$60M Award Will Create Positive Social Impact
We’re excited to announce that Enterprise was awarded $60 million in New Markets Tax Credit (NMTC) allocation from the U.S. Treasury Department’s Community Development Financial Institutions Fund. This marks our 14th award, and cumulatively we’ve received $1.1 billion since the program’s inception.
Over the history of the program, Enterprise has used NMTC investments to finance a wide range of high-impact developments across the country. Our investments have created 35,000 jobs, facilitated 1.5 million health care visits and developed or rehabbed 11.5 million square feet of community facility space.
In one recent example, Enterprise provided $9 million for Miami Lighthouse for the Blind. Lighthouse provides services for blind and visually impaired persons from infancy through their senior years.
The NMTC-financed expansion allowed Lighthouse to increase services to children, including a dedicated classroom and playground for playgroups for visually impaired children, expanded preschool space for Lighthouse’s inclusive early-learning environment (where 50% of children are visually impaired) and new spaces for summer and weekend programs for visually impaired elementary school students.
Lighthouse also provides services to teens, adults and seniors, including computer skills, job training, arts & crafts, music and fitness and nutrition. Lighthouse provides services in English, Spanish and Creole. A ribbon cutting for this facility was held last month.