January 7, 2014
NDC’s project Roswell Park Cancer Institute was highlighted in the January 2014 issue of the Novogradac Journal of Tax Credits, See full article in link below.
NDC’s $8 million Qualified Equity Investment in the $46 million project was combined with financing and NMTC allocation from Chase Bank, Building America CDE and Dudley Ventures, resulting in the projected creation of 200 construction jobs and 340 permanent jobs.
Roswell Park Cancer Institute (RPCI), is America’s first cancer center founded in 1898 by Dr. Roswell Park. The non-profit institute has been providing hospital care to a medically underserved area in Buffalo, NY for over 100 years. With the assistance of the NMTC Program, RPCI will construct a 140,000 square foot Clinical Science Center (CSC) building on its campus. The 11-story CSC building will connect the Main Hospital to a new Research Center and expand the Institute’s Cancer Prevention program space by 100%. Benefits include space for administrative offices previously held in the Main Hospital and space for up to 10,000 additional community mammogram screenings to be performed each year. The institute also plans to work with several area nonprofit and governmental organizations to recruit low-income employees to fill jobs created by the project