The National Development Council partnered alongside the Community Reinvestment Fund and the Local Initiatives Support Corporation in the New Market Tax Credit financing of Houston Food Bank. Houston Food Bank distributed more than 46 million pounds of food annually through 572 hunger relief agencies in Houston and the surrounding 18 counties in southeast Texas. NDC’s $12.5 million Qualified Equity Investment in the $51.5 million project was combined with financing from Chase Bank. Additional NMTC allocation was provided by the Community Reinvestment Fund and the Local Initiatives Support Corporation, resulting in the creation of 150 construction jobs and 90 permanent jobs. In the video linked below CohnReznick highlights the new 320,000 square foot facility that quadrupled the size of Houston Food Bank food storage.
