New Markets Tax Credit

For 35 years, Community Ventures, a Community Development Entity (CDE) based out of Lexington, has impacted the lives of Kentuckians in economically disadvantaged areas. In the last 14 years, Community Ventures has been able to expand the scope of possible projects through the New Markets Tax Credits (NMTC) program. The program is primarily used to finance real estate, commercial, industrial, and community facility projects.

Application

As one of Kentucky’s only NMTC allocatees, Community Ventures has helped finance and support rural communities and urban environments across the state. NMTC funding targets low-income, poverty-stricken communities in designated census tracts and projects with this funding can subsidize up to 20% of their project’s capital needs.

To apply for New Markets Tax Credits, click here for our application. The application can be mailed or hand delivered to our Main Offices at 1450 N. Broadway in Lexington, KY or sent digitally to nrecord@cvky.org.

To better understand how NMTC funds effectively improve and help our communities, take a look at some of our past projects:

How collaboration, thoughtful capital, and shared purpose are expanding life-saving care in Louisville

Watch the Film

The Story Behind the Expansion

For decades, Home of the Innocents has provided specialized, round-the-clock care for children with complex medical needs. But as medical advances allowed more children to live longer, a new challenge emerged:

What happens when they turn 21? Where will they go?

This expansion answers that question.

By creating new, purpose-built space, Home of the Innocents ensures that young adults aging out of pediatric care can remain in a place designed for their safety, dignity, and long-term wellbeing.

This project reflects what’s possible when nonprofits, financial institutions, and community leaders work together—each contributing a piece toward something much larger than themselves.

Community Ventures was one of many partners involved in this effort, helping structure and support a portion of the financing through the New Markets Tax Credit program.

Projects of this scale only happen through trust, collaboration, and shared commitment to long-term impact.

This life-saving project was made possible through the collaboration of Home of the Innocents, Community Ventures, Old National Bank, the New Markets Tax Credit program, the Commonwealth of Kentucky, Messer Construction, and the dedicated clinicians, staff, residents, families, and community partners who believe that care, dignity, and belonging should never end at age 21.

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