Roeder & Company, LLC announces the closing of a federal New Markets Tax Credit (NMTC) financing of the San Carlos Apache’s sawmill in Cutter, Arizona. Roeder & Company sourced $9 million in federal NMTC allocation from Ecotrust CDE for the financing of the new sawmill producing rough green lumber from its reservation timberland. Valley National Bank was the tax credit investor.
The new sawmill is on the same site as the Tribe’s prior sawmill which had fallen into disrepair. The new facility will allow the Tribe to strategically harvest its timber in a manner that aids the health, fire resistance, and sustainability of its timberland while creating new jobs and resources for the local native community.
“Without the mill we, and parts of the surrounding national forests, were having trouble finding viable market outlets for the timber resources harvested. Now that we can sell what we harvest we are able to better manage forest health on the reservation and nearby communities,” said Dee Randall, San Carlos Apache Forest Products Company, Inc. Chairman.
A second phase of the project is planned that will add a planer and kilns so that higher value, and more marketable, lumber can be produced enhancing the profitability of the sawmill and expanding the number of jobs created.
“The NMTC funding for the project in its current form has been an effort exceeding 7 years,” said Reynold Roeder, Roeder & Company CEO. “The project site required some environmental remediation and various issues arose over those years that delayed the financing. The NMTC grant-like subsidy is anticipated to provide some working capital for the sawmill and kickstart the second phase.”
For more information on the San Carlos Apache Tribe please see www.https://www.scat-nsn.gov/
The new sawmill is on the same site as the Tribe’s prior sawmill which had fallen into disrepair. The new facility will allow the Tribe to strategically harvest its timber in a manner that aids the health, fire resistance, and sustainability of its timberland while creating new jobs and resources for the local native community.
“Without the mill we, and parts of the surrounding national forests, were having trouble finding viable market outlets for the timber resources harvested. Now that we can sell what we harvest we are able to better manage forest health on the reservation and nearby communities,” said Dee Randall, San Carlos Apache Forest Products Company, Inc. Chairman.
A second phase of the project is planned that will add a planer and kilns so that higher value, and more marketable, lumber can be produced enhancing the profitability of the sawmill and expanding the number of jobs created.
“The NMTC funding for the project in its current form has been an effort exceeding 7 years,” said Reynold Roeder, Roeder & Company CEO. “The project site required some environmental remediation and various issues arose over those years that delayed the financing. The NMTC grant-like subsidy is anticipated to provide some working capital for the sawmill and kickstart the second phase.”
For more information on the San Carlos Apache Tribe please see www.https://www.scat-nsn.gov/
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