Civic Community Partners (formerly Civic San Diego Economic Growth & Neighborhood Investment Fund) New Markets Tax Credit Program provides below market financing with flexible terms to support high impact community projects located in underserved neighborhoods.
Targeted Investment Requirements
- For-profit or non-profit entities are eligible
- Total project cost in the $8 – $20 million range (New Markets Tax Credit equity typical provides about 20% of the project cost)
- Funding is for real estate development or to support ongoing operations
- The balance of project financing has been identified
- Site control and entitlements are already in place
- Project needs to provide a strong community benefit, including job creation
- Project has local community support
Projects located in highly distressed areas that generally have at least one or more of the following characteristics:
- Poverty rates greater than 30%
- Unemployment rates at least 1.5 times the national average
- Median income less than 60% of area median income
- Other distress factors such as designated food deserts or medically underserved areas
For more information about the NMTC Program or to see if your project might qualify, please contact Michael Lengyel, Vice President, Lending and Investments at email@example.com or (619) 533-7158.