The Smith NMTC Associates team is thrilled to announce the closing of an $8 million New Markets Tax Credit (NMTC) loan to Indianapolis Neighborhood Housing Partnership (INHP) and Indianapolis Redevelopment CDE to develop 23 for-sale homes, including the conversion of the 1.43 acre former Colonial Bakery Truck Maintenance Facility site into 22 townhomes. The project [...]

Homeownership is one of the most transformative opportunities to build intergenerational wealth and establish long-term stability in a community. But decades of discrimination have prevented Black Americans from pursuing the dream of homeownership. One such obstacle is mortgage denial rates: Black homebuyers are more than twice as likely as white applicants to be denied a [...]

Just a few weeks ago, Terry Horton, a Black landlord in Cincinnati, experienced appraisal discrimination. After refinancing his three-unit rental property, his Black lender estimated the property’s value at around $500,000. But the white appraiser valued it at only $359,000—a significantly lower amount than his lender’s initial assessment. This story is just the latest example [...]

One of the most prominent and stark examples of racial disparities in housing today is childhood lead poisoning. Although lead-based paint was primarily used in housing beginning in 1940, its effects are still present today. Between 1940 and 1978, leaded paint was frequently used in homes—and was one of the most common and hazardous [...]

In 2008, Smith NMTC Associates pioneered our groundbreaking NMTC for-sale housing model and our multi-QALICB model in our first Habitat for Humanity International transaction, deploying $25M to 5 Go Zone affiliates. THE HISTORY As a longtime Habitat St. Louis volunteer, board member, and past board president, co-founder Howard Smith has been a champion of [...]

The Smith NMTC Associates team is excited to announce the closing of a $7 million SLDC New Markets Tax Credit (NMTC) supported loan to Habitat for Humanity St. Louis (Habitat St. Louis) in partnership with St. Louis Development Corporation through its Housing Access and Neighborhood Stabilization Revolving Loan Fund, and an investment from U.S. Bancorp [...]

For decades, the disparities in exposure to hazardous pollution between white communities and communities of color have been stark and deadly. Minorities in the United States are exposed to disproportionately high levels of ambient fine particulate air pollution—the most significant environmental cause of death. Air Pollution and Environmental Racism Fine particulate matter air pollution, known [...]

The Smith NMTC Associates team is thrilled to announce the closing of a $7M SLDC New Markets Tax Credit (NMTC) supported loan to Tabernacle Community Development Corporation (CDC), a Missouri nonprofit organization, in partnership with St. Louis Development Corporation, through its Housing Access and Neighborhood Stabilization Revolving Loan Fund, and an investment from U.S. Bancorp [...]

The Smith NMTC Associates team is thrilled to announce the closing of a $13M New Markets Tax Credit (NMTC) transaction in support of R&R Marketplace, an upcoming 90,000-square-foot redevelopment of the former Schnucks Plaza in Dellwood, Missouri. About the Project With the visionary leadership of Pastors Ken and Beverly Jenkins, the founders of Refuge and [...]

Given the current economic climate and the housing crisis, affording a home has become increasingly difficult for many Americans. According to the Department of Housing and Urban Development (HUD), if more than 30 percent of income is spent on a monthly housing payment, the individual is “cost burdened.” As of December 2022, most large U.S. [...]