Roeder & Company, LLC and Enhanced Community Development announce the closing of an $8 million Oregon New Markets Tax Credit (NMTC) financing for the Coquille Indian Tribe’s re-acquisition of 3,185 acres of timberland in rural Curry County, Oregon. This land is part of the ancestral homeland of the Coquille Tribe and the acquisition of the land contributes to the Tribe’s long-term vision and plan for economic self-sufficiency and cultural revitalization. The land is also very significant from a conservation perspective as it provides critical habitat for chinook salmon spawning.
In addition to Oregon NMTCs, the Tribe received a significant allocation of Federal NMTCs from Ecotrust, a national Community Development Entity (CDE) headquartered in Portland, Oregon. The Oregon and Federal NMTC financings enabled the Tribe to purchase the land, hire five low-income individuals, and implement a forest management plan certified by the Forest Stewardship Council.
“This acquisition is culturally significant for us as the acreage is part of our Tribe’s ancestral homeland,” said George Smith, Executive Director of the Tribe. “The NMTC net benefit has helped us give our members an opportunity to reconnect to that land.”
“NMTCs were essential in this transaction, as the Tribe would not have been able to complete the acquisition with traditional market-rate financing. The net benefit from these tax credits has enabled the Tribe to expand its timber holdings by 60 percent,” said Roeder & Company CEO Reynold Roeder.
For more information about the Coquille Indian Tribe, please visit www.coquilletribe.org.
In addition to Oregon NMTCs, the Tribe received a significant allocation of Federal NMTCs from Ecotrust, a national Community Development Entity (CDE) headquartered in Portland, Oregon. The Oregon and Federal NMTC financings enabled the Tribe to purchase the land, hire five low-income individuals, and implement a forest management plan certified by the Forest Stewardship Council.
“This acquisition is culturally significant for us as the acreage is part of our Tribe’s ancestral homeland,” said George Smith, Executive Director of the Tribe. “The NMTC net benefit has helped us give our members an opportunity to reconnect to that land.”
“NMTCs were essential in this transaction, as the Tribe would not have been able to complete the acquisition with traditional market-rate financing. The net benefit from these tax credits has enabled the Tribe to expand its timber holdings by 60 percent,” said Roeder & Company CEO Reynold Roeder.
For more information about the Coquille Indian Tribe, please visit www.coquilletribe.org.
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