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They Hatchery Chicago is a Partners NMTC project.
The New Markets Tax Credit (NMTC) drives community development and economic growth by using tax credits to attract private investment to distressed areas.
Highlights include:
- We financed community services, education, and healthcare projects
- Community facilities: Arts, job training, youth services, addiction recovery, mental health counseling and multi-services centers that support children and families
90% are low income (defined as 80% AMI or lower), and 67% are BIPOC - Created and retained 1,137 full time jobs, with 85% earning a living wage and 93% receiving health benefits.
Since 2023:
projects funded
$
million dispersed
individuals served
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Areas focused on:
- Education: Three charter schools funded
- Healthcare: One organization focusing on maternal health and one for seniors – 856 total patients and 40,720 square feet of space
- Commercial real estate: Provided 66,831 square feet for local entrepreneurs
Partners focuses its investments on community facilities projects that provide significant benefits for low-income people and their communities in severely distressed Census tracts. Eligible projects include educational facilities, including high-impact charter schools, community health facilities such as Federally Qualified Health Centers (FQHCs), and social services facilities. Partners has a national footprint and seeks geographic balance in its investments, as well as investments in underserved states.