Project Shares $26M in New-Market Tax Credit Financing
The Philadelphia-based Center for Health and Literacy will share $26 million in New Market Tax Credit funding through City First Bank of D.C. The center is a cooperative project between Children’s Hospital of Philadelphia and the city of Philadelphia that will offer medical care, recreation and literacy programs in one central location for children and adults. The New Markets Tax Credit Program will also enable City First Bank to finance the renovation and expansion of a Washington, D.C. charter school campus and a medical research facility in Baltimore. “Through these programs, we have been able to finance socially impactful projects that have created jobs and provided critical community services,” said Brian Argrett, president and CEO of City First Bank.