Page 1

2019 PIPELINE


CSP Development Project Pipeline The Dayton North Arcade - Dayton, OH Sponsor: Cross Street Partners Allocation Sought: $20MM TDC: $42.6MM Anticipated NMTC Closing: Q2 2019 Focus: Innovation | Job Creation | Healthy Food Description: The project involves the continued development of the historic Dayton Arcade complex. The North Arcade, a series of historic buildings, will be restored to continue the retail and restaurant component created in the South Arcade. It will house a culinary training kitchen and incubator, complimentary retail space for entrepreneurs to scale up their businesses and affordable micro-lofts on the upper floors.

1001 - Winston Salem, NC Sponsor: Cross Street Partners Allocation Sought: $20MM TDC: $26MM Anticipated NMTC Closing: Q2 2019 Size: 130,000 SF Focus: Healthy Foods | Job Creation Description: This building will become an active mixed-use development designed to support Winston-Salem’s creative economy. Located in a rapidly growing commercial corridor primed for redevelopment, the project will bring light manufacturers, designers, and food entrepreneurs into one collaborative space.

The Packing House - Cambridge, MD Sponsor: Cross Street Partners Allocation Sought: $20MM TDC: $23.1MM Anticipated NMTC Closing: Q2 2019 Designation: RURAL Focus: Healthy Foods | Economic Revitalization Job Creation: 179 Permanent | 105 Construction Description: The historic Phillips Packing House Facility will be revitalized into a vibrant center for aquaculture innovation in the rural town of Cambridge, MD. The main floors will celebrate the community’s rich history with marine industry and farming, while providing the community with access to fresh foods and social spaces. The upper floors will provide coworking and innovation space to area entrepreneurs.

The Electric Works - Ft. Wayne, IN Sponsor: RTM Ventures (Cross Street Partners, Green Street Ltd, Biggs Development) Allocation Sought: $30MM TDC: $175MM Anticipated NMTC Closing: Q2 2019 Size: 700,000 SF Focus: Economic Development | Job Creation | Healthy Food Job Creation: 1,500 Permanent Description: The 15.5-acre West Campus will create a new innovation district, which will include office space, a large fresh food market, commuity-serving retail, business incubators and coworking spaces, educational programming, and public spaces. This is part of a larger redevelopment planned for the entire 31-acre GE campus, which will be undertaken in several phases and include a separately financed affordable housing component.


Advisory Project Pipeline Port Discovery Children’s Museum - Baltimore, MD Sponsor: Port Discovery Children’s Museum Allocation Sought: $10MM TDC: $10MM Anticipated NMTC Closing: Q1 2019 Size: 20,000 SF Focus: Early Childhood Education Job Creation: 25 Permanent Description: This redevelopment will create incredible new exhibits including a massive three-story interactive climbing structure, significantly upgrade the Museum’s early childhood education and development programming, and allows Port Discovery to become the largest children’s museum enrolled in the Museums For All Initiative, which provides free/reduced admission for families enrolled in the Electronic Benefits Transfer (EBT) Program.

The Avenue Market - Baltimore, MD Sponsor: Dove Cote LLC Allocation Sought: $15MM TDC: $15MM Anticipated NMTC Closing: Q3 2019 Size: 34,000 SF Focus: Healthy Food | Neighborhood Revitalization Job Creation: 118 Permanent | 55 Construction Description: This project will revitalize a West Baltimore public market at the hands of its own community members. It will create one of Baltimore’s first food aggregators, a space where local urban farmers can convene to sell goods and scale up their businesses. It will also provide retail space, a commercial kitchen incubator, a dine-in and micro restaurants.

Fair & Green Distribution Center - Wilmington, DE Sponsor: Seasons Pizza Allocation Sought: $20MM TDC: $23MM Anticipated NMTC Closing: Q2 2019 Size: 99,000 SF Focus: Job Creation | Healthy Food Job Creation: 50 Permanent Description: The project will be the renovation of an existing 99,000 SF warehouse into a food distribution center and yogurt manufacturer that will provide access to affordable healthy foods and goods, at wholesale prices, to the Mid-Atlantic ecosystem of restaurants, grocery stores, and other small retailers. The $23MM project will include the conversion of the warehouse into a state-of-the-art distribution center.

The Latrobe Building - Baltimore, MD Sponsor: Ash NYC Allocation Sought: $20MM TDC: $20MM Anticipated NMTC Closing: Q2 2019 Size: 104 Rooms Focus: Job Training | Neighborhood Revitalization Job Creation: 63 Permanent Description: Adaptive reuse of a historic office building into a 104-key destination hotel, ranging from affordable rooms with single beds to sumptuous suites with panoramic city views, and 4,000 SF of food, beverage, and retail space. The sponsors are partnering with the Center for Urban Families and Humanim to launch a new hospitality training program that will target low-income and formerly incarcerated individuals for careers in the hotel and food industries.


Advisory Project Pipeline Robbins Dancing - Baltimore, MD Sponsor: Jubilee Baltimore Allocation Sought: $5MM TDC: $7MM Anticipated NMTC Closing: Q2 2019 Size: 18,000 SF Focus: Neighborhood Revitalization Job Creation: 92 Permanent | 42 Construction Description: Continuing the revitalization of Maryland’s first Arts and Entertainment District, the historic restoration of the Robbins Dancing building, once a premier discoteque, will provide affordable office space for nonprofit organizations and community arts education and programming.

Northeast Indiana Public Radio Media Center - Ft. Wayne, IN Sponsor: NIPR Allocation Sought: $5MM TDC: $5MM Anticipated NMTC Closing: Q3 2019 Size: 14,400 SF Focus: Community Facility Job Creation: 16 Permanent Description: This historic renovation of a vacant downtown property into a state-of-the-art public podcast and audio recording facility and the new home of the Northeast Indiana Public Radio station. The new facility is over twice the size of their current location and will allow the organization to exponentially increase their capabilities, reach thousands of new members and provide quality event space.

Paul’s Place - Baltimore, MD Sponsor: Paul’s Place, LLC Allocation Sought: $13MM TDC: $15MM Anticipated NMTC Closing: Q2 2019 Size: 19,379 SF Focus: Healthy Foods | Job Creation Program Graduates: 60 Annually Description: The Paul’s Place social enterprise restaurant and culinary arts training program is responding to multiple community needs: job training, employment and neighborhood economic development - with a proven model that will empower residents to succeed and become self-sustaining. The development will create a culinary training program that will target 60 students annually and prepare them for quality employment in the culinary and hospitality industries and will bring vibrancy to the area with a new dine-in restaurant.

Fort Dodge Recreation Center - Fort Dodge, IA Sponsor: Fort Dodge REC Allocation Sought: $30MM TDC: $30MM Anticipated NMTC Closing: Q4 2019 Size: 12,263 SF Focus: Community Facility | RURAL Description: The project will include the expansion and historic restoration of the iconic Warden Plaza into a community, cultural, and recreation center. This catalytic mixed-use development in rural Iowa will consist of a black box theatre, gallery space, fitness center offering healthcare access, and additional restaurant space. It will also include 120 units of market rate residential housing, which will be separately financed.


Advisory Project Pipeline Baltimore American Ice Company Sponsor: Dacha Allocation Sought: $14MM TDC: 18.7MM Anticipated NMTC Closing: Q2 2019 Size: 160,000SF Focus: Neighborhood Revitalization Job Creation: xx Permanent | 200 Construction Description: Adaptive reuse of the historic Baltimore American Ice Company Building into a mixed-use event space, restaurant, concert venue, artist incubator, and community facility. Revitalizing the property in West Baltimore and the Midtown-Edmonson communities will spur additional development and improve the quality of life by creating jobs, new retail and community-serving amenities, and incentivizing developers to rehab vacant homes within the vicinity of the Project.

Beth Am Community Engagement Center - Baltimore, MD Sponsor: Beth Am Synagogue Allocation Sought: $10MM TDC: $10MM Anticipated NMTC Closing: Q2 2019 Size: 13,640 SF Focus: Community Facility Description: The project will include the creation of a new community engagement center, new 200 seat chapel, collaborative office spaces that will be offered at no cost to local neighborhood associations, and new event space. The community engagement center and upgraded facilities will add over 8,000 SF of new space which will allow the sponsors to effectively double the number of concurent events and programs it can support. The revitalized cultural and event center will reinstate programs that were unfortunately cut due to space issues.


N E W M A R K E T S TA X C R E D I T O P P O RT U N I T Y

The Dayton Arcade North Arcade

28 W. THIRD STREET | DAYTON, OHIO 45402

DESCRIPTION Cross Street Partners (CSP) is currently seeking $20MM in NMTC allocation for the second phase of the historic Dayton Arcade, a collection of eight buildings — a full city block—totaling over 330,000 SF in the heart of downtown Dayton’s central business district. The full development plan will recast the Arcade in much the same way in which it was initially developed in the first decade of the 20th century— with a mix of retail, offices, public space and housing. The North Arcade, for which we are currently seeking allocation, will include a kitchen incubator program, complimentary retail and restaurant space available for incubator participants, creative coworking space, and as well as affordable and market rate micro-loft apartment living. The restoration of the North Arcade will continue the momentous forward movement undertaken with the development of the South Arcade. The development will restore the interior promenade, create a stately retail and restaurant destination spanning a city block in length, and support the city’s growing population of food entrepreneurs through the creation of a culinary kitchen incubator. This program, modeled after the success of previous NMTC recipients such as the Findlay Market in Cincinnati, Ohio, will provide individuals and small businesses with the tools, space, and training they need to jump start and scale up their operations. Upper floors will include coworking office space, as well as separately financed micro-loft living which will support the city’s growing artist and student population.

