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For Immediate Release

WNC Closes 11th New Markets Tax Credit Fund

IRVINE, CA —WNC has closed its 11th New Markets Tax Credit (NMTC) fund. Lindsey Wilson College in Columbia, KY, will use financing from the NMTC program to construct two projects, the Wellness Center and an athletic site. Lindsey Wilson College is located in a rural community which is classified as highly distressed under the NMTC criteria. The local poverty rate is 24%, and the median family income is 53%.

The Wellness Center will be built on a 4.31-acre site and will house several activities facilities, including an Olympic size swimming pool, gym, weight training and wrestling areas, and a racquetball court. The athletic site will include a baseball field, softball field and a football stadium. College officials expect that the construction of the Wellness Center and athletic fields will broaden student lifestyle and aid in the recruitment of students.

“Despite the fact that the two projects will be on college grounds, the community at large will still benefit from these projects,” remarked WNC Executive Vice President David Shafer. “The college and students will, of course, feel the greatest impact, but 75% of the residents of Columbia receive a direct economic benefit from the college.”