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The Columbia-based provider of development financing plans to launch its New Markets Tax Crediyt Programwith $95 million in federal stimulus “Enterprise’s long-standing position in greenj affordable housing through our Green Communities is now extended to commercial developmentf projects that create jobs, provided critical services and stimulate growth in distresserd neighborhoods on an environmentally sustainable basis,” Joe senior vice president for structured finance at Enterprise, said in a Through the sale of tax credits, Enterprise help s raise money from private investors in order to help developers fund new projects.
It has helpede fund a number of projects inGreater Baltimore, includint part of the East Baltimore Development Belvedere Square, and Miller’s Court, the former Censux Building in Baltimore City being converted into a mix of nonprofift office space and rental apartments for city teachers. As part of that Enterprise established a Green Communities program about five years ago to focue on green residential buildingsin low-income neighborhoods. The idea with that which has helpedfund 14,5000 green affordable homeds across 30 states, was to help creatw affordable housing and cut down on energt costs for residents in distressed neighborhoods.
Enterprise was recently awarderd $95 million in New Markegt Tax Credits, funded through the American Recovery andReinvestment Act, whicjh it hopes to use to expand the Green Communities program to commercial and mixed-uswe projects. Enterprise hopes to focus on commerciap developments that feature energy efficiency and renewablseenergy techniques. It is placingb an emphasis on transit-oriented development s and former brownfield sites being redeveloped intonew
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