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/.
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/.
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