An excellent Grand Opening this weekend for the much-needed Fine Fare Supermarket - Grand Concourse in the Bronx, New York! 🎉🎉🎉 Congratulations to MADDD Equities, Fine Fare Supermarkets & Community Capital Link on a job well done! “I am pleased that New Markets Tax Credits played a role in the successful financing of this much needed Fine Fare Supermarket," said Jim Howard. "Thank you to the NMTC community development entities that participated to make this possible. The #NMTC Program should be made permanent by Congress because of the positive impacts you can see here. Creating jobs, bringing fresh foods to neighborhoods that need it, supporting racial justice, and so much more.” Financing for the Fine Fare Supermarket utilized the NYC FRESH program and included $28M in NMTC allocation provided by Arctaris Impact Investors, TruFund Financial Services - Empowerment Reinvestment Fund, LLC, HAMPTON ROADS VENTURES, LLC and The Community Builders, Inc. Dudley Ventures/Valley Bank acted as the NMTC equity investor and provided a $12.1MM source loan to the leverage lender, as well as a $500K direct loan.
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Real Estate and Tax Credits Counsel at Thompson Coburn LLP
1wAmazing!