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Georgette & Cato Johnson YMCA Outdoor Pool

New Market Tax Credit funding opportunities are complex and difficult to navigate. Steadfast City’s leadership team has been navigating the New Market’s world since 2010 and has successfully acquired $110 MM in allocation across several client projects, including impactful investment in healthcare, multi-family residential, and YMCA-centered development projects in Memphis, Ottawa, and Piqua.

With its focus on job creation and resource accessibility for low-income communities, place-based non-profits like the YMCA are excellent candidates for New Market awards. Steadfast City worked with YMCA of Memphis in their quest to build a new $12MM YMCA in the City's Whitehaven neighborhood. The NMTCs were the critical component of gap financing that allowed the project to occur.

The team at Steadfast City began by analyzing low-income community impacts/data and creating a comprehensive pitch deck targeted to tax credit allocatees (CDEs) and investors. We completed investor intake forms on behalf of our client, met with qualified CDEs, advised on additional financing sources and managed the closing process. After funds were allocated, Steadfast began assisting with NMTC compliance alongside the client’s internal and external resources (tax, human resources, accounting, etc.).