Tax Credits For Kansas City Urban Core ALMOST Explained

Actually, this report does an EXCELLENT job of explaining one of the strongest tools for urban redevelopment.

Here's just a bit of testimony liberated from behind a paywall . . .

“The work along Troost is a is a great example of our commitment to try and drive more investments on the East Side of Kansas City where you have a disproportionate amount of poverty and distress,” said Ruben Alonso, CEO of AltCap, which has NMTCs allocated to it. “We supported very targeted investments in the parts of the city that needed it the most. New Markets Tax Credits have been a powerful tool for us to direct some investment onto Troost. We've probably supported about $40 million of investment along Troost between 24th Street and 37th Street through New Markets Tax Credits, small business loans and micro loans. It has really demonstrated that you could support investments in parts of the city that have been underinvested or just overlooked by traditional financial institutions or investors.”

Read more via www.TonysKansasCity.com link . . .

KC Biz Journal: Alternative finance shows results in Kansas City’s distressed neighborhoods