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Quick Facts

Project Name
ExxonMobil YMCA
CDE
East Baton Rouge Community Development Entity (EBRCDE)
Total Development Cost
$6,466,000
EBRCDE Allocation
$6,100,000
Location
7717 Howell Boulevard
Baton Rouge, LA 70807
NMTC Consultant
taxadvantagegroup, llc
QALICB
Howell Place YMCA
Developer
YMCA of the Capital Area
Square Footage
12,000
Leveraged Lender
YMCA of the Capital Area
NMTC Investor
Capital One
Permanent Jobs
20 Direct
Construction Jobs
140 Direct
Low-Income Community
Poverty Rate 31.6%
MFI 57.7%
Unemployment 9.6%
State Enterprise Zone
FEMA Major Disaster
Declaration
Financing Complete
September 2010

ExxonMobil YMCA


Baton Rouge, LA

The Project

ExxonMobil YMCA

In September 2010 the ExxonMobil YMCA began construction on a 12,000 square foot facility located on 2.8 acres of land at Howell Place in North Baton Rouge, LA. The site, donated by Howell Place developer Richard Preis, is part of a 200-acre plot of north Baton Rouge land located at I-110 and Harding Boulevard that has been transformed from unused acreage to a business park. It is home to various businesses including, Baton Rouge Surgical Hospital, Hilton Garden Inn, Microtel Inn, Marriott Spring Hill Suites, Neighbors Federal Credit Union, Wal-Mart Distribution Center, Burger King, IHOP, Country Kitchen, Sonic Drive-In Restaurant, Foot Surgical Center and Howell Place Dialysis Center.

This new facility will allow the YMCA to fulfill its mission of building “Strong Kids, Strong Families and Strong Communities” for the North Baton Rouge Community. The YMCA of the Capital Area currently has 28,894 members and serves an additional 100,000 people through programs in the community. With the addition of this facility, the YMCA will have the unique capacity to address many of the challenges facing the community today, helping to nurture the potential of youth and teens, improve health and well-being and provide opportunities to support neighbors.

The Financing

The NMTC Program filled a gap in financing that allowed the ExxonMobil YMCA to begin construction on the new facility earlier than anticipated. With total project costs exceeding $6 million, the NMTC subsidy contributed approximately $1.3 million in capital to the project. The additional sources of leverage used to complete the overall financing structure were secured from the following: ExxonMobil grant, Community Development Block Grant (CDBG), State of Louisiana, Developer Land Donation and the ExxonMobil YMCA capital campaign. taxadvantagegroup helped secure the CDE Allocation and worked in partnership with EBRCDE and the project team to negotiate the investment and manage due diligence, resulting in a successful closing. The additional subsidy infused into the project allowed the YMCA to secure sufficient capital to bring the project
to fruition.

“The importance of NMTC financing for the Howell Place YMCA is that we were able to fill the gap in the total source of their funds, which would have otherwise required an extensive donor campaign. By using NMTC the Y is now able to solicit charitable contributions for other projects, thereby advancing the growth of their services to a broader geographical base East of Baton Rouge Parish.”

– Walter Monsour, Executive Director of East Baton Rouge Community Development Entity, LLC

taxadvantagegroup (tag) is one of the country’s most successful consulting firms specializing in New Markets Tax Credits, a powerful financing tool for community development projects in the United States.

Since 2004 tag has helped revitalize low-income communities across the U.S. by securing low-cost, flexible financing for high impact projects and providing a full suite of NMTC management services.

For more information contact:

Tammy C. Propst | 864.271.2737 | tpropst@taxadvantagegroup.com