Developments > Groundworks Collaborative
To request a $2,000,000 allocation of Round 14 NMTC authority to finance the development of Groundworks Collaborative’s new permanent campus located at 54-60 South Main Street in Brattleboro, Vermont. Groundworks provides essential shelter and services, including housing case management, health care and advocacy, to homeless individuals and households in Southern Vermont. The new campus will house Groundworks’ Seasonal Overflow Shelter, Day Shelter, and Drop-In Center and consolidate workspace for operations and case management staff. MHIC Sub-CDE 62 will provide $1,960,000 in Qualified Low-Income Community Investments (QLICIs) with the balance of the QEI used to pay CDE sub-allocation fee. As part of the Chase-MHIC Small QLICI Fund, the tax credit investor is likely to be Chase Bank, who will pay $0.75 per credit. No other CDEs.
Groundworks Collaborative
Project at a Glance:
Location:
Brattleboro
Development Type:
Commercial
MHIC Financing:
$3,030,000 in NMTC financing
Sponsor:
Groundworks Collaborative, Inc.
To request a $2,000,000 allocation of Round 14 NMTC authority to finance the development of Groundworks Collaborative’s new permanent campus located at 54-60 South Main Street in Brattleboro, Vermont. Groundworks provides essential shelter and services, including housing case management, health care and advocacy, to homeless individuals and households in Southern Vermont. The new campus will house Groundworks’ Seasonal Overflow Shelter, Day Shelter, and Drop-In Center and consolidate workspace for operations and case management staff. MHIC Sub-CDE 62 will provide $1,960,000 in Qualified Low-Income Community Investments (QLICIs) with the balance of the QEI used to pay CDE sub-allocation fee. As part of the Chase-MHIC Small QLICI Fund, the tax credit investor is likely to be Chase Bank, who will pay $0.75 per credit. No other CDEs.