BRINGING FOOD INNOVATION AND WORKFORCE TRAINING

TO THE REVITALIZATION OF

THE DAYTON ARCADE

Historically, the Dayton Arcade was a widely-celebrated achievement after its completion in the first decade of the 20th century; the structure is highlighted by a 90-foot diameter glass rotunda that many consider the most spectacular piece of architectural history in the Dayton region. But, as downtown Dayton declined in the 1970’s and 1980’s, so did the Arcade. The main building went into bankruptcy in the mid-1980’s, and was last occupied in 1990. Today, the historic Arcade is a treasure waiting to be unearthed, hidden behind vacant store façades, and unknown to an entire generation of passersby. The downtown itself is also in a state of disrepair, with numerous vacant buildings, and an overabundance of half-empty parking garages and surface lots. In the past five years, however, the City’s population has begun to grow, and there are signs of a renewed interest in living, working and visiting downtown.

For more information, please contact: Frances Mennone, Cross Street Partners fmennone@crossstpartners.com 2400 Boston Street, Suite 404 Baltimore, MD 21224 CrossStPartners.com | ArcadeDayton.com


Anticipated Uses • Culinary training & kitchen incubator: This shared use kitchen space and culinary incubator will provide local food entrepreneurs with affordable access to commercial kitchens, baking facilities, and storage space. It will also have a variety of educational programming and resources to provide members with the necessary training, mentorship, and other assistance to aid in small business growth. • Retail and restaurants: The historic promenade will be fully restored and connect to the Rotunda in the South Arcade creating a magnificent retail and restaurant destination. In an effort to further support the growing entrepreneurial community of downtown Dayton, several of these retail spaces can be available to members of the kitchen incubator through shorter lease terms, allowing them to scale up their operations more economically.

PROJECT HIGHLIGHTS Allocation Sought: $20 MM Allocation Secured: $20MM Anticipated closing: Q3 2019 Completion Date: Q4 2020

• Creative coworking space: The second and third floor of the North Arcade will be occupied by co-working space and creative offices. • Affordable and market rate micro-lofts: The top floors will feature separately financed micro-loft living, catering to Dayton’s growing population of artists, students, and entrepreneurs. This unique style of living will nurture community living and social interaction with a variety of shared amenities and common spaces.

A HUB for Community Benefits The Arcade is a catalytic project for the entire Dayton community. To ensure the economic opportunities provided by the HUB are accessible to all, an Arcade Opportunity Lab Network is being created for Phase 1 of the Arcade to provide intentional connections and linkages to communities across the City of Dayton. This network will provide a physical presence for the HUB in each section of the city, as well as programmatic links and pathways to the region’s entrepreneurial and innovation ecosystem. The Network’s “Arch” sites (shown at right) will provide access to technology, flexible workspaces, staff support for idea incubation and acceleration, workforce programs, and other initiatives tailored to the neighborhood’s unique assets and needs. • Arcade Opportunity Lab programs will be administered through a team of network wide partners that will include the City of Dayton, The Entrepreneur Center, the University of Dayton (innovation HUB tenants in the south Arcade), the Dayton Metro Library (DML), and several others. • Programming across the network will be structured in an academic-like system of increasing knowledge and specialization; where more advanced workshops and courses will be offered at the Arcade, while programs presented in the neighborhoods will fit into a more developmental-like curriculum and be facilitated by the Minority Business Assistance Center (MBAC), Entrepreneurs Center, and other partners. • A signature offering would be the New Business Orientation workshop, which will consolidate similar offerings currently spread across multiple providers in the startup ecosystem. Additional courses could include basic computer skills (email,word processing, etc.), market research, small business marketing, business networking, computer coding, and more. • As a goal, the Network will strive to establish continuity of staff, organizations, and programs between the neighborhood sites and the HUB to build trusted relationships as constituents get more engaged. To minimize the capital costs to launch these sites, Host Partners with existing building infrastructure will be secured to provide a physical home for the Network in each part of the Dayton community.

But For The redevelopment of the Dayton Arcade into a mixed-use center for innovation and the creative and visual arts requires $20MM in NMTC allocation to underwrite the significant costs of rehabilitation and to make occupancy costs affordable for targeted tenants. Subsidies will allow for additional savings to be passed along to the kitchen incubator, allowing for additional programming and affordable membership rates. In addition, the Dayton office market is extremely soft, with a vacancy rate of nearly 80%, such that the rent attainable for even market-rate tenants could not underwrite the costs of construction.

Cross Street Partners is a vertically integrated real estate company exclusively focused on re-building communities by creating vibrant urban mixed-use neighborhoods built on a foundation of innovation and entrepreneurial activity. McCormack Baron Salazar is the nation’s leading for-profit developer, manager, and asset manager of economically integrated urban neighborhoods. Since 1973, the St. Louis-based firm has been an innovator in community development and urban revitalization in 45 cities, having built more than 21,000 highquality homes for families, children, seniors and veterans. The Model Group is an integrated property development, construction and management company with a passion for revitalizing urban neighborhoods. The Cincinnati-based company is a recognized leader in historic preservation, mixed-used urban development, senior living communities, and affordable housing that is indistinguishable from market-rate housing.


N E W M A R K E T S TA X C R E D I T O P P O RT U N I T Y

1001

techies + foodies + makers 1001 S. MARSHALL STREET | WINSTON-SALEM, NC 27101

1001ws.com

DESCRIPTION Cross Street Partners, in partnership with Blackpine Development, Beta Verde LLC, and JHB Development, is proposing to repurpose The Bahnson Company Building (1001) in Winston-Salem, North Carolina. The 130,000 square foot building will become an active, mixed-use development designed to support Winston-Salem’s creative ecosystem and growing healthy foods enterprises. Located in what was once an industrial area flanked by the historic Moravian town of Salem; Winston-Salem State University(WSSU), one of the fastest growing HBCUs; Salem College, the first women’s college in the country; the University of North Carolina School of the Arts, which boasts the first public arts conservatory in the country; and the thriving and diverse West Salem neighborhood, the 1001 building occupies most of a 1.8-acre tax parcel.

AN INNOVATIVE HUB OF MAKERS, ARTISTS, AND ENTREPRENEURS

1001 will convene designers, engineers, artists, growers, makers, distributors, retailers, restaurateurs and entrepreneurs, thus creating a culture of open innovation. The proposed tenant usage features Forsyth County’s first shared use commercial kitchen and incubator/accelerator program; relocation of established clothing design company; shared textile lab and studios; light manufacturing; bakery; community arts and wellness services. This mix will inspire interdisciplinary collaboration and resource sharing as well as drive economic opportunity through workforce training and mentorship, much needed both in the neighboring low-income census track areas and amongst student populations at adjacent universities. The development team is also working to attract a small grocer or extended deli to host freshly prepared foods currently unavailable in the area and provide a place for the food entrepreneurs to sell their products.

Anticipate Uses • Shared Use Kitchen: This kitchen facility would provide commercial grade kitchen equipment, storage facilities, and wrap around business support for local entrepreneurs and food trucks to start, scale, and grow food-related businesses. • Creative Studios: 1001 will be home to an organic clothing design studio and production space, a shared textile and dye lab with adjacent studio space to be used by local and visiting artists looking for access to commercial equipment, and WIGwell’s first innovative wig design and prosthetics production facility.

For more information, please contact:

Margaret Norfleet-Neff, Cross Street Partners mnorfleet-neff@crossstpartners.com | 336.240.8374 2400 Boston Street, Suite 404 Baltimore, MD 21224 crossstpartners.com


• Oil Seed Crushing Facility: an oil seed processing facility producing hemp, canola, soy and ancient grain oils from seeds contract grown on over 300 regional farms.

PROJECT HIGHLIGHTS

• Retail, Services & Event Space: Storefront retail space will be available to local businesses that could include a restaurant, bakery and cafe, and small grocer as well as salon and wellness services such as yoga, Pilates and other integrative health offerings. An atrium events space that functions as a community space could host winter farmers’ markets and pop up eateries from the shared use kitchen, and be available for public and private events.

Anticipated NMTC Closing: Q2 2019

Allocation Sought: $20 MM Completion Date: Q4 2019 Square Feet: 130,000SF Total Development Cost: $26M

• Community Arts Studios: a veteran arts organization in Winston-Salem, Sawtooth School for Visual Arts will seek to strengthen the community’s creative core by moving its existing fiber and digital arts programs (among others) to 1001. The location will provide further access to hands-on visual art experiences for students of all ages, backgrounds and skill levels while also allowing Sawtooth to expand into new ventures such as the Shared Textile & Dye Lab.

Economic Impact The restoration of 1001 will support 100 direct construction jobs, of which at least 35% will be accessible to low-income persons. • During the construction phase, 35% of subcontracting opportunities will benefit local, women, and minority based enterprises. • Post construction, 1001 will create 255 permanent positions. 25% of these will be accessible to low-income persons and community residents.

Community Impact • Jobs and Entrepreneurship: 1001 will dismantle barriers to entry for entrepreneurs and businesses across industries and at all stages of development. Kitchen tenants will have access to the shared kitchen, which will feature a commercial grade kitchen and incubator program, dry storage, cold storage, and licensed food preparation areas, as well as support services and flexible membership terms to help them scale their business operations. • Workforce Development: A key component for the creative and culinary programs, workforce development at 1001 will be driven by tenants offering training programs that lead to jobs and job retention. The shared use kitchen, the seed crushing initiative, and the commercial textile lab, as well as partnerships with non-profits such as the Enrichment Center, will offer the opportunity for new skill development in food production/processing and the arts. The project team is also working on partnerships with local non-profits and area colleges/universities to bring their training programs into 1001, resulting in businesses located at 1001 hiring program graduates, establishing a self-sustaining cycle of success. • Food Related Programming: Located in a USDA designated food desert, 1001 will provide the community greater access to healthy food options through classes offered and goods produced at the kitchen facility, a weekly weekday farmers market, and connected restaurant spaces.

