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/.
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/.
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