Roeder & Company, LLC announces the closing of a federal New Markets Tax Credits (NMTCs) financing for the Confederated Tribes of the Umatilla Indian Reservation’s (CTUIR) new education facility on the reservation in rural Oregon. Roeder & Company sourced $17.25 million in Federal NMTC allocation for the financing of the approximately 68,000 square-foot building that will house the Nixyaawii Community School (NCS), a charter high school of the Pendleton School District, as well as the early childhood education, after-school programming, and language classes run by CTUIR. Wells Fargo provided the tax credit equity for the transaction.

Only a few generations ago, educational systems for Native children from Indian reservations were ones of forced assimilation, abuse, and disregard for Tribal heritage. The expansion of the charter high school, early childhood education programs, after-school programs, and language classes will dramatically increase access to programming that builds school readiness and provides a platform for success by infusing language and culture into education for Native American children.

“Culturally specific education is essential to rebuild trust in the educational systems in communities who have suffered this trauma,” said Doris Wheeler, Board of Trustees Treasurer. “This project will expand CTUIR and NCS educational services to over 100 additional students in the area.”

When the project bids resulted in an unexpected increase in the budget, NMTCs were tapped to fill the financing gap.

“The NMTC program is very flexible, and we were able to draw on that flexibility to close a true funding gap in the project budget,” said Sara Pietka, Roeder & Company, LLC President. “The community impacts of this project wouldn’t have otherwise materialized without the net benefit from NMTCs.”

​For more information on the Confederated Tribes of the Umatilla Indian Reservation, please visit http://www.ctuir.org/. 

Roeder & Company, LLC announces the closing of a federal New Markets Tax Credit (NMTC) financing for the San Carlos Apache Tribe’s three new community facilities on the San Carlos Apache Tribe Reservation in rural Arizona. Roeder & Company sourced $5.5 million in Federal NMTC allocation from Clearinghouse Community Development Financial Institution for the financing of two 12,600 square-foot community centers and a community swimming pool complex to include a 16-lane swimming pool with diving area, a wading pool, and a children’s pool in the Gilson Wash District, all within the boundaries of the San Carlos Apache Indian Reservation. Mohave State Bank provided the tax credit equity for the transaction.

These projects are centered around youth and safety. The activity centers will provide recreation options for youth and parents that serve as alternatives for gang activity and drug use.

“The Reservation is currently experiencing a substance abuse epidemic that affects more than 20% of the population directly and almost everyone indirectly,” said Kevin Cronk, Tribal Treasurer.  “The lack of healthy, supervised options outside of school exacerbates the problem, and these centers are critical in changing the social dynamics affecting our young people.”

Each community facility will provide permanent space for the Boys and Girls Club, San Carlos Recreation, Early Head Start, Head Start, District Administration, San Carlos Forestry, Law Enforcement, San Carlos Wellness Program, and the San Carlos Youth Council at no cost. These tenants will in turn offer 15,500 hours of educational, recreational, healthcare, and safety services annually for no or low charge to the surrounding low-income community. 

“The ability to offer these community services at rates accessible to everyone in the low-income community is preserved thanks to the NMTC net benefit provided to the project,” said Reynold Roeder, Roeder & Company CEO. “The Tribe has now seen firsthand the impact that the NMTC Program can have in furthering its development goals on Reservation. We look forward to continuing to work with the Tribe as they seek to maximize positive community outcomes using NMTCs as a financing tool on future projects.”

​For more information on the San Carlos Apache Tribe, please visit http://www.sancarlosapache.com/. 

Roeder & Company, LLC announces the closing of a federal New Markets Tax Credits (NMTCs) financing for the Yakima YMCA in Yakima, Washington. Roeder & Company sourced $9 million in Federal NMTC allocation from Enterprise Community Investment for the financing of an approximately 66,000 square-foot facility that will include a youth development area, teaching kitchen, group fitness and cardio center, gym and indoor running track, three pools, and community gathering space. Wells Fargo provided the tax credit equity for the transaction.

The new YMCA facility has been designed with specific community needs in mind; the building will provide programming to help address difficulties accessing affordable child care, improve health care options and outcomes, reduce the obesity rate, and decrease participation in gang activity.

“The new YMCA facility in Yakima will offer no-cost programs year-round for drop-in youth that provide a safe, adult-supervised space for social, recreational, and academic support opportunities,” said Bob Romero, Executive Director of the Yakima YMCA. “It will also offer a new full-service fitness center accessible to the low-income community, as well as a number of programs focusing on increasing health and wellness.”

The project is a partnership with the City of Yakima which has committed its support to construction and long-term operation of the aquatic center. The growing list of community partners and supporters includes many organizations from both the public and private sectors.

“The ability to complete the building without debt is essential to the financial capacity of the YMCA to provide programs and services at free or reduced cost to low-income young people and families,” said Sara Pietka, Roeder & Company President. “NMTCs were crucial to completing this facility without the need for ongoing debt service.”

For more information on the Yakima YMCA, please visit http://www.yakimaymca.org/.