Cross Street Partners is a vertically integrated real estate company exclusively focused on re-building communities by creating vibrant urban mixed-use neighborhoods built on a foundation of innovation and entrepreneurial activity. Blackpine Development is an award-winning firm specializing in public-private partnerships, historic preservation, urban redevelopment, and mixed-use projects. Blackpine is committed to developing property that add-value to their respective community, tenancy, and project stakeholders. Founded in 2008 by Dewey Anderson, Blackpine has successfully redeveloped properties throughout the southeast. Beta Verde is a multi-pronged creative collaborative with food at the core of its programming, from farmers markets to kitchen incubators to retreats to consulting. Beta Verde serves as a consultant to adaptive reuse projects in cities across the nation. For many larger projects whose food components include shared use kitchens, market concepts, or agricultural ventures, Beta Verde is a tool for connecting strong, local partners with related visions. JHB development has a focus on placemaking projects primarily in urban cores. The tenancy is curated to have a catalytic effect for the properties and surrounding neighborhoods. Working hand in hand with startups and smaller firms to create a context for success.

But For 1001 has deteriorated substantially over the past several decades. The building has fallen out of compliance with city codes, the roof has collapsed in many locations, and it will take substantial rehabilitation funds to bring the building back into active use. Rental rates for office, retail, and event space in Winston-Salem are below the level needed to underwrite such high construction costs. Therefore, NMTCs are necessary to ensure financial feasibility for local tenants that will further the economic development and community impact missions of the project. NMTCs will also be used to significantly alleviate the costs of developing the shared use kitchen, the textile lab, and the proposed light manufacturing start ups, each capital intensive relative to their income producing potential.

JHB Development


N E W M A R K E T S TA X C R E D I T O P P O RT U N I T Y

Phase 1 (“West Campus”)

Former GE Manufacturing Facility, Fort Wayne, IN

DESCRIPTION The 31-acre former General Electric campus, vacant in recent years, is poised for a major rebirth. Employing 10,000 persons at its height, the GE facility was a manufacturing powerhouse for nearly a century. The Fort Wayne Electric Works West Campus redevelopment (The West Campus) embraces that history and once more delivers valuable economic activity, jobs, and high-profile visibility to Fort Wayne and the northeast Indiana region. The 15.5-acre West Campus, for which we are currently seeking $40MM in NMTC allocation, will house an innovation district which will include new office space, a large fresh food market, local-serving retail, business incubator, educational and university-led uses, and public event space. It will create a vibrant and re-energized community, while connecting to its adjacent neighborhoods and Fort Wayne’s central business district to the north. The Project taps into and builds on the region’s promising economic regeneration, including its advanced manufacturing, communications and defense, and financial services sectors.

ANTICIPATED USES

• Business Incubation and Collaborative Office Space: Shared office environment of more than 70,000 SF, supporting start-ups, vendors and suppliers to area companies, researchers, and entrepreneurs in Northeast Indiana. • University and innovation space: Capitalizing on strong connections to higher education and industry, the Development team is exploring partnerships and space for researchers and entrepreneurs in arts and entertainment, medical devices, metals and composite materials, engineering and advanced manufacturing. • Office space, approximately 240,000 SF: targeted to regional professional services, creative, technology, health care and advanced manufacturing companies.

THE ADAPTIVE REUSE INNOVATION DISTRICT FOR FORT WAYNE, INDIANA

• Public Event Space: The West Campus will re-energize and connect to McCulloch Park as well as provide additional indoor/outdoor event public space. • High School: Building with 25,000 SF on campus will house a STEAM high school, sponsored by Fort Wayne Community Schools. • Community Serving Food Market, Health Clinic and Retail: The complex will feature 90,000 SF of local retail, restaurant and local food market space, enlivening the once disinvested community. A regional medical system has made a 10,000 SF commitment to manage a clinic on the campus.

For more information, please contact: Tabitha Atkins, Cross Street Partners tatkins@crossstpartners.com 443.577.4386 2400 Boston Street, Suite 404 Baltimore, MD 21224 crossstpartners.com


The West Campus is part of a larger redevelopment planned for the entire 31-acre GE campus, which will be undertaken in several phases. Second phase development of the East campus will include affordable housing, hospitality, and a 1000 space parking garage. Infill and new construction is envisioned for two future phases.

ECONOMIC IMPACT The Fort Wayne Electric Works provides tangible and significant opportunities for job creation – 1500 is projected – as well as retention of regional firms that may otherwise consider relocation. Employment generation will flow not only from the commercial and residential development, but more significantly, from the innovation district programming and activities.

PROJECT HIGHLIGHTS Allocation Sought: $40 MM Anticipated NMTC Closing: Summer 2019 Completion Date: Q4 2020 Square Feet: 669,000 Total Cost: $244MM (Phase I) Jobs Created: 1,500+

The creation of the physical and operating elements of an Innovation District will include commitments and engagement from corporate, academic, and non-profit partners. Regional and national partners may include the Venture Café Foundation, Indiana-Purdue Fort Wayne (IPFW), Indiana Tech and Indiana University. The development team will provide district management to maintain the innovation space and organize events.

COMMUNITY IMPACT AND PROGRAMMING The restoration of the Fort Wayne Electric Works will represent a critical turning point for Ft. Wayne. • Community Fund: West Campus tenants will contribute $.25/SF per year to support a perpetual Community Fund, in addition to the anticipated $1MM community programming budget, as part of construction and launch of the project. The fund will support education, job readiness and access, additional commercial development, and streetscape improvements • The STEAM high school: will educate 500 students annually. The plan includes a robust internship program, linking students with companies at Electric Works and Fort Wayne. • Fresh Food Access: The 90,000SF fresh food marketspace will provide greater healthy food access for the surrounding communities. The medical care provider is considering a food/public health programming component to its clinic. • Workforce Training: The development team and general contractor are partnering with the Fort Wayne Urban League to coordinate construction hiring and apprenticeship efforts. Programming at the innovation space will be oriented to a broad audience of job seekers and entrepreneurs. An Indiana non-profit coding school (for adults) is planning its Ford Wayne expansion at Electric Works. • Sustainability: The West Campus, in conjunction with Phase 2 and beyond, will pursue a LEED Gold rating for each building. Additionally, existing utility tunnels and chase grids will allow for a campus-wide system of geothermal heating and cooling.

BUT FOR NMTC allocation is critical to the financing of the redevelopment, given prevailing market rents, the cost of environmental remediation, the launch of the innovation space, diverse and substantive programming, public amenities and open space. The development team is listing the historic campus of buildings on the National Register of Historic Places, creating access to Federal historic tax credits. The City of Fort Wayne has made a $62MM commitment to support infrastructure in and around the site.

Project Team • JV Partnership: Ancora, Biggs Family of Companies, and Greenstreet LTD. • General Contractor: Weigand Construction Company, Inc.


N E W M A R K E T S TA X C R E D I T O P P O RT U N I T Y

Port Discovery Children’s Museum 35 MARKET PLACE | BALTIMORE, MD 21202

SHOVEL-READY ABOUT THE MUSEUM As the premier children’s museum in the Mid-Atlantic region, Port Discovery Children’s Museum in Baltimore, MD educates and inspires life-long curiosity. The Museum features three floors of hands-on and interactive exhibits, as well as educational classes that encourage children to use their imaginations, ask questions, and explore how things work as they learn through play. The Museum has a positive influence on early childhood academic success by providing a safe and smart place to engage in playful learning, as well as sharing its exceptional educational programs at schools and other learning centers throughout the community. Through partnerships with area schools, nonprofits, and daycare centers, as well as an educational curriculum developed in conjunction with the Maryland State Department of Education (MSDE), Port Discovery ensures that their quality educational programming is fun, effective and accessible to all.

PROVIDING QUALITY EARLY CHILDHOOD EDUCATIONAL

PROGRAMMING TO THE CHILDREN OF BALTIMORE

Urban children’s museums, such as Port Discovery, have a unique opportunity to address the systemic social problems faced by children in our cities, especially the lack of and access to critical early childhood development and educational opportunities that provide the foundational skills (academic and social) that prepare children for school and, ultimately, future successes in life. Research increasingly demonstrates that play is critical to childhood development and learning. The style of playful learning that is nurtured by Port Discovery Children’s Museum is essential to the healthy development of all children, regardless of socioeconomic status. Recognizing the power and necessity of early childhood education and development, the reimagining of Port Discovery will allow the Museum to increase and improve the quality and quantity of its play-based educational programs and exhibits, designing experiences that support specific community needs and meet 21st century educational initiatives. For these purposes, Port Discovery is seeking $10MM in NMTC allocation to re-imagine its facility and provide new and exciting exhibits for children of all ages and backgrounds.

Anticipated Uses Since opening in 1998, nearly five million visitors have experienced the Museum’s incredible educational programs in this historic 110-year-old former fish market. Unfortunately, the building is in need of extensive structural repairs. NMTC subsidy will allow for the following updates and upgrades: •

Exhibits: Some of the Museum’s most popular exhibits are over 20 years old. These need to be replaced by new and exciting exhibits that incorporate new technological advances and reflect the latest research in child development and museum design. There will be a new port-themed exhibit exploring the role of ports in Maryland’s history and economy. A three-story interactive climbing exhibit will also be installed centered on marine and meteorological education.

