Arizona is widely considered rather amateurish when it comes to historic preservation. As a comparatively young state, Arizona's collection of historically significant buildings is modest, which is why demolition of several notable buildings during the past decade has ignited controversies and subsequently raised awareness of historic preservation.
Methods of delivering health care services have changed dramatically since the 1960s, but many rural hospitals built during that era struggle to offer the latest treatments from dated facilities. At Neshoba County General Hospital in Philadelphia, Miss., an overcrowded emergency room and limited outpatient capacity forced approximately 70 percent of the county’s residents to travel outside Neshoba County for their health care needs. This spring, a new hospital building – one of the first to be financed by Mississippi new markets tax credits (NMTCs) – will alleviate the problem by expanding access to state- of-the-art health care for the low-income rural community.
The American Taxpayer Relief Act of 2012 included an extension of the New Markets Tax Credit Program for 2012 and 2013, allocating $3.5 billion for each year.
Dudley Ventures is proud to have the following projects included in this comprehensive report prepared by Rapoza Associates for the NMTC Coalition: Maniilaq Elder Care Facility - Alaska, OASIS Orthopedic Hospital - Arizona, Mt. Poso Cogeneration Company - California, St. Bernard Parish Hospital - Louisiana, Resinall Corp - Mississippi, and Waters Place - Virginia. The New Markets Tax Credit (NMTC) Coalition is a national membership organization that advocates on behalf of the NMTC program. The Coalition is managed by Rapoza Associates, a public interest lobbying and government relations firm located in Washington, D.C. that specializes in providing comprehensive legislative and support services to community development organizations, associations and public agencies.
As it begins to feel the effects of the Section 1603 program's expiration, the renewable energy tax equity market is at a critical juncture. Although the grant program expired last December, most developers lined up Section 1603 deals to see them through the better part of this year and delayed the return to traditional tax credits.
In a dusty valley roughly 20 miles outside Bakersfield, Calif., stands a power plant that Kern County’s economy has relied on for more than 20 years. The Mt. Poso Cogeneration Company (MPCC) has been one of the highest-paying industrial employers in the area since it began firing coal in 1989. But the subsequent two decades brought national security concerns over fossil fuel dependence, technological advancements in renewable energy and a growing sense of environmental responsibility. After California began requiring its electric utility companies to derive an increasing percentage of their retail sales from renewable energy sources, a renewal of the original 20-year power purchase agreement (PPA) on which the plant’s existence hinged seemed less and less likely.
The U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) released the 2012 Notice of Allocation Availability (NOAA) for the 2012 round of competition for $5 billion in New Markets Tax Credits, pending Congressional authorization of the New Markets Tax Credit Program.
SECDE Ventures, LLC announced the closing of $18 million in New Markets Tax Credit financing for construction of Resinall Corp's new Hydrogenated Hydrocarbon Resin unit at its manufacturing facility in Hattiesburg, Mississippi. By shifting into this new market and as a result of the NMTC financing, Resinall will preserve 125 manufacturing jobs, and create additional jobs.
This report was prepared by Rapoza Associates for the New Markets Tax Credit Coalition. The New Markets Tax Credit (NMTC) Coalition is a national membership organization that advocates on behalf of the NMTC program. The Coalition is managed by Rapoza Associates, a public interest lobbying, policy analysis, and government relations firm located in Washington, DC that specializes in providing comprehensive legislative and support services to community development organizations, associations and public agencies.