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Financial Services| Client Successes

Tax Credit Assists Los Angeles Nonprofit

Situation

The Dream Center in Los Angeles, Calif., is a faith-based nonprofit provider of services to many at-risk and underserved populations. We advised two community development entities (CDEs)—Opportunity Fund Northern California and National New Markets Fund—in connection with financial backing for the development of the Dream Center.

Result

New Markets Tax Credit allocations from each CDE helped facilitate below-market-rate loans to the Dream Center project. The completed facility consists of nearly 400,000 square feet at the former Queen of Angels Hospital.