Heartland Renaissance Fund received a $15 million allocation of New Market Tax Credits during the 2004 round for use within Arkansas. We worked with financial institutions in Arkansas to finance four projects. In June 2005, financing was provided to construct a 30,000 square foot medical office building. This facility provides office and retail space for health-related entities within a highly distressed medically under served area of Arkansas. In August 2005, the first round of financing was provided for the construction of a mixed use building to include retail space as well as lodging space near the communities convention center. The site is located in an economically distressed area of Arkansas. In December 2005, the first round of financing was provided for the construction of a traditional neighborhood development (TND). The site is located in a highly distressed area of Arkansas. The last project that received financing from this allocation was in June 2006. Financing was provided to construct a 30,000 square foot building which was certfied LEED Silver. This facility provides space for the companies headquarters and laboratories within an economically distressed area of Arkansas. The company develops and markets environmentally sustainable solutions for the construction and manufacturing industries.
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