Mid-City Community CDE
Operating Businesses Real Estate
Mid-City Community CDE
A Successful Track Record

Expanding Opportunities

The partners of Urban Atlantic founded Mid-City Community CDE (Mid-City) in 2002 to further their goal of strengthening communities through thoughtful investment.

As a certified Community Development Entity (CDE), Mid-City works with under-served communities throughout the United States and Puerto Rico. To date, it has received $309 million in New Markets Tax Credits (NMTC) and used them to fund 37 successful projects in both rural and urban locations. They range from a grocery store in Baltimore, Maryland to a YMCA in Wisconsin Rapids, Wisconsin to a pharmaceutical plant in Manati, Puerto Rico.

Mid-City finances both operating businesses and real estate projects, carefully evaluating how the projected community benefits serve low income communities and residents. It works closely with these communities to understand their needs and fund projects that meet them.

In particular, Mid-City finances NMTC projects that:

  • Create living wage jobs for low-income people

  • Increase the availability of goods and services in under-served communities

  • Bring fresh, health food to Food Deserts

  • Finance minority-owned businesses

  • Create discounted space for local and minority-owned businesses and nonprofits

NMTC Project Specialization

Mid-City finances:   

  • Operating Businesses with a focus on manufacturing and distribution companies

  • Equipment and start-up costs for grocery stores in Food Deserts

  • Adaptive re-use and mixed-use developments, including rehabilitations of historic buildings

  • Retail real estate serving communities lacking access to goods and services

 
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Mid-City’s most recent data on projects between 2014-2019 shows that its financing has had an extensive impact on low-income urban and rural communities.

 

4,000

Construction jobs created

4,200+

Permanent jobs created or retained

 

2,800

Quality permanent jobs created or retained

(66% of total permanent jobs)

1,600+

Permanent jobs accessible to lower-skilled and other hard to employ individuals created or retained

(over 33% of total permanent jobs)

 

300,000+

Square feet of retail space in distressed communities

250,000+

Square feet of grocery space in communities lacking access to healthy food

270,000+

Square feet of retail and office space with flexible lease terms

 

Mid-City at Work Nationwide…

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To explore our work, please click on the map and zoom in.

 
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NMTC – Stimulating Economic Development in Low-Income Communities

Created as part of a bi—partisan effort by Congress in 2000 to stimulate economic growth in distressed areas, the New Markets Tax Credit (NMTC) program increases the flow of capital to low-income urban and rural communities. It incentivizes private investors by offering a tax credit received over seven years in exchange for making equity investments in commercial enterprises that bring long-term benefit to low-income communities.

To qualify for NMTC, projects must be located in areas marked by high poverty rates, low median income or other qualifying characteristics. Projects must also provide community benefits such as job creation, community services or flexible lease rates for non-profit or minority-owned enterprises. Most often, NMTC provide gap financing and work in concert with other public and private funding sources.

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