![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhKebTeda4tPpiDdjry4aIfMuj8sLpWhgL1TihVoatIIEDpLCPSTNj4gB2nnF8DZz1g2yfT49bBZVDt2XpO8RDumPp18hyKkn52YD5CjWiYMFTVQQMoV-xFmFpE5SkLaXhhzoq7egoz_kai_M0U_lNEBlxePsmc4W73fw3V7lF7UXo71AVAR5Oc2kqm/w400-h300/Magnet%20Midtown-Michael%20Collier-s.jpg) |
Opening this past week was the new MAGNET incubator and job training center on Chester Avenue in Cleveland’s MidTown neighborhood which received $5 million in New Markets Tax Credits last year. Similar trans- formative projects in this and other distressed neighborhoods will be seeking tax credits from two allocations totaling $80 million to local economic development organizations (GCP/Michael Collier). CLICK IMAGES TO ENLARGE THEM |
Yesterday in Baltimore, Treasurer of the United States Chief Lynn Malerba awarded $5 billion worth of New Market Tax Credits (NMTC) nationwide, with $80 million of that to support real estate development projects Greater Cleveland. The projects are intended to be transformative by attracting private investment to create jobs in underserved communities.
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