For more information, please contact: Tabitha Atkins, Cross Street Partners tatkins@crossstpartners.com 2400 Boston Street, Suite 404 Baltimore, MD 21224 | crossstpartners.com


Expanded educational programming for famillies and children: In partnership with the MSDE, Port Discovery will feature dynamic spaces for family engagement involving adults as active partners in the learning experience for children as well as providing evidence-based learning tools and resources they can bring home. This programming will directly compliment MSDE’s scheduled curriculum, which will help to reinforce experiential learning. Museums for All Initiative: The Port Discovery Children’s Museum wishes to become one of the largest children’s museum participating in the national Museums for All Initiative. This innovative program requires museums to offer individual admission fees ranging from free to $3.00 (USD) to individuals and families presenting an Electronic Benefits Transfer (EBT) card or similar programs. This break through initiative has a proven track record for increasing low-income family attendance by an average of 3% on an annual basis. For the Port Discovery Children’s Museum, this means over 68,000 low-income children and caregivers would be able to experience the amazing new museum space. Building Upgrades: The aging museum’s heating, air conditioning, lighting and electrical systems will be improved and public amenities such as the lobby, restrooms and lunch room will be restored and enhanced to provide enhanced service and increased accessibility for visitors.

Community Impact The renovation of the Port Discovery Children’s Museum and adoption of the Museums for All Initiative will allow an even greater access to educational tools for children of all socioeconomic backgrounds. In addition to the substantial benefits generated by the Museums for All initiative, Port Discovery anticipates additional demonstrable impacts including: • • • •

Providing employment opportunities to 130 community members 60% of the museum’s total annual attendance are LIC/LICR Increase of annual museum attendance by 20%; and Increased services for low-income families, military families and those with special needs.

But For The re-imagining of Port Discovery requires $10MM in NMTC allocation to meet the significant costs of creating major interactive educational exhibits and improved public spaces. NMTC funding will allow the Museum to complete projects in time to celebrate its 20th anniversary. The tax credit subsidies provided by the NMTC program are critical to improving Museum exhibits, programmatic content and amenities that will enhance the visitor experience, and improve access and service to the children, parents, and teachers who visit each year. As the only cultural organization in the city dedicated solely to children, Port Discovery enhances quality of life for residents in Baltimore and the surrounding areas.

PROJECT HIGHLIGHTS Allocation Sought: $10MM Anticipated NMTC Closing: IMMEDIATELY Total Development Cost: $12MM Total Square Footage: 80,000 SF Jobs Created/Retained: 130 Community Served Annually: 300,000


N E W M A R K E T S TA X C R E D I T O P P O RT U N I T Y

The Avenue Market A Community Hub of Healthy Food and Living 1700 PENNSYLVANIA AVENUE | BALTIMORE, MD 21217

DESCRIPTION Dovecote LLC has a vision for a vibrant food and economic hub to be centered in the Upton neighborhood of West Baltimore. The city has a thriving farm ecosystem that ranges from individual family lots to neighborhood-wide collective farming plots, yet, without a clear food aggregator, tons of food go to waste each year. At the same time, neighborhoods like Upton struggle to provide fresh and affordable produce to its residents. The revitalization of the iconic Avenue Market in Upton will provide critical healthy food access support a distribution network of local farmers, while providing affordable retail space for small businesses to scale and create jobs. On behalf of Dovecote, Cross Street Partners (CSP) is seeking $15MM in NMTC allocation for the creation of a community hub of healthy food, community serving retail and amenities in West Baltimore: The Avenue Market.

Anticipated Uses • Fresh Food Market Stalls: The space will be reactivated as a food destination for West Baltimore. Market stalls will provide staples such as fresh produce, spices, meat, dairy, and baked goods daily. They will be designed to leverage some of the best hometown food brands Baltimore has to offer while providing a range of options that rival a local supermarket. Artisanal in spirit, the stalls will carry small batch food products alongside larger brands. The hybrid approach will allow vendors to subsidize their markup with that of the lower costs of well-known brands.

COMMUNITY SUPPORTED ENTREPRENEURSHIP AND THE REVITALIZATION OF A WEST BALTIMORE FOOD MARKET

• Interactive Kitchen & Food Aggregator: The Avenue Market will become Baltimore’s first food aggregator, which will help the local farming community by providing a distribution channel directly to consumers, grocery stores, and restaurants. It will help maximize the profits of small local farms by providing critical refrigeration storage and a network of wholesalers and clients to purchase goods. It will also support nutrition & cooking classes. • Micro Restaurants: Avenue Market will feature 2 – 4 ‘micro restaurants’, a Japanese restaurant concept which provides guests with an intimate and personalized dining experience. By keeping the cost of space and general overhead low and limiting the patrons served at a time, chefs would be able to put their highest-level skills and curated products into every dish, creating a one-of-a-kind and highly desirable experience. • Dine-In Theatre & Performance Space: Anchoring the Avenue Market, the theatre and performance space will serve as home to classes, workshops, and West Baltimore’s first dine-in theatre for film screenings. As an entertainment destination for families, this space will help draw people in for events, dances, live performances, and movie screenings. The space will combine a comfortable living room feel with traditional amphitheater style seating, which would be easily converted to accommodate traditional performances and other group activities.

For more information, please contact: Tabitha Atkins, Cross Street Partners tatkins@crossstpartners.com 2400 Boston Street, Suite 404 Baltimore, MD 21224 | crossstpartners.com


• Entrepreneurial Center: The Avenue Market will provide collaborative work spaces, reading dens and community event space for neighborhood residents and entrepreneurs to use at their leisure. Individuals will have access to workplace tools such as computers, wifi internet, and workforce development seminars offered monthly with partnership organizations like the City Seeds and Brioxy.

Economic Impact • The construction of The Avenue Market will support 55 direct construction jobs, of which at least 50% will be accessible to low-income persons. • On a permanent basis, the project will directly support over 118 FTEs. An estimated 50% of the FTEs will be accessible to residents of the surrounding low-income community.

PROJECT HIGHLIGHTS Allocation Sought: $15 MM Anticipated closing: Q3 2019 Completion Date: Q3 2020 Size: 34,000 SF Jobs: 100+ - 50% dedicated to local and minority residents

• During the construction period, the General Contractor is a joint venture with a MBE and at least 50% of the subcontracting opportunities will benefit M/WBE’s.

Overall Community Impact The revitalization of The Avenue Market by a dedicated team of community activists represents a turning point for the neighborhood and an opportunity for monumental positive change for West Baltimore. The project would create both a new healthy food hub and an entertainement destination for a community that has experienced decades of disinvestment. • Supporting Food Access and Local Farmers: The Avenue Market will bridge the gap between consumers and the local urban farming community. In an effort to simultaneously stop food waste, support the growth of the local farming community, and provide community residents with access to affordable healthy food options. The Avenue Market will become West Baltimore’s first food aggregator, thus creating a centralized location to buy and sell goods. • Community and City Support: The vision for the market is a collaboration of Baltimore-based entrepreneurs. These local businesses will not only fill the market stalls, but will receive support, coaching, and mentorship to help develop and build their companies and brands. The Baltimore Development Corp.(BDC), the city’s economic development agency has shown strong support for both the sponsors and the project. In addition to creating the RFP for the project specifically for the developers. The city of Baltimore and BDC are committing up to $2MM in grants and incentives for the project. • Catalytic Impact: Centrally located in a prime transit corridor on Pennsylvania Avenue, the development team sees The Avenue Market as one piece of a greater neighborhood revitalization plan. The Market will serve as an anchor for entrepreneurship, community building, and economic opportunity for hundreds of residents in the surrounding neighborhood. The sponsors are currently working with over 250 community members and area organizations to further the impact through home ownership and other commercial real estate projects.

But For The current Avenue Market space has seen little investment over the years and cannot be revitalized but for NMTC subsidy. The building’s mechanical systems must be updated to support the refrigeration and storage needs of the food vendors and farmers; subsidy is required to support the entrepreneurial and theater space; rental rates are well below the level required to underwrite such a project; and the project sponsors would like to make the space as affordable as possible to maximize earning potential for local farmers and early stage entrepreneurs. Because of these factors, upfront subsidies such as NMTCs are required to make the project financially feasible.

Cross Street Partners is a vertically integrated real estate company exclusively focused on re-building communities by creating vibrant urban mixed-use neighborhoods built on a foundation of innovation and entrepreneurial activity. Dovecote LLC, with a mission of community focus; food centered Dovecote LLC seeks to catalyze neighborhoods to build community engagement and civic participation through the creation and cultivation of third spaces. In between home and work these spaces are designed for community to collide, creation to take place and to serve as an inspiration for others within the community.


N E W M A R K E T S TA X C R E D I T O P P O RT U N I T Y

Fair & Green Food Distribution Center 915 S HEALD STREET | WILMINGTON, DE 19801

DESCRIPTION

The Project sponsor has been in the food service business for over 30 years, and this new food distribution center will allow them to use innovative models of supply chain management to support the local farming community, create efficient food processing systems, provide affordable foods/products to meet the inventory needs of restaurants and stores, and to provide affordable space to a growing local organic food producer. The $23MM project will include the conversion of the warehouse into a state-of-the art distribution center and the purchase of cutting-edge material handling, food processing equipment, and green equipment.

Yogur t prod

uction

On behalf of the F&G Food Distribution LLC, Cross Street Partners is seeking $20MM in NMTC allocation for the Fair & Green Food Distribution Center (the Project) that will be located in Wilmington, DE. The Project will be the renovation of an existing 99k SF warehouse into food distribution and production center that will provide access to affordable healthy foods and goods, at wholesale prices, to the Mid-Atlantic ecosystem of restaurants, grocery stores, and other small retailers.

INNOVATIVE COMBINATION FOOD DISTRIBUTION CENTER AND ORGANIC PRODUCTION

Anticipated Uses • Warehouse space (90k SF): The primary use of the Project will be warehouse space that will provide below-market inventory and supplies for restaurants such as fruits, vegetables, meats, and paper products. In addition to supporting the Sponsor’s network of restaurants, the Project will also target non-affiliated restaurants and retail outlets (i.e., grocery stores, convenience stores, and bodegas). • Organic yogurt production (5k SF): The Project will include production space for a local organic yogurt producer to scale up their business. The increased space allows this high quality, low cost healthy food to be available for both local and regional distribution. The Project sponsors will support this tenant by providing access to their current distribution network, allowing for fast growth.

