MHIC Closes a $7.5 Million New Market Tax Credit Allocation to People Inc.

MHIC is thrilled to announce the closing of a $7.5 million New Market Tax Credit allocation to People Inc., filling a gap in their financing to construct their new, 19,800 square foot early childhood education and family support center in Fall River, MA!

The new building will feature 7,000 square feet of preschool classrooms, 1,800 square feet of toddler care space, 2,100 square feet of infant care space, multi-purpose programming and event rooms, a commercial kitchen, and laundry rooms. The school will go from serving 66 to 200 low-income children aged 4 weeks to 6 years and serve 316 low-income families in its Family Support Center. Additionally, the school will support 83 full-time equivalent jobs (57 new), 88% of which are accessible to individuals with less than a 4-year degree.

We are so proud to be a part of this project, and we are excited to see the positive impact this new facility will have on the Fall River community.