The Water Council received $20 million NMTC allocation from WHEDA (WCDLF). US Bank served as the investor in credits. The developer demonstrated a needs basis for NMTCs to make the project economically feasible. The developer contacted WHEDA and pitched the project's community development and improvement possibilities, job creation, and economic activity that would occur with the project moving forward. WHEDA had $20 million in credits that was set to soon expire, and the Water Council was the perfect fit to invest in. The net NMTC benefit to the project was $4,641,000 through leverage loan structure. FirstPathway Partners played the role of leverage lender.
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