Situation
When a bank needed advice on securing and deploying $78 million in federal and state New Markets Tax Credit (NMTC) allocations, it sought Husch Blackwell’s assistance in all stages of the process.
Result
We helped the client invest its allocations in communities within its banking markets. The financing funded a number of community improvements, including the construction of a school for disadvantaged youth in Chicago, operation of community-based healthcare clinics for low-income residents of Chicago, renovation of a children’s museum in Minnesota, and increased access to affordable groceries in low-income areas in Wisconsin, Illinois and Indiana.