New Markets Tax Credit Leverage

Conducted a tenant survey across six GMDC-managed buildings, achieving a 97% response rate in 2023, to generate a statistical portrait of tenants and assess the economic and employment impacts of its properties, including support for over 760 jobs with an average annual salary of $54,587 in 2022.

Undertakes new construction projects that combine light manufacturing space with affordable and supportive housing, such as the GMDC Brownsville Industrial Center in Brooklyn, which added 39,000 square feet of industrial space and integrated housing components.

Installs photovoltaic solar arrays across its redeveloped industrial properties, including a 106 kW array at the Manhattan Avenue complex and multiple smaller arrays (19 kW to 62 kW) at other facilities, supporting sustainability goals and reducing energy costs.

Develops, acquires, and redevelops industrial properties in urban neighborhoods to provide flexible, affordable manufacturing and workspace units ranging from 1,200 to 6,000 square feet, with rental rates between $14.50 and $17.50 per square foot. Properties are located in Brooklyn and Queens, including within designated Industrial Business Zones, and support small manufacturers, artisans, and creative enterprises.

Undertakes redevelopment of deteriorating industrial buildings and vacant properties, including historic rehabilitation and new construction projects, leveraging public and private capital. Projects include infrastructure upgrades, unit demising, and use of New Markets Tax Credits and Historic Rehabilitation Tax Credits. Completed projects include an $85,000-square-foot LEED Silver-certified building in Ozone Park and the transformation of a former bowling alley into The Greenpoint Wood Exchange.

Facilitated borrowings through a New Markets Tax Credit transaction to finance the development and construction of a health center in Queens, New York.

Engages in advocacy and forms community partnerships to advance health access and equity in low-income and historically disadvantaged communities, aligning financial and technical resources with systemic change goals.

Provides growth capital and New Markets Tax Credit investments that enable community health providers to expand services to thousands of new clients, hire additional clinicians, and generate grant-like subsidies. For example, financing enabled AllHealth Network to serve 5,000 new clients and generate $2.8M in subsidy.

Finances residential treatment facilities and alternative-to-incarceration programs that integrate mental health, substance use, and primary care services for individuals with serious mental illness, particularly those involved in the justice system. Includes support for facilities like Hope House on Crotona Park and Garcia House.

Directs fiscal functions, ensures compliance with federal and regulatory reporting requirements, and manages relationships with institutions like the Federal Home Loan Bank of NY to secure debt financing by pledging organizational assets as collateral.

Offers loans ranging from $250,000 to $25 million for major capital needs including construction, renovation, and expansion of healthcare facilities serving low-income and historically disadvantaged communities. Examples include clinics, behavioral health centers, and integrated care facilities in rural and underserved urban areas.

Offers funding and in-kind technical assistance for growth-related initiatives such as strategic planning, staff recruitment, business development, and accessing New Markets Tax Credit subsidies. Support is tailored to help community health providers overcome early-stage barriers to expansion and improve operational effectiveness.

Facilitated borrowings through a New Markets Tax Credit transaction to finance the development and construction of a healthcare facility in Brooklyn, New York.

Facilitates borrowings via New Markets Tax Credit transactions to fund the development and construction of healthcare facilities, including a facility in Queens, New York.