Impact Marketplace Fuels Educational Innovation in East St. Louis with NMTCs

In a significant advancement for education and community development, the Jackie Joyner-Kersee Foundation (JJK Foundation) has started construction on the JJK Food, Agriculture & Nutrition Innovation Center (JJK FAN Center) in East St. Louis, Illinois. This 24,000 square foot facility will provide provide critical STEAM and agricultural education to K-12 students and their families. The project was made possible with a $12 million New Markets Tax Credit (NMTC) allocation from Heartland Regional Investment Fund. Impact Marketplace assisted the JJK Foundation in securing and closing the NMTC funding necessary to bring this vision to life.

East St. Louis faces long-standing economic and educational disparities, with limited access to advanced learning resources and facilities in STEAM and agriculture. The JJK Foundation envisioned the JJK FAN Center as a catalyst for educational transformation and community empowerment, but achieving this required substantial financial support and strategic management to navigate the complexities of NMTC funding.

Impact Marketplace stepped in to provide the NMTC expertise needed to secure and successfully close the project’s $12 million funding round. Impact Marketplace’s role was crucial in translating the vision of the JJK FAN Center into a financially viable and structurally sound reality.

• NMTC Allocation Expertise: Guided the JJK Foundation through the intricacies of the NMTC program, ensuring a seamless application and closing process for the $12 million allocation funding.
• Strategic Financial Planning: Developed a sound financial structure to maximize the impact of the NMTC allocation, aligning the project’s goals with funding requirements.
• Compliance and Coordination: Managed compliance with NMTC regulations, facilitating smooth coordination among key stakeholders including HRIF, U.S. Bancorp Impact Finance, and local entities.

The JJK FAN Center stands as a testament to the transformative power of strategic NMTC management. Thanks to the efforts of Impact Marketplace, the center will serve approximately 15,000 students and their families annually, providing vital education in STEAM and agriculture.

• Enhanced Educational Access: Guided the JJK Foundation through the intricacies of the NMTC program, ensuring a seamless application and closing process for the $12 million allocation funding.
• Community Empowerment: Developed a sound financial structure to maximize the impact of the NMTC allocation, aligning the project’s goals with funding requirements.
• Sustainable Growth: Managed compliance with NMTC regulations, facilitating smooth coordination among key stakeholders including HRIF, U.S. Bancorp Impact Finance, and local entities.

Jeff Colona, director of new markets tax credits at STL Partnership, praised the project’s potential: “We are excited that this NMTC allocation can help so many deserving students. The collaboration facilitated by Impact Marketplace will be instrumental in seeing the JJK FAN Center make a lasting impact on East St. Louis and beyond.”

Impact Marketplace’s expertise in NMTC funding was crucial in realizing the JJK FAN Center. By effectively managing the financial and strategic aspects of the NMTC closing process, Impact Marketplace ensured that the project could fulfill its mission of educational innovation and community revitalization. The success of this initiative underscores Impact Marketplace’s commitment to empowering communities through patient and dynamic financial solutions.