NMTC Success Stories: Habitat ReStore in Gulfport, Mississippi
Renaissance Community Loan Fund is a recipient of New Market Tax Credits, a federal program designed to provide capital investments in projects that meet an economic need in underserved communities. Habitat for Humanity of the Mississippi Gulf Coast worked with Renaissance to receive NMTC funds and open a Habitat for Humanity ReStore location.
About the ReStore
Habitat for Humanity’s ReStore is a nonprofit home improvement outlet open to the public. The store offers appliances, building materials, and other housing items at a significant discount from retail prices.
NMTC Project Qualifications
This project is located in a qualified Low Income Community that demonstrates a poverty rate of 51.90%, median family income of 43.18%, and an unemployment rate of 11.10%.
The NTMC allocation funded the purchase, construction, and rehabilitation of a 28,000 SF Habitat for Humanity ReStore retail store and distribution center. The project revitalized a dilapidated property.
All revenue supports Habitat for Humanity of the Mississippi Gulf Coast’s work building, rehabbing, and repairing affordable housing. Habitat for Humanity partners with Job Corps and other equivalent resources to provide employment opportunities and training for low-income participants.
Do you have a project in Mississippi that may qualify for NMTC credits? Learn more about the program and submit a Project Qualification form.