Cleveland New Markets Investment Fund
The Cleveland New Markets Investment Fund (“CNMIF”) was a $15 million first round allocation recipient of the New Markets Tax Credit (NMTC) Program.
Thus far, the fund's investments have resulted in the creation of business incubators, urban retail centers, office space to ensure local firms remained in Northeast Ohio, workspace for two essential social service agencies, commercial and retail redevelopment along Euclid Avenue, and a number of other neighborhood redevelopment projects. To date the fund has invested nearly $10 million while leveraging an additional $73 million in financing for the following projects:
Battery Park Powerhouse
The Avenue District
Corner Alley
The Higbee Building
Nottingham Spirk Innovation Center
Charter One Global Enterprise Center
Arbor Park Place
Shaker Square Shopping Center
House of Blues
Van Roy Building
Human Arc Headquarters