July 28, 2022
KABC Eyewitness News at 5 covers Bethel Manor Groundbreaking from Deborah La Franchi on Vimeo.
On the same day as a major endorsement, Karen Bass spoke about the significance of projects like Bethel Manor Apartments to help solve the homeless crisis in Los Angeles.
SDS CAPITAL GROUP
1281 Westwood Blvd., Suite 200
Los Angeles, CA 90024
The New Markets Tax Credit (NMTC) program was created in 2000 to stimulate economic growth in rural and low income communities by increasing the availability of private capital. In return, NMTC investors – most often banks – are provided with a tax credit equal to 39% of the total Qualified Equity Investment (QEI) over seven-year period. This tax credit provides anywhere from a 20% to a 25% subsidy to projects. The NMTC program was born of the Community Renewal Tax Relief Act and is under the United States Treasury Department.