For more information, please contact: Tabitha Atkins, Cross Street Partners tatkins@crossstpartners.com 336.240.8374 2400 Boston Street, Suite 404 Baltimore MD 21224 | crossstpartners.com


Community Impact The Fair & Green Food Distribution Center is designed to address the primary facets of healthy food systems by building the capacity and sustainability of the ecosystem that includes agricultural production, processing, distribution, and retail access. By leveraging the Project Sponsor’s buying power, the Project is able to offer wholesale prices that will directly benefit local restaurants, grocery stores, bodegas, and low-income residents. More specifically, the Project is expected to create the following direct impacts:

PROJECT HIGHLIGHTS Allocation Sought: $20 MM Anticipated NMTC Closing: Q2 2019 Completion Date: Q1 2020 Size: 99,000 square feet Total Cost: $23 MM

• The distribution center is projected to serve at least 200 restaurants and retail stores throughout the Mid-Atlantic region.

Construction Jobs: 50

• 7,000 distinct products will be available to local restaurants and smaller retail establishments.

Project Sponsor: Season’s Pizza

• The Project has partnerships with six local farms throughout the Mid-Atlantic region that will provide fresh fruits, vegetables, and other products to the new distribution center. The Project Sponsors are creating new relationships to significantly increase its sourcing for a greater variety of vegetables, chicken, and mushrooms from the local farming community.

Permanent Jobs: 50 NMTC Census Tract: 10003001902

• At least 25 different locally-owned companies’ fresh foods and products would be available for the warehouse and retail components of the Project. • The Project will incorporate green and energy efficiency components into the building’s overall design and operations, which will include solar panels on the roof, green fleet of electric forklifts and trucks, and volume composting. • The Project will award 60% of the subcontracting and procurement opportunities to minority-, women-, and locally-owned enterprises throughout the NMTC compliance period. • The Project will create and retain 50 jobs, of which all will offer living wages with benefits, career advancement, and workforce development opportunities. The majority of jobs will be available to individuals with a high school diploma.

But For The renovation of the Fair & Green Food Distribution Center into a state-of-the art warehouse and food production space requires $20MM in NMTC allocation to underwrite the significant costs of modernizing the existing site and incorporating new food processing equipment and technology. The subsidy allows the Sponsor to aggregate its food purchasing power and pass along those savings, in the form of wholesale prices, to the Mid-Atlantic network of local food entrepreneurs and retail outlets. The allocation also allows the Project to build the capacity of local farmers by supporting the production of locally-sourced sustainable food to decrease food insecurities in low-income areas.

.

Cross Street Partners: A full-service real estate company exclusively focused on re-building of communities by creating vibrant urban mixed-use neighborhoods built on a foundation of innovation and entrepreneurial activity. Fair & Green Food Distribution Center hopes to create an environment that offers wholesale prices to retail consumers for local and fresh foods. We plan to achieve that by leveraging our buying power from our 30 plus locations in the Delmarva area to deliver high quality product to a desert of fresh and healthier food options.


N E W M A R K E T S TA X C R E D I T O P P O RT U N I T Y

The Latrobe Building 2 EAST READ STREET | BALTIMORE, MD 21202

DESCRIPTION On behalf of ASH, an industry leading developer of unique properties, Cross Street Partners (CSP) is seeking $20MM in NMTC allocation for the historic rehabilitation of the iconic Latrobe Building located in Baltimore. Once complete, the 104-key hotel will reactivate an underused asset while providing quality career-track employment opportunities through a hands-on training and mentorship program for those wishing to enter the hospitality industry. Additionally, the first floor will be transformed into a lively front-facing food and social space, which will promote neighborhood growth and vibrancy. The iconic Latrobe hotel and hospitality training program will represent a new type of support system in the Baltimore market, marked by partnerships between ASH and two leading nonprofits dedicated to workforce development. Through mentorship and training, these partnerships will create a clear and strong path to steady quality employment. ASH will leverage their experience and connections within the local hospitality ecosystem to connect program graduates with quality, career-track positions in and around the Baltimore area. The conversion of the historic gem will also create a significant public benefit to the neighborhood and greater region through activation of the ground and garden levels. By inducing pedestrian traffic to the northern end of North Charles Street via the hotel’s multiple food, beverage and retail venues, as well as housing hundreds of guests each night, the conversion effort will result in increased density and a hub of activation to further strengthen the connection between Downtown and North Avenue.

RESTORING A HISTORIC

LANDMARK IN BALTIMORE

INTO A WORLD CLASS

DESTINATION

This important North Charles commercial corridor becomes increasingly vacant and downtrodden as it approaches North Avenue and the proximity of the Latrobe Building to this physical and psychological border will provide an important catalyst for the continued infill and development along this thoroughfare.

For more information, please contact: Tabitha Atkins, Cross Street Partners tatkins@crossstpartners.com 443.577.4386 2400 Boston Street, Suite 404 Baltimore, MD 21224 | crossstpartners.com


Community Impact The restoration of the historic Latrobe Building marks the next chapter in the revitalization of Central Baltimore. In recent years, local community organizations have been working with neighborhood planners to continue movements laid out in the 2013 neighborhood master plan. Items identified as of utmost importance by this plan, which will be fulfilled by the Latrobe hotel conversion, include the preservation and celebration of historic landmarks, the revitalization of the neighborhood as a cultural and tourist destination, and the development of neighborhood serving retail and restaurant spaces to compliment both the historic nature of the neighborhood and serve the needs of residents and visitors.

PROJECT HIGHLIGHTS Allocation Sought: $20MM Anticipated NMTC Closing: Q2 2019 Completion Date: Q3 2020 Construction Jobs Created: 150+ Permanent Jobs Created: 60+

Additionally, the development team is excited to provide a comprehensive industry training program with a special focus and commitment to hiring talent from the local community. The service industry offers a great career pathway with quick upward mobility and doesn’t require a formal higher education. ASH is currently developing partnerships with Humanim and the Center for Urban Families (CfUF), two well respected Baltimore-based nonprofits to help in the process of recruiting and developing the local talent base. Aspects of this partnership may include: • A hospitality and SERV Safe training programs for two cohorts annually at the Latrobe Building run by Humanim and CfUF. • The partnership will organize job fairs and hiring initiatives at the Latrobe Building, connecting 50 applicants annually to available hospitality positions around the community. ASH will use its network of hotel management companies to participate in these fairs. • Provide specific and intentional training to formerly incarcerated individuals and those with significant barriers to the workforce. • Create internships for persons interested in hotel and retail management, food services, and entertainment careers. • Partner with other hotels and hotel vendors such as laundry services and third party housekeeping in order to amplify the impact and job placement possibilities for program participants.

Economic Impact The development of the historic Latrobe Building is expected to generate an estimated 150 FTE positions during construction. Upon completion, the hotel and venue will create an estimate 63 FTE positions. These opportunities will provide quality, career track jobs. But For The development of the historic Latrobe Building requires $20MM in NMTC allocation to underwrite the significant costs of historic restoration, including structural and mechanical upgrades to this aged structure. The tax credit subsidies provided by the NMTCs allow the Latrobe Building to provide quality career track employment opportunities for local residents and members of the low-income community as well as support educational advancement initiatives currently being explored by the development team.

Cross Street Partners is a vertically integrated real estate company exclusively focused on re-building communities by creating vibrant urban mixed-use neighborhoods built on a foundation of innovation and entrepreneurial activity. ASH Hotels designs, develops, owns and operates hotels. Our hotel team is led by individuals with extensive experience opening and operating premiere hospitality properties throughout the United States. ASH is premised on the joining of historically compatible disciplines in one company and under one roof. We aspire to bridge the worlds of interior design and property development, while embracing related opportunities to design products, furniture, brands and experiences.


N E W M A R K E T S TA X C R E D I T O P P O RT U N I T Y

Robbins Dancing Building STATION NORTH ARTS & ENTERTAINMENT DISTRICT 21 E. NORTH AVENUE | BALTIMORE, MD 21202

DESCRIPTION On behalf of Jubilee Baltimore, the non-profit developers of The Centre, a successful NMTC project finished in 2015, Cross Street Partners is seeking $6MM in NMTC allocation for the Robbins Dancing Building (“the Project”), which will include new performing arts, retail, and office space. The adaptive re-use of this historic 1909 commercial building will be the next key to the continued revitalization of a Main Street community in Maryland’s premier Arts & Entertainment District, which is anchored by the Maryland Institute College of Art, Johns Hopkins University, and Baltimore’s (Amtrak) Pennsylvania Station. As a center for the creative economy, this Project will help Baltimore to attract and retain residents, grow its tax base, and create as many as 100 new jobs. The $6MM redevelopment will restore the vacant 18,000 SF building into a community-owned asset, which over the years has housed car dealerships, restaurants, a dancing academy, and two iconic Baltimore nightclubs. To compliment the creative and synergist energy that is characteristic of the Station North Arts and Entertainment District, the Project’s tenant-mix may include the following types of institutions:

THE CONTINUED REVITALIZATION OF MARYLAND’S PREMIER ARTS & ENTERTAINMENT DISTRICT

• Performing Arts Academy – The nonprofit has a 70-year track record of partnering with local schools and community organizations to expose children and educators to the performing and visual arts through performances and workshops. • Dance Studio – The expansion of a dance studio into the Baltimore market. The studio provides dance workshops, after-school programs, and digital and technical training to underserved kids across the metro area. • Café – Woman-owned coffee and bakery shop space.

