Cost: $19.7 million

BCCC NMTC allocation: $9.7 million

Sponsor: Shea Properties

Investor: US Bank

Location: San Diego County, CA

Description: The Mercado del Barrio project (Mercado) consists of the construction of 83,800 square feet of retail space designed specifically for the surrounding Hispanic community. Mercado aligned so well with community priorities it received a first place award for Neighborhood Planning from the California Chapter of the American Planning Association. Mercado lies within the Barrio Logan community of San Diego which had an 85% Hispanic population and 41% of its residents living in poverty. Since the 1970’s the Barrio Logan community and City of San Diego had attempted to create a project that economically stimulated the community and included a Hispanic grocer and Mercado accomplished these goals. Tied to the creation of the Mercado project was the development of 92 residential units set aside for low-income families developed by Chelsea Investment Corporation. Former San Diego Mayor Jerry Sanders said of Mercado “It’s going to enhance a culturally rich neighborhood, spur small-business creation and create jobs.”

Cost: $23.9 million

BCCC NMTC allocation: $9.3 million

Sponsor: College of the Desert

Investor: US Bank

Location: Riverside County, CA

Description: Project consists of the construction of a 40,000 square foot, 3 store campus building which includes 10,000 square feet of retail. The College of the Desert, Indio Campus (COD) was constructed on a 2.5 acre site donated by the City of Indio which was previously a defunct bus terminal and ground zero for prostitution in the area. It is COD’s goal and the belief of City and regional leaders that the COD’s presence will help revitalize the entire section of the eastern Coachella Valley Region. COD estimates it will serve 3,000 students annually with as many as 5,900 by Year 7 who primarily come from lower-income and minority households. COD offers 2 year programs and is a vital link in helping students from these backgrounds gain access to academic and job skills training that would otherwise be financially or logistically out of reach.

Cost: $27.0 million

BCCC NMTC allocation: $8 million

Sponsor: One World Beef

Investor: JPMorgan Chase

Location: Imperial County, CA

Description: The One World Beef project (OWB) consists of the purchase and rehabilitation of a 337,000 square foot beef processing plant including retrofitting the wastewater treatment facilities to upgrade them to meet the Regional Water Quality Control Board’s regulatory standard. Regarding the livestock industry, the Imperial County Economic Forecast for 2015 said: "… this industry has all but disappeared due to events that occurred earlier in 2014 when National Beef (a beef processing facility in Brawley, CA) moved their operations outside the State of California…" OWB is anticipated to revitalize the once booming livestock industry in Imperial County. Imperial County typically has between 20% - 25% unemployment which is among the highest in the nation and OWB is anticipated to create 600 jobs ramping up over a four year period. The City of Brawley Mayor, Don Wharton, stated:  “the positive impact that the re-opening of the beef plant extends beyond the city limits. Job creation on this level does not happen often, therefore the significance of this industry returning to Brawley is immeasurable.”

Cost: $27.6 million

BCCC NMTC allocation: $9 million

Sponsor: Medical Center of the Americas Foundation

Investor: Capital One

Location: El Paso County, TX

Description: The Medical Center of the Americas Tech Park project (MCA) consists of a 60,000 square foot life sciences and research facility which includes 39,830 square feet of office area and 8,621 of wet and dry labs. The City of El Paso has identified biotech as a key industry in the City’s redevelopment and growth strategy and MCA is the initial investment by the City in this strategy. It is the goal of the MCA project to create a new economic engine and introduce a new industry to El Paso and create a hub for an early stage biomedical cluster anchoring a much larger biotech park. 

Cost: $23.2 million

BCCC NMTC allocation: $10 million

Sponsor: Pacifica Companies

Investor: Wells Fargo

Location: San Diego County, CA

Description: The Sandisol Hotel project (Sandisol) consists of the construction of a 78 room hotel located in the heart of Imperial Beach, CA. Sandisol was the centerpiece of the City of Imperial Beach’s redevelopment efforts as evidenced by their contributing $7 million to Sandisol which accounted for almost the entire City’s redevelopment budget at the time. One result of Sandisol is that the surrounding low-income community is experiencing a facelift. A resident told a Governing Board member one of the biggest concerns before Sandisol opened was theft in the area which has now been transformed into a safe and vibrant neighborhood.

Cost: $54.5 million

BCCC NMTC allocation: $30 million

Sponsor: McMillin

Investor: Bank of America

Location: San Diego County, CA

Description: The Liberty Station project (Liberty Station) consists of the construction and rehabilitation of 128,804 square feet of retail space and 30,210 square feet of office space. Liberty Station was part of a much larger redevelopment area in San Diego. The City of San Diego Reuse Planning Committee wrote that the overall project was created to “anchor revitalization of the North Bay region. It will also support education, training, and research and development programs that attract new industries to San Diego and strengthen the region’s performance in international trade.” 

Cost: $19.4 million

BCCC NMTC allocation: $11 million

Sponsor: San Diego Unified School District and Main Street Power

Investor: US Bank

Location: San Diego County, CA

Description: The San Diego Unified Schools Main Street Power project (SDUS) consists of the rehabilitation of 20 separate San Diego Unified School District schools, all located in severely distressed census tracts, with solar photovoltaic systems. SDUS produces an estimated 4.3 megawatts of emission-free electricity which offsets approximately 35% of the schools electricity usage and is enough to serve 1,720 households. The QALICB developed a curriculum to be offered at the schools for students to learn about renewable energy and the San Diego Unified School District will receive significant savings over the life of the project.

Cost: $26.9 million

BCCC NMTC allocation: $10 million

Sponsor: JCG Development

Investor: US Bank

Location: San Diego County, CA

Description: The Lafayette Hotel project (Lafayette) consists of the rehabilitation of a historic hotel. Lafayette was the first historic hotel in San Diego to receive an Energy Star rating. Lafayette was turned down by approximately 50 lenders before obtaining NMTC financing. Lafayette received historic tax credits and $2.4 million from the City of San Diego demonstrating their strong support.

Cost: $11.9 million

BCCC NMTC allocation: $7.7 million

Investor: Bank of America

Location: Imperial County, CA (non-metro county when investment made)

Description: The Calexico Crossing project consists of the construction of 125,800 feet of industrial and warehouse space located directly adjacent to a Port of Entry with Mexico.

Cost: $11.9 million

BCCC NMTC allocation: $10.3 million

Sponsor: McMillin

Investor: Bank of America

Location: San Diego County, CA

Description: The NTC 210 project consists of the historic rehabilitation of 37,596 square feet of a former military building transforming it into commercial & retail space.