The Milwaukee Marriott Downtown received$40.5 million in aggregate NMTC allocation from WHEDA, Waveland, WCDLF ($30 million), and Wisconsin Business Growth Fund ($10.5 million). US Bank was the investor in credits. The developer needed NMTCs to complete its capital stack and make the project economically feasible.
WHEDA and WBGF determined this project would serve a paramount role as a job creator and an economical development opportunity on a blighted block in downtown Milwaukee. The net benefit to the project was $7,447,000 through leverage loan structure. FPP played the role of leverage lender.