With three recently closed transactions to support community development projects in Florida, New Jersey, and North Carolina, Smith NMTC Associates, LLC has surpassed $500M in tax credit investments. Additional projects in development for 2020 include the Delmar DivINe initiative in St. Louis and proposals in Georgia, Maryland, New Jersey, Texas, and Virginia. Smith NMTC is [...]

While still in its early stages, the Delmar DivINe project is a special initiative close to home, literally and figuratively. This mixed-use development in the West End neighborhood of St. Louis will be a large-scale hub of activity and collaboration for nonprofits and community organizations as well as residents and businesses. Smith NMTC is helping [...]

U.S. Bank donates $15,000 to Open Hand Ministries for its Circles® program, which prepares families for homeownership. PITTSBURGH, PA (February 20, 2020)  Mayor William Peduto was joined today by Councilman Reverend Ricky Burgess, the Urban Redevelopment Authority of Pittsburgh (URA), Pittsburgh Urban Initiatives (PUI), East Liberty Development, Inc. (ELDI), U.S. Bank, Open Hand Ministries (OHM), and [...]

Last week’s NAR Policy Forum underscored intuitive conclusions about the value of homeownership with presentations from researchers and housing policy experts. With evidence-based metrics on the education, health, and economic vitality associated with homeownership versus renting, the forum offered an insightful exchange of ideas between industry partners, academics, and policy makers. The discussion included Washington [...]

"The aging of the LIHTC portfolio is an important trend to watch in the years ahead." It’s no secret that there’s incredible demand for affordable housing across America. Our work focuses on the challenge that a growing proportion of our population faces in bridging the gap between earnings and housing prices. There’s an even greater [...]

[siteorigin_widget class="SiteOrigin_Widget_Image_Widget"][/siteorigin_widget] Project Outcomes:  Total Allocation Award: $70M Allocation Years: 2015-2016; 2017 Total Transactions: 4 Total QLICIs: 11 Total QALICB / HPN Members: 9 States served: 8 Number of homes: 443 Established in 1992, the Housing Partnership Network, Inc. (HPN), a certified CDFI and CDE with a national service area, is a membership organization whose [...]

With many states having kicked off or about to convene their annual legislative sessions, there has been a new wave of headlines about housing initiatives and how the affordability crisis affects constituents in a lot of districts. Housing affordability is an issue nearly everywhere in the United States. It’s an issue that lawmakers at every [...]

Innovative Partnership Will Add 42 Affordable For-Sale Homes to Distressed Communities Smith NMTC Associates, LLC announces the closing of its latest New Markets Tax Credit (NMTC) transaction to support the development of affordable for-sale homes in Pinellas County, Florida. The deal was structured and closed in partnership with Hancock Whitney Bank, who provided the $6M [...]

As the calendar year winds to a close, we reflect gratefully on our experiences over the last twelve months. This year brought continued partnership with great organizations nationwide to promote the development of new for-sale housing and community service facilities that offer meaningful resources to neighborhoods and residents. We are fortunate to have real passion [...]

Since our business is headquartered in Missouri, we are especially attuned to the housing trends in our state and the impact of housing cost burden to our communities. We’ve been able to work with partners in many of our local communities to address the need for greater access to affordable for-sale homes and community services, [...]