Greenville New Markets Opportunity II (GNMO II), a Community Development Entity (CDE) managed by taxadvantagegroup and Greenville Local Development Corporation, recently received a $38 million allocation of New Markets Tax Credits by the Community Development Financial Institution Fund of the U.S. Department of the Treasury.
According to a news release, GNMO II will use the funds to finance “select economic developments projects in severely distressed communities” within the 10-county service area in the Upstate.
GNMO II will invest the $38 million in commercial real estate projects that support job creation and economic mobility, and create improved health and wellness services in low-income communities throughout the 10-county Upstate region, said Tammy C. Propst, GNMOII operating officer and taxadvantagegroup president, in a news release.
Organizations interested in applying for funds should contact Propst at tpropst@taxadvantagegroup.com.
