Asset type: Community Facility
Project: Historic renovation of former manufacturing facility into a technology and education hub
The first education, innovation, and business incubator hub in Mississippi located in rural Yalobusha County, the project includes Base Camp Coding Academy (BCCA) which offers tuition free software engineering training to 25 disadvantaged students annually, a satellite campus for Northwest Mississippi Community College, business incubator/startup space, lease-ready office space. AMCREF Capital Consulting sourced $6.5 million of federal NMTC allocation, $7 million of state NMTCs, and syndicated $1.7 million of federal and state HTC equity for the $7 million renovation.
Project: Historic Renovation of 59,540 square foot building into a new public middle school
Tax Credits: Federal NMTCs, Federal HTCs, and State HTCs
Barton Academy for Advanced World Studies (BAAWS) is an innovative, internationally focused public middle school located in a severely distressed area in downtown Mobile, Alabama. AMCREF Capital Consulting sourced $12.5 million of federal NMTC allocation along with $4.3 million of federal and state historic tax credit equity to help finance the $13.2 million renovation of the first public school building in Alabama originally built in 1836. Vacant since 2007, The Barton Academy Foundation reopened the school’s doors in August 2021 as a model for 21st century learning with a focus on global studies and entrepreneurship, taught through a project-based curricular approach.
Project: Historic renovation into an anti-racism education and training community center
McDonogh 19 was a $16 million historic renovation of the McDonogh 19 school building originally built in 1929 in New Orleans’ Lower 9th Ward into an innovative anti-racism education and training community center. AMCREF Community Capital sourced $11.65 million of federal NMTC allocation and syndicated $4 million of federal and state HTC equity to help complete the redevelopment of the 35,000 square foot building to include the Tate, Etienne & Provost Interpretive Center, the People’s Institute Training Center, and 25 units of affordable senior housing units.