New Markets Tax Credits

Plaquemines YMCA

January 11, 2010 by

Wellness and recreation facilities are today widely recognized as essential to a community’s health and well-being. In the southernmost reaches of Plaquemines Parish, the YMCA’s new facility will afford area residents badly needed wellness services.

Crescent Growth Capital structured a $6 million New Markets Tax Credit qualified equity investment transaction to make the new facility possible.

Ursuline Academy – Early Childhood Learning Center

January 11, 2010 by

Funded by a $5.7 million New Markets Tax Credit qualified equity investment structured by Crescent Growth Capital, the Ursuline Academy Early Childhood Learning Center is the first component to be realized of Ursuline Academy’s ambitious post-Hurricane Katrina recovery plan, simultaneously striking a blow on behalf of the oldest operating Catholic School in the United States (established in 1727), providing needed early childhood education capacity to New Orleans and disseminating best practices to partnering public facilities. Located within a highly distressed census tract struggling with a 25% poverty rate, the Early Childhood Learning Center would not have happened without the New Markets Tax Credit subsidy.

Our Lady of the Lake University

December 28, 2009 by

In 2008, the circa 1895 Main Building of Our Lady of the Lake University in San Antonio, TX was heavily damaged in a four-alarm fire. A $27.5 million New Markets Tax Credit qualified equity investment was structured by Crescent Growth Capital to enable the rebuilding of the historic Main Building, forcefully reiterating OLLU’s status as the foremost venue for Mexican-American economic advancement in the San Antonio region.

The reconstructed Main Building will constitute the foundation stone of a larger effort to revitalize the immediate neighborhood, a highly-distressed census tract with a 25% poverty rate and unemployment nearly 50% more prevalent than in the United States as a whole.

Absent the New Markets subsidy, the university would have had to make up for a multi-million dollar insurance shortfall by cutting back its curricula, reducing student services or increasing tuition, undermining its historic mission of serving disenfranchised populations.

Lakeview Grocery

December 7, 2009 by

Essential to the ongoing post-Katrina rebuilding effort in New Orleans is the provision of needed neighborhood infrastructure. In addition to road and utility reconstruction, neighborhood recovery encompasses important services, like healthcare and grocery stores.

Crescent Growth Capital aided the rebuilding of the devastated Lakeview neighborhood, simultaneously generating job opportunities and supporting the Obama Administration’s Healthy Food Financing Initiative, by structuring a $6 million New Markets Tax Credit qualified equity investment on behalf of Harrison Fresh Market, LLC.

Lakeview Grocery, a full-service 21,000 square foot store operated by local grocer Robert Fresh Market, opened in the last week of October 2010.

Lafayette General Medical Center

September 21, 2009 by

Crescent Growth Capital assisted Lafayette General Medical Center in Lafayette, LA by structuring a $35 million New Markets Tax Credit qualified equity investment.

New Markets Tax Credits

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