For more information, please contact: Tabitha Atkins, Cross Street Partners tatkins@crossstpartners.com 443.577.4386 2400 Boston Street, Suite 404 Baltimore, MD 21224 crossstpartners.com


COMMUNITY BENEFITS Jubilee Baltimore’s The Centre was a bold and catalytic endeavor that has created a viable market for other commercial and residential projects such as: • Neighborhood revitalization – The project sponsor, Jubilee Baltimore, works on a non-profit basis for the good of the city and their neighbors. Over their 37 years of business, they have developed over $140MM in projects, the majority of which are located steps from the Robbins Dancing building. This project will continue their efforts of reactivating the Station North District into a vibrant commercial corridor supporting its neighboring communities.

PROJECT HIGHLIGHTS Allocation Sought: $6 MM Status: Predevelopment & Design Anticipated Closing: Q2 2018 90 permanent jobs 42 construction jobs

• Green energy usage – The redevelopment of Robbins Dancing will include the installation of large solar panels on the entire back roof, creating enough clean power to support the entire building. The Sponsor will explore options to provide any additionally generated power to neighboring businesses. BUT FOR Overall, Robbins Dancing needs $6MM in NMTCs to help underwrite the significant costs associated with a historic redevelopment but to also
provide below-market rents for its nonprofit tenants. The Project will be the next major development to support the transformative and demonstrative activity that is occurring in the Station North Arts & Entertainment District.

Open Works Parkway Theatre

ABOUT THE SPONSOR Jubilee Baltimore helps the people of Baltimore to build neighborhoods that are safe, stable, historic, attractive, and diverse. As developers and planners, The Centre project was a bold and catalytic endeavor that has created a viable market for other commercial and residential projects such as the Motor House, a performance space and gallery; Open Works, a membership-based makers space with a mission to make tools, technology, and the knowledge to use them accessible and affordable; and the revitalization of the 100-year-old Parkway Theatre.

Motor House

Cross Street Partners is a vertically integrated real estate company exclusively focused on re-building communities by creating vibrant urban mixed-use neighborhoods built on a foundation of innovation and entrepreneurial activity.


N E W M A R K E T S TA X C R E D I T O P P O RT U N I T Y

Northeast Indiana Public Radio Media Center 210 EAST JEFFERSON BLVD | FORMER I.O.O.F HALL | FORT WAYNE, IN WBOI.ORG

DESCRIPTION The main thoroughfare in downtown Fort Wayne is ready to anchor a significant and unique contribution to the explosive renaissance of the region. An vacant A.M. Strauss-designed building will be the Northeast Indiana Public Media Center and a focal point for community participation and engagement, an incubator that nurtures the area’s creative talent, and a catalyst for economic activity, jobs, and partnerships within Fort Wayne and the northeast Indiana region. Northeast Indiana Public Radio (NIPR) is an independent, community-based, non-profit 501(c)(3) organization, operating 89.1 WBOI (NPR News) and Classical 94.1 WBNI, along with their websites, social media, and mobile apps. Market data indicates that 100,000 listeners enjoy its content each month in 12 Indiana counties and parts of Ohio and Michigan. 89.1 WBOI and Classical 94.1 WBNI are primary sources for lifelong learning in the region.

STRENGTHENING THE INDIANA WORKFORCE THROUGH PUBLIC RADIO AND BROADCASTING

Cross Street Partners, on behalf of NIPR, is seeking NMTC allocation for NIPR’s new headquarters. The building has 14,400 square feet in a visible, accessible downtown location, compared to 6,750 square feet in its current relatively remote facility. This repurposed space will allow NIPR to engage the community as never before, with an expanded array of news, music, and arts and cultural programming. It will attract a diverse demographic that will be able to create, debate and relate to the most current and important trends, issues, and events of our region. In addition to broadcasting its current lineup of NPR programming and thousands of hours of locally-produced content, this new facility will enable NIPR to engage its audience in multiple new dimensions. All of this will be supported by an expansion of NIPR’s award-winning local news gathering capabilities that will enable it to expand the quality, in-depth news reporting that will complement NPR’s national news team. This new facility will enable NIPR to better fulfill its mission “to enhance the cultural, civic, and social fabric of the communities it serves, and to engage audiences with content that enriches the human experience.”

For more information, please contact: Tabitha Atkins, Cross Street Partners tatkins@crossstpartners.com 443.577.4386 2400 Boston Street, Suite 404 Baltimore, MD 21224 | crossstpartners.com


COMMUNITY IMPACT AND PROGRAMMING In the age of digital and mobile communications, the community wants to interact and be engaged through content and events - both in-person and virtually. NIPR will impact the lives of more than 200,000 residents each month through innovations such as: • The Podcast Café - Audio Creativity Incubator: Only the second in the U.S., the ‘Podcast Cafe’ will foster creativity and provide the technical facilities to produce podcasts and interviews, giving a voice to independent producers and underserved audiences. It will offer educational opportunities where students engage hands-on with creative audio, and allow for expanded partnerships with Purdue University Fort Wayne, the University of St. Francis, Fort Wayne Community Schools, Northwest and Southwest Allen County schools. NIPR will curate and distribute this community-produced content, showcasing the unique perspective of Northeast Indiana.

PROJECT HIGHLIGHTS Allocation Sought: $5 MM Anticipated NMTC Closing: Q2 2018 Completion Date: Q4 2019 Square Feet: 14,400 SF Total Development Cost: $5 MM • 16 permanent jobs projected year one • 1,000 students trained annually • More than 75 events and performances annually • Engaging 200,000+ constituents each year

• Performance Theater: NIPR’s new facility will feature a public theater where the community will enjoy and participate in more than 75 original local productions each year, including news events, cultural forums, concerts, poetry and storytelling. This original content will be broadcast on NIPR’s stations, and available on demand on its websites and mobile apps. • Digital Newsroom: NIPR’s new location is at the heart of the business, government, arts, and cultural center of the city, and its state-of-the-art digital equipment will allow easier access to the community and will enable its reporters to provide up to the minute news and information to listeners. • Community Info-Hub: NIPR is already the main source for community, arts, and cultural information. Electronic signage on the building will be an additional program platform, with news headlines and community information, including the ability to display live and pre-recorded video of events and programming. NIPR will be a primary media hub for issues, events, and culture in Fort Wayne. This project, concurrent with the Riverfront Promenade project, the Landing on Columbia Street development, and the GE Campus Redevelopment, will open new opportunities for partnership and collaboration in community service.

BUT FOR NMTC allocation is critical to the financing of the redevelopment, given the funding model of public media and the cost of top-to-bottom building renovation and environmental remediation. NIPR anticipates private, corporate, and foundation investments, with potential additional public sector funding. The project will bring 16 living-wage jobs to downtown, and will be a catalyst that enhances community vitality and the economy.

Listeners say they learn something new every day by listening to NIPR. A community with strong ambitions for the future – like Fort Wayne - must have a strong public radio service to achieve its goal of attracting and retaining an educated, vibrant, and informed 21st century workforce.

Cross Street Partners is a vertically integrated real estate company exclusively focused on re-building communities by creating vibrant urban mixed-use neighborhoods built on a foundation of innovation and entrepreneurial activity.


N E W M A R K E T S TA X C R E D I T O P P O RT U N I T Y

The Paul’s Place Culinary Arts Training Kitchen 937 WASHINGTON BLVD | BALTIMORE, MD 21230

DESCRIPTION On behalf of Paul’s Place, a Baltimore-based nonprofit, Cross Street Partners (CSP) is seeking $13MM in NMTC allocation for the development of a culinary training and community kitchen program. Since the uprisings in Baltimore two years ago, Paul’s Place has listened even more intently to residents who desire increased stability in their lives and their community. The resounding response from residents of Southwest Baltimore is that quality jobs are needed, particularly for adults ages 18-30. Paul’s Place is responding with a plan to build a Culinary Arts Training Kitchen. The Paul’s Place training kitchen is responding to multiple community needs – job training, employment, and neighborhood economic development – with a proven model that will empower residents to succeed and become self-sustaining. As a sign of continued progress, the project received a $2.5MM grant from the Weinberg Foundation in September. Beginning in 1982 as a small soup kitchen to feed the local community twice a week, Paul’s Place has blossomed into a catalyst for change and improvement for Southwest Baltimore. After more than 30 years of service to the community, Paul’s Place now offers over two dozen services and programs to low-income individuals and families in the Washington Village and Pigtown neighborhoods including food pantry services, laundry, literacy training, basic health services and much more.

Anticipated Uses The Paul’s Place culinary arts training kitchen will be located at the Gateway to the southwest neighborhood of Washington Village. The proposed three-story, 19,379 square foot building will fill a vacant lot on the corner of Washington Blvd and Cross Street Partners, and be entirely occupied by Paul’s Place. This new social enterprise endeavor will include a 100-seat restaurant and take-out service; commercial grade training kitchen and teaching space; event space; and office space for case workers, alleviating over-crowding in the 1118 Ward Street headquarters facility.

PROVIDING RESIDENTS OF SOUTHWEST BALTIMORE WITH THE TOOLS TO GROW IN THE CULINARY WORLD

For more information, please contact: Tabitha Atkins, Cross Street Partners tatkins@crossstpartners.com 443.577.4386 2400 Boston Street, Suite 404 Baltimore, MD 21224 | crossstpartners.com


Community Impact Paul’s Place will utilize the national, evidenced-based Catalyst Kitchens model that successfully prepares individuals for employment while simultaneously operating a restaurant and catering business. The project addresses issues of poverty, joblessness, and economic development, while equipping young adults with skills for jobs paying living wages. The project will provide the following programs: • Culinary job training program: Utilizing over 11,000 square feet of kitchen training space, Paul’s Place will run a 13-week program supporting 15 students per cohort with a goal of securing employment in the Baltimore hospitality industry earning a living wage. Training will include sous chef marketable kitchen skills, front-of-house training, and ServSafe Certification at the managerial level. Each year, 60 students will become gainfully employed in back-of-the-house and front-of-the-house restaurant skilled positions.

