The NMTC Financing Must Provide Substantial Community Impact
A Borrower must qualitatively and quantitatively provide support of substantial community impact to the residents of the low-income community (“LIC”) in which the Borrower and/or project is predominantly located, surrounding communities and “Targeted Populations,” including “low-income persons” (“LIPs”). Such community impact includes any of the following:
- direct and indirect full-time and part-time job creation, job retention and/or construction jobs;
- jobs that provide living wages, healthcare benefits, retirement plans, life insurance, job training, continuing education;
- access to public transportation;
- consumer goods and services;
- community goods and services;
- below-market lease rates and favorable terms to tenants;
- affordable housing (if part of a qualified mixed-use project);
- “green” type benefits (such as LEED certified or at least qualified to be LEED certified); and/or
- any other community benefits.