Gulf Opportunity Zone
Smith New Market Tax Credits is pioneering a new way to approach NMTC and affordable housing. SmithNMTC orchestrated partnerships with affiliates devastated by Hurricane Katrina in the Gulf Opportunity Zone. Five Habitat for Humanity affiliates spanning three Gulf Coast states, along with US Bank, built 305 homes to sell to low income families effected by the hurricane. Habitat for Humanity of the Mississippi Gulf Coast in Biloxi, Habitat for Humanity/Metro Jackson, both in Mississippi, Bayou Area Habitat for Humanity in Thibodaux and Habitat for Humanity St. Tammany West in Louisiana, and Habitat for Humanity in Mobile County in Alabama, along with all the new home owners, saw first hand how SmithNMTCs’ unique approach to NMTC shines the spotlight on the end results: families able to afford, some for the very first time, their own homes. Additional details of this project can be found in this article published in the December 2008 issue of the Novogradic New Market Tax Credit Report.