PROJECT HIGHLIGHTS Allocation Sought: $13MM Anticipated NMTC Closing: Q2 2019 Completion Date: Q4 2019

NEIGHBORHOOD STATS Unemployment Rate: 15% Families with children in poverty: 70% Individuals not in the labor force: 26% Individuals lacking high school degree: 40%

• Case management and support services: Job training participants will be matched with case managers to support their transition into the workforce. Other services such as literacy training, computer skills classes, and employment services be available to help ensure long-term success. • Training restaurant: The Paul’s Place model is unique in that it has a restaurant component for on-the-job experience as compared to other kitchens in Baltimore, which are strictly off-site meal preparation and/or delivery models. Southwest Baltimore is also in need of a sit-down restaurant to compliment the new Brewery and Mobtown Ballroom. This applied training and services model ensures that individuals develop marketable skills while addressing such intangible skills as teamwork, communication, and self-confidence. The trainees will practice their skills in a “real life” setting.

Economic Impact On the Paul’s Place programmatic side, the Culinary Arts Training Kitchen will create seven new full-time positions for a payroll generation of $350,000+. During the building construction phase, it is estimated that 15,000 man hours will be needed at an average of $50 per hour for a payroll generation of $750,000. Each year, the project will prepare 60 individuals to enter the hospitality and food service workforce.

But For The Paul’s Place Culinary Arts Training Kitchen requires $13MM in NMTC allocation to underwrite the significant costs of construction and to launch the workforce development initiative. The tax credit subsidies provided by the NMTCs allow Paul’s Place to provide exemplary job training to the residents of Southwest Baltimore; operate an efficient, high-quality meal production to feed disadvantaged populations; generate revenue through the social enterprise food industry; and build community through food, service, and collaboration.

Cross Street Partners is a vertically integrated real estate company exclusively focused on re-building communities by creating vibrant urban mixed-use neighborhoods built on a foundation of innovation and entrepreneurial activity.


N E W M A R K E T S TA X C R E D I T O P P O RT U N I T Y

The Fort Dodge Cultural and Recreation Center at Warden Plaza 908 FIRST AVENUE, SOUTH | FORT DODGE, IA 50501

DESCRIPTION On behalf of Fort Dodge Community Recreation Center (Fort Dodge REC) and the Fort Dodge Fine Arts Association, in partnership with the City of Fort Dodge, Cross Street Partners is seeking $30 MM in NMTC allocation to fund a collaborative and innovative project in Fort Dodge, Iowa.This unique project combines a new center for recreation, fitness and performing arts with the historic restoration and expansion of the iconic Warden Plaza building. The redevelopment of the largest building in the downtown historic district will catalyze the economic revitalization of downtown Fort Dodge and provide a community amenity that will help area employers recruit and retain a talented workforce. This mixed-use, rural project will consist of a black box theatre, rehearsal space, restaurant, art gallery, and a newly constructed Fort Dodge Recreation and Fitness Center. Separately financed and located in the top 6 floors of Warden Plaza will be 120 market-rate residential units that will address a swelling community need for quality rental housing. The Warden Plaza was originally built as a luxury hotel and boutique shops in 1923 by coal mining investor Theodore Warden. In later years, it transitioned to high-end apartments and commercial office space before finally closing its doors in 2000, where it has since sat vacant. The Warden Plaza will undergo a historic renovation to restore the red brick faรงade, 60 x 60 two story grand entrance and atrium glass roof, and the 2-story shopping plaza with mezzanine viewing, returning the building to its original grandeur. The cultural and recreation center will be connected to the Warden Plaza building via a 400-stall parking ramp that will provide much needed parking for this multi-use facility, interconnectivity for several buildings in a two-block area and serve as an intermodal transportation hub.This culture-changing project will serve as a catalyst for additional redevelopment of the downtown center in Fort Dodge.

A PREMIER CULTURAL AND RECREATIONAL DESTINATION FOR RURAL IOWA

Anticipated Uses โ€ข Fort Dodge Community Recreation Center: As the only full-service recreation and fitness facility in this rural town, Fort Dodge REC is an important component of the economic viability of this project and the greater community. The expanded Fort Dodge REC facility will provide recreation programming for youth and people of all ages. It will also provide health and wellness classes, with access to state-of-the-art fitness equipment, and therapeutic space for a physical rehabilitation clinic managed by the local hospital.

For more information, please contact: Tabitha Atkins, Cross Street Partners tatkins@crossstpartners.com 443.577.4386 2400 Boston Street, Suite 404 Baltimore, MD 21224 | crossstpartners.com


• Performing Arts Center & Gallery: Fort Dodge enjoys a robust performing arts community that is gravely in need of a primary facility. Working closely with the local arts community, the project will bring a community black box theater and rehearsal space. This performing arts facility will be used by residents of Fort Dodge and the surrounding communities within a 40-mile radius. Space on the ground floor of the Warden Plaza building will host a new historic art gallery. In partnership with the Webster County Historical Society, the gallery will be for youth and the general public to visit, learn and appreciate the robust history and culture of Fort Dodge and Webster County, Iowa.

PROJECT HIGHLIGHTS

• Community Serving Retail & Restaurants: The first two floors of the Warden Building will offer commercial space for boutique shops, a restaurant and other retail establishments.

Total Cost: $32 MM

Allocation Sought: $30 MM Anticipated NMTC Closing: Q4 2019 Completion Date: Q4 2021 Size: 126,263 SF

Designation: RURAL

Community & Economic Impact • Catalytic Impact: The historic renovation of an iconic piece of the downtown Fort Dodge landscape will serve as a critical component of the city’s larger development plan. The Plaza is centrally located and highly visible, and by providing new amenities to nearby residents, will spur additional development in the surrounding area. • Jobs and Entrepreneurship: The tenant fit out of the historic structure and construction of the new Fort Dodge REC will create an estimated 306 temporary construction jobs. Post construction, the development will create approximately 57 permanent positions between the new restaurants, theater, and expanded Fort Dodge REC. • Access to health, fitness and community services: The expanded facility will allow Fort Dodge REC to increase membership by 25%, from 3,846 members to 4,808 members. The increase in membership also includes an increase in the amount of LIPs the center is able to serve. NMTC subsidy will allow the center to nearly double the number of pro-rated memberships it is able to offer the LIC to 625 total. The facility will also be able to increase the number of community-building programs it hosts throughout the year, including marathons, health fairs, and sports tournaments. The regional hospital has engaged the project team in order to plan the inclusion of a 900 square foot space within the facility to provide physical therapy, phase 3 cardiac rehabilitation and conduct community health outreach activities. The hospital is planning to offer a nurse practitioner at this location. • Cultural Enrichment: The black box theatre will enable the Fort Dodge community and region to expand the number and scope of performing arts events and develop a performance series bringing regional and national artists/touring companies to the community for audiences as large as 500.

But For The project faces a capital gap of $6MM and cannot proceed but for NMTC subsidy. The project will be using bridge financing to cover the pledged proceeds from its fundraising campaign, anticipated public financing and a Vision Iowa Grant, but it cannot afford to take on permanent debt without raising membership costs or eliminating the discounted membership it provides to the LIC. NMTCs are also needed to lower the overall cost of occupancy for the local artists, retail, and restaurant tenants making it possible for them to locate in a state-of-the-art facility in the heart of downtown. The redevelopment of Warden Plaza has significant support from local and state officials, and has been awarded state Historic Tax Credits and other public subsidy.

Cross Street Partners is a vertically integrated real estate company exclusively focused on re-building communities by creating vibrant urban mixed-use neighborhoods built on a foundation of innovation and entrepreneurial activity.


N E W M A R K E T S TA X C R E D I T O P P O RT U N I T Y

Baltimore American Ice Company -Arts and Event Space in West Baltimore2100 WEST FRANKLIN STREET | BALTIMORE, MD 21223

DESCRIPTION On behalf of Dacha, a DC-based restaurant group, Cross Street Partners (“CSP”) is seeking $14MM in NMTC allocation for the adaptive reuse of the historic Baltimore American Ice Company Building (“the Project”) into a mixed-use event space, restaurant, concert venue, artist incubator, and community facility. Constructed in 1911, the former factory, which supplied manufactured ice to businesses and residents across Baltimore, was destroyed by a fire in 2004. The vacant mammoth has thus contributed to the decades of blight and disinvestment throughout West Baltimore and the MidtownEdmonson communities specifically. By revitalizing the largest privately-owned property in the area, it will not only spur additional development, but will improve the quality of life for local residents by creating jobs, new retail and community-serving amenities, and incentivizing developers to rehab scores of vacant homes within the vicinity of the Project.

Anticipated Uses Located across from a major node of public transportation (West Baltimore Marc Train Station and central metro-bus depot), the Project will transform two large vacant industrial buildings along an entire city block into a new vibrant entertainment destination and community gathering anchor that will attract patrons from across the Baltimore and Washington DC regions, will serve as a catalyst for additional public and private sector residential and commercial redevelopment, and will create high quality job opportunities for a community with a poverty rate over 50%. Once complete, the 160k SF Project will include:

CREATING A NEW VIBRANT ENTERTAINMENT DESIGNATION AND COMMUNITY GATHERING SPACE IN WEST BALTIMORE

• Artisan Incubator (35k SF) – In partnership with local arts organization, Open Works, and institutions such as at Johns Hopkins University and Maryland Institute College of the Arts (MICA), will provide at least 40 artists and makers with flexible studio and light manufacturing space and access to apprenticeship programs to support the creative economy; • Community Event and Retail Space (25k SF) – By replicating the success of their two restaurants in DC, Dacha will create the first event space in West Baltimore in decades. In addition to the sit-down restaurant, reception and wedding hall, the Project will also include an art gallery and retail outlet showcasing the work of the tenants of the Artisan Incubator and other local Baltimore artists, and multi-purpose community rooms for grassroots organizations and nonprofits to hold community meetings and events; • Courtyard (100k SF) – Outdoor space for festivals, concerts, and large private events.

