June 7, 2013
The National Development Council’s NMTC Project, Powers High School Nears Completion- Original post from minbcnews.com
Powers High School is completing the renovation of Fey Hall (65,000 sq. ft.) and adding a new 80,000 sq. ft. library. Located on the edge of one of the most blighted sections of Flint, the school has brought high quality education to the area and sparked a reinvestment in surrounding neighborhoods. Additional traffic generated by the school has also helped local businesses. The project is in a low-income community and is considered a Brownfield Revitalization area as well as a local TIF and Enterprise zone. The National Development Council contributed $11 million of a Qualified Equity Investment into the $20.6 million project, this was combined with financing and NMTC allocation from Chase Bank. The Powers High School project resulted in the creation of 180 construction jobs and 60 permanent positions.