New Markets Community Grant
The goal of CAHEC New Markets (CNM) is to stimulate economic and community development and create and improve access to jobs and services in low-income communities. To support its New Markets Tax Credit investments, CAHEC New Markets is partnering with the CAHEC Foundation to provide funds to further a New Markets Tax Credit investment’s positive community impact(s).
The New Markets Community Grant is a one-time grant designed to assist CNM partners in providing life-changing opportunities to youth and young adults through wellness and education. The grant amount is calculated based on 0.25% of the allocation provided by CNM. For example, a $10 million allocation would make the CNM partner eligible to apply for a New Markets Community Grant of up to $25,000.
A CNM partner is eligible to apply for funding once an investment achieves its construction completion date with eligibility expiring 180 days after an investment’s construction completion date. To be eligible for consideration, CNM partners must complete an application detailing the use of grant funds, the benefits to participants and community members, the timeline for implementation, and a budget including all costs.
New Markets Tax Credit partners seeking more information regarding eligibility and/or the application process should contact Stefanie Lee at (919) 645-9825 or moc.c1558480167ehac@1558480167eels1558480167.
To learn more about CAHEC New Markets, LLC, click here.