For more information, please contact: Tabitha Atkins, Cross Street Partners tatkins@crossstpartners.com 2400 Boston Street, Suite 404 Baltimore, MD 21224 | crossstpartners.com


Job Creation • Construction Jobs: The $18.7MM redevelopment will support 200 direct construction jobs, of which at least 50% will be accessible to low-income persons and local residents. The Project is partnering with City Life Builders and Associated Builders and Contractors (ABC) to provide workforce training for low-income persons interested in careers in the construction industry. • M/WBE Participation: The Project will make a good faith effort to award at least 30% of the construction subcontracting, professional services, and procurement contracts to minority- and women-owned businesses. • Permanent Phase: Post construction, the Project will create 35 permanent jobs in the cultural/entertainment industry. The Sponsors will be partnering with workforce development programs such as Humanin and Paul’s Place Culinary Arts Program to identify individuals, especially formerly incarcerated persons, to recruit and train for permanent positions. Employees will have access to Safe Serv Certification and managerial training programs through these local nonprofit partners.

PROJECT HIGHLIGHTS Allocation Sought: $14 MM Total Development Costs: $18.7MM Anticipated NMTC Closing: Q2’ 2019 Completion Date: Q2’ 2020 Size: 160,000 SF Key Neighborhood Stats • Severely Distressed Census Tract o 50.5% Poverty Rate o 32.32% AMI • Opportunity Zone • Transit-Oriented Redevelopment

Community Impact The Sponsors have partnered with the Coppin Heights Community Development Corporation (“CHCDC”), a nonprofit serving the 19 neighborhoods surrounding the Project, to identify the key needs of local residents and to ensure they have access to the benefits of the Project. Such feedback will be continuously incorporated into how the Sponsors curate programming and job opportunities at the Project. Such input is reflected in the following: • Entrepreneurship: The Project will include an art gallery and artist incubator that creates new retail opportunities for the creative economy to scale their operations and to sell their goods and services. The Project will connect the artists with apprenticeship resources, such as the Goldman Sachs 10k Small Business Initiative that now focuses on Baltimore. • Environmental Sustainability and Historic Preservation: The historic Baltimore Ice Building has been vacant since 2004, and can easily be classified as a brownfield site. The redevelopment will address various environmental containments, such as asbestos and lead paint removal The Project will seek LEED Certification, and will include many green design elements including solar power generation, increasing amount of permeable surfaces on the property, and planting trees. • Catalytic Impact: The redevelopment will improve the surrounding ecosystem by turning the tide of blocks of vacant homes, lack of commercial development, and crime and safety. Once complete, the Project will create stability in the community that will encourage residential development to support the tenants of the artist incubator and homeownership for the Project’s full-time employees, and will attract Opportunity Zone financing to encourage small and medium-sized businesses to relocate to West Baltimore. • Transit-Oriented Development: The Project is directly across the street from the West Baltimore Marc Train Station and a central metro-bus depot. The Project will leverage its close proximity to the Marc Station to attract patrons coming from all points between Washington, DC and north of Baltimore via the Marc Train and Amtrak. The Project will compliment the proposed redevelopment of the Marc Train Station.

But For 
 The redevelopment of the Baltimore American Ice Building into a new entertainment and arts destination requires $14MM in NMTC allocation to underwrite the significant costs of the historic rehabilitation and to reduce the overall occupancy costs for the community event space and the artist incubator space. The tax credit subsidies provided by the NMTCs allow new retail and community serving amenities to be available to the residents of West Baltimore. This Project will be the catalyst to attract additional private and public sector redevelopment, thus ushering in a wholesale revitalization and upgrades to public transportation and other types of infrastructure improvements to West Baltimore. 


Dacha is a Washington DC-based restaurant group that specializes in place making and transforming underperforming real estate sites to epicenters of community life and activity. Dacha is committed to giving back to the communities where they do business. Whether it is through partnering with local businesses, hosting an event, in-kind donations, or volunteer work, they are working to improve their neighborhoods. Cross Street Partners is a vertically integrated real estate company exclusively focused on re-building communities by creating vibrant urban mixed-use neighborhoods built on a foundation of innovation and entrepreneurial activity.

DACHA


N E W M A R K E T S TA X C R E D I T O P P O RT U N I T Y

Beth Am Synagogue & Community Engagement Center 2501 EUTAW PLACE | BALTIMORE, MD 21217

DESCRIPTION On behalf of Beth Am Synagogue, a community-centric, faith-based institution, Cross Street Partners (CSP) is seeking $10MM in NMTC allocation for the restoration of its existing building to create a new Community Engagement Center. This 13,640 SF renovation will allow the synagogue to more effectively utilize its current facilities. Dating back to 1922, the current synagogue is an architectural gem, but has not seen substantial upgrades in decades. Due to the lack of proper ventilation, the stately sanctuary is all but unusable during the summer months. By installing an HVAC system and upgrading the sound system and lighting, Beth Am will be able to use the main sanctuary on a more regular basis, doubling the number of concurrent events and performances it can host on an annual basis. Additional renovations include a complete remodeling of the lower level community rooms which will include flexible walls allowing the large central room to be broken into smaller modules. This will allow multiple community meetings or events to happen simultaneously. The renovation will allow the following program areas which are not currently available:

A WEST BALTIMORE

INSTITUTE FOUNDED ON COMMUNITY ENGAGEMENT

• Community meeting space: New spaces will be available to the public for use as conference space and various community gatherings. • New 200 seat chapel: An intimate, lower-level chapel will be available for public events such as musical concerts, poetry, literature gatherings, and other related activities. • Flexible office space: Shared office and lounge space will be available to grassroots organizations and nonprofits that deliver community programming on site and in the surrounding community. Located in West Baltimore, this progressive institution serves as a community meeting place for people of all religious, ethnic, and cultural backgrounds and strives to be “in, for and of” its historically Jewish and majority African American neighborhood. Led by Rabbi Daniel Cotzin Burg, a visionary community leader responsible for the synagogue’s strategic engagement initiatives, Beth Am is nationally known for its community-based advocacy and grassroots involvement, philanthropic ventures, equitable neighborhood improvement efforts, and the creation of a sister nonprofit. This groundbreaking organization, In For and Of (IFO), promotes the softening of boundaries and deepening of cross-cultural relationships in the Reservoir Hill community.

For more information, please contact: Tabitha Atkins, Cross Street Partners tatkins@crossstpartners.com 443.577.4386 2400 Boston Street, Suite 404 Baltimore, MD 21224 crossstpartners.com


ANTICIPATED IMPROVEMENTS Renovations to the existing facilities will allow a more effective utilization of their space to accommodate the needs of the community and Beth Am’s congregants. These updates will include upgrades to the HVAC and AV systems, allowing year-round use of the main sanctuary for musical presentations, speaking engagements, and holiday programming. The lower level, already used as a polling place, community meeting space, and concert venue, will be renovated to create flexible multipurpose space that can become four classrooms. The room’s re-design will accommodate events from a few dozen up to 300 people.

PROJECT HIGHLIGHTS Allocation Sought: $10 MM Status: Under Construction Anticipated Closing: Q2 2019 Total Development Cost: $10MM Size: 13,640 SF

COMMUNITY BENEFITS Beth Am Synagogue’s dedication to the local community is unparalleled as shown in the dozens of programs, events, and outreach initiatives it hosts annually. The renovation of the current facilities will allow for an even greater level of community impact through successful initiatives such as: • Olam Ubuntu: A leadership development program for Jewish and African American youth that explores heritage and skills for leadership and civic engagement. • Mitzvah Day: Congregants and community members gather to assemble holiday dinner baskets for delivery into the neighborhood. • Construction of German Park playground: In 2011, Beth Am was a leading partner in mobilizing 350 volunteers to construct a brand-new playground around the corner. • Concert series: The synagogue hosted “Eutaw Place”, a concert venue that routinely attracted 70-150 attendees, as well as the Afro-Semitic Experience and Shades of Yale, musical groups that brought in 350 and 450 people respectively. • Neighborhood improvement and greening: The congregation regularly donates landscaping for community service projects, supplies to local elementary schools, and provides scholarships for children to attend local rec center summer camp programs. They have hosted resource and health fairs, fundraisers for the local urban farm, and its members regularly volunteer for various neighborhood projects

BUT FOR The current space was last upgraded nearly 40 years ago and suffers from functional and programmatic obsolescence, limiting Beth Am’s ability to fully implement its current programs and services. The lack of sufficient utilities prevents Beth Am from using its sanctuary during the summer months, limiting its use for community programs and meetings. Beth Am began essential improvements in January to complete construction before High Holy Days in fall 2019. However, rising construction costs and unanticipated challenges have limited the extent of renovations to the historic building. $10MM in NMTC allocation will underwrite window restoration, kitchen equipment, security measures, and other much needed improvements to ensure that Beth Am continues to operate as a center of the Reservoir Hill community for decades to come.

Cross Street Partners is a vertically integrated real estate company exclusively focused on re-building communities by creating vibrant urban mixed-use neighborhoods built on a foundation of innovation and entrepreneurial activity.


CONTACT Tabitha Atkins, VP UACD tatkins@crossstpartners.com 443.577.4386 Cross Street Partners 2400 Boston Street, Suite 404 | Baltimore, MD 21224 crossstpartners.com | uacdcde.com

Profile for crossstpartners

Cross Street Partners / UACD 2019 Pipeline  

a summary of opportunities available for NMTC

Cross Street Partners / UACD 2019 Pipeline  

a summary of opportunities available for NMTC