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Quick Facts

Project Name
Lindsey Wilson College
CDE
WNC National Community
Development Advisors, LLC (WNC)
Total Development Cost
$19,845,279
WNC ALLOCATION
$15,945,000
Location
210 Lindsey Wilson Street
Columbia, KY 42728
NMTC Consultant
taxadvantagegroup, llc
QALICB
Turner Foundation for Lindsey Wilson College, Inc.
Developer
Lindsey Wilson College, Inc.
Leveraged Lender
Lindsey Wilson College, Inc.
NMTC Investor
Fifth Third Community Development Corporation
Bond Holder
Fifth Third Bank
Permanent Jobs
58 Direct
Construction Jobs
60 Direct
Low-Income Community
Poverty Rate 23.6%
MFI 79%
Unemployment 14.8%
Non-Metro Census Tract
Appalachian Regional Commission (ARC)
  Distressed Area
Financing Complete
November 2009

Lindsey Wilson College


Columbia, KY

The Project

Lindsey Wilson College (LWC) has undergone the most dramatic transformation in the college’s 109-year history. The $39 million expansion includes: the 73,223-square-foot Doris and Bob Holloway Health & Wellness Center; the Norma and Glen Hodge Center for Discipleship; the 27,100-square-foot Dr. Robert and Carol Goodin Nursing and Counseling Center; two residence halls — Jerry and Kendrick McCandless Hall and Harold J. Smith Hall; and the Lindsey Wilson Sports Park, which is home to Blue Raider Stadium for football and track and field, Egnew Park for baseball and Blue Raider Field for softball.

Since 1998-99 the LWC student body has grown by more than 1,000 students, the faculty has more than doubled and the size of the A.P. White Campus has increased from 47 acres to more than 200. The reason for LWC’s phenomenal growth is its mission. For more than 100 years, Lindsey Wilson’s mission has been to meet students’ educational, social and spiritual needs by providing an atmosphere of active caring and Christian concern where every student, every day, learns and grows.

Health & Wellness Center
The addition of the Health & Wellness Center brought an all-new recreational fitness facility to the LWC campus and surrounding community. The 73,000-square-foot facility includes an eight-lane swimming pool, two recreational courts, a multi-purpose area, an indoor track, cardio room, exercise studio, weight room and one racquetball court. The fitness center is located on the LWC campus and offers convenient access for residents from Adair and surrounding counties. LWC offers community memberships and provides full-time professional support staff.

Lindsey Wilson Sports Park
The Sports Park is located on 20+ acres within a mile of the LWC campus. The complex includes a 12,400-square-foot field house, a synthetic turf athletic field, an outdoor track, a baseball field and a softball field. As a benefit to community residents, the Sports Park provides the LWC coaching staff with a venue to host youth summer camps and sports clinics. Additionally, the facilities are offered to the county school system to fill the void of recreational facilities available for youth sport programs in the community.

The Financing

Through the NMTC facilitated financing, LWC was able to secure sufficient capital to begin construction on the project. With approximately $3.8 million in NMTC subsidy, layered with Education Revenue Development Bonds, LWC received the necessary sources of capital to complete the complicated financing structure. taxadvantagegroup assisted in securing the NMTC allocation and negotiated all due diligence requirements with the borrower through closing. By layering the subsidy provided by NMTCs, LWC was able to utilize the leveraged bonds to secure enough capital to make this project
a reality.

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