Developments > Girls Inc. of Lynn
MHIC’s New Markets Tax Credit financing closed the feasibility gap to make possible the revitalization of the historic Old Lynn School and provide a new home and state-of-the-art facility for Girls Incorporated of Lynn. Founded in 1942, and an affiliate of a national organization (Girls Incorporated), Girls Inc. of Lynn provides programs to low-income girls and their families. The non-profit’s programs encourage girls to be self sufficient, to complete their education, and to become healthy and productive members of the community. With MHIC’s New Markets and historic tax credit financing, Girls Inc. of Lynn rehabilitated the school into a 14,650-square-foot office and services space and, in the second phase of the project, built a new gymnasium, conference room and program space. By facilitating the expansion of Girls Inc. of Lynn, the New Market’s financing brings a critical service to a predominantly low-income population. The project has created new jobs, has brought new activity to the area, and it preserves an important historic property.
Girls Inc. of Lynn
Project at a Glance:
Location:
Lynn
Development Type:
Commercial
Project Type:
Historic rehabilitation and new construction
MHIC Financing:
$7,660,635 in NMTC financing
Sponsor:
Girls Inc. of Lynn
MHIC’s New Markets Tax Credit financing closed the feasibility gap to make possible the revitalization of the historic Old Lynn School and provide a new home and state-of-the-art facility for Girls Incorporated of Lynn. Founded in 1942, and an affiliate of a national organization (Girls Incorporated), Girls Inc. of Lynn provides programs to low-income girls and their families. The non-profit’s programs encourage girls to be self sufficient, to complete their education, and to become healthy and productive members of the community. With MHIC’s New Markets and historic tax credit financing, Girls Inc. of Lynn rehabilitated the school into a 14,650-square-foot office and services space and, in the second phase of the project, built a new gymnasium, conference room and program space. By facilitating the expansion of Girls Inc. of Lynn, the New Market’s financing brings a critical service to a predominantly low-income population. The project has created new jobs, has brought new activity to the area, and it preserves an important historic property.