June 24, 2020

Webinar – Accessing New Markets Tax Credits for Community Facilities


keyboard close up with a webinar key with a miniature microphone and headphones


Join Hope Community Capital, Forward Community Investments, Tri-City National Bank, and Notre Dame School of Milwaukee to learn how to successfully access New Markets Tax Credits (NMTC) for your community facility project, Wednesday, June 24th – 1:30p-3p. The webinar will provide participants with an overview understanding of whether NMTC is a possible source of project financing/funding for their community facility. Executive Directors, Board Members, Chief Financial Officers and Development Directors of nonprofits engaged in the development or expansion of a community facility will benefit most from this webinar. Note: Although this particular webinar is focused on a Wisconsin project – Notre Dame School of Milwaukee – the tips and ideas are applicable to any nonprofit across the nation considering NMTC as a source of financing/funding for its community facility project.

What we’ll cover:

  1. Overview of NMTC;
  2. Project eligibility: location of project, type of project being financed, timing of project;
  3. Tips on accessing NMTC for nonprofit organizations engaged in the construction or expansion of community facilities (school, health clinic, community center, food pantry, single-family housing, arts centers, etc.);
  4. The benefits of NMTC as a source of project funding;
  5. Notre Dame School of Milwaukee will share its experience in using $7M in NMTC for the expansion of its school;
  6. Forward Community Investments will discuss its NMTC program and how WI nonprofits can access it;
  7. Tri City National Bank will discuss its role as an investor in the NMTC program.

About New Markets Tax Credits (adapted from FCI):

The New Markets Tax Credits (NMTC) program is a powerful tool used by FCI and other Community Development Entities to help fund nonprofit organizations to expand their operations and invest in their local communities. Established by Congress in 2000, the NMTC program was created to provide an opportunity for corporate taxpayers to make investments that stimulate economic development and create jobs in low-income communities. NMTC financing provides borrowers with low-cost, interest-only loans for seven years, typically to build or rehab major community facilities and commercial real estate projects serving low-income communities.

About the Panelists:

Carrie Sanders, CEO, Hope Community Capital: (Far Left) Hope Community Capital (HCC) provides advisory services to organizations seeking NMTC for the development of community facilities. HCC helps nonprofit organizations identify eligible projects and assists in securing, structuring, and closing NMTC allocation. Prior to forming Hope Community Capital LLC, Carrie was the Director of Lending for Forward Community Investments and a senior consultant for Baker Tilly Virchow Krause, LLP. Carrie is currently faculty at Edgewood College’s Social Innovation & Sustainability Leadership Graduate Program where she lectures on topics of community development and social innovation. Carrie has been integral to the closing more than $300 million in New Markets Tax Credits transactions, nationwide. Learn more about Hope Community Capital at: www.hopecommunitycapital.com

Ivan Gamboa, Senior VP – Commercial Lending, Tri City National Bank: (Second to the Left)
Ivan serves as a Senior VP at Tri City National Bank in Oak Creek, Wisconsin where he leads the bank’s community development lending activities, including Tri City’s portfolio of NMTC investments. Ivan was reappointed as Chairman of the Board for the Wisconsin Housing and Economic Development Authority (WHEDA) in April 2019. Ivan also serves as Board President of the Harbor District, Inc. in Milwaukee, Wisconsin, and is the Board Chair of Carmen High School of Science and Technology. He previously served as a Board Member on the City of Milwaukee Plan Commission. Learn more about Tri City National Bank at: www.tcnb.com

Tracy Hubbard, Chief Operations Officer, Forward Community Investments: (Second to the Right) Tracy steps forward fearlessly by building trust with FCI’s board of directors, investors, funders, and donors via critical financial information and oversight that provides them with the assurances they need to continue investing critical time, talent and financial resources into FCI. Tracy leads FCI’s successful NMTC program. FCI is a three-time recipient of $75 million of NMTC; working with other NMTC allocatees and investors, FCI has funded community facility projects in urban and rural Wisconsin aligned with the organization’s mission to invest in, connect with, and advise organizations and initiatives that reduce social, racial, and economic disparities in Wisconsin communities. FCI offers financial products and development services to projects that expand and improve affordable housing, access to early childhood education, workforce training, and health services while stabilizing and revitalizing at-risk neighborhoods by enhancing individual economic self-sufficiency. Learn more about FCI at www.forwardci.org

Patrick Landry, President, Notre Dame School of Milwaukee: (Far Right) In late 2019, NDSM closed on a $7M NMTC transaction for the expansion of its 1905 campus with new facilities and improved services to serve students in their co-ed primary school and boys middle school. Prior to joining NDSM, Patrick served as Principal of Maternity BVM School and as an Assistant Principal and middle school science teacher at St. Gall School in Chicago. A Milwaukee native, Patrick earned his Bachelor of Arts from Marquette University, a Master of Science in Elementary Education from Northwestern University, and a Master of Arts in Educational Administration from the University of Notre Dame. Before Patrick moved into the President role at NDSM, he served the school as Head Principal for two years. Notre Dame School of Milwaukee is a Catholic school sponsored by the School Sisters of Notre Dame. Following in the Christian tradition, Notre Dame fosters respect, responsibility, and sharing of personal talents while preparing students for admittance to a college preparatory high school. In an English and Spanish bi-literate setting, emphasis is placed on leadership skills, critical thinking, and social justice while empowering students to make positive contributions to society. Learn more about NDSM at www.notredamemke.org

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