC) allocation authority under the CY 2018 allocation round. In total, 214 CDEs applied for allocations, requesting approximately $14.8 billion in allocation. Ultimately, <br>73 CDEs (or 34 percent of the total applicant pool) were awarded $3.5 billion of allocation.

The NMTC allocation will be used to provide senior and subordinated debt financing to community facilities throughout the Southeast and mid-Atlantic regions, creating and improving access to jobs, educational opportunities, healthy foods, and community goods and services in high distress, low-income communities.

We look forward to sharing more as we begin closing projects with our new allocation. To learn more about CAHEC New Markets, please contact Brian Oxford
at 919-532-1796 or boxford@cahec.com.

STATES  WE  SERVE

CAHEC New Markets’ Service Area

NMTC Service Area

CAHEC New Markets is certified as a multi-state Community Development Entity (CDE). Our service area includes a 9-state footprint (FL, GA, KY, MD, NC, SC, TN, VA, and WV) plus the District of Columbia.

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 Community Development Entities (CDE) 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.