4Roots Secures New Market Tax CreditsApril 2022
ORLANDO, Fla. – [April 25, 2022] – 4Roots is pleased to announce they have
successfully closed on $2,740,000 of New Markets Tax Credits (NMTCs) for
construction of its 4Roots Campus in The Packing District.
The New Markets Tax Credit Program is a federal incentive program that attracts
private capital into low-income communities by permitting individual and corporate
investors to receive a tax credit against their federal income tax in exchange for making
equity investments in specialized financial intermediaries called Community
Development Entities (CDEs).
“We are grateful for the remarkable blessing these funds will provide through our
4Roots Campus,” said 4Roots CFO, Jim Bruce. “Our dedication to building healthy
communities through education, health & wellness, economic development, and
sustainability is the heart of our work and it is exciting to see us one step closer to
sharing that with the community.”
4Roots partnered with the Community Development Entity’s (CDE’s) below for a total of
$16,750,000 tax credit allocation:
· Black Business Investment Fund, Inc. – $6,750,000
· Royal Bank of Canada (RBC) Community Development, LLC – $5,000,000
· City Scape Capital Group Community Partners, LLC – $5,000,000
The $16,750,000 tax credit allocation represents a net benefit to 4Roots of $2,470,000.
4Roots is dedicated to unearthing the power of food to build healthy communities. By
engaging the community to think more deeply about where and how food is grown, and
why it matters, 4Roots aims to restore and maintain the delicate balance between
people and the planet.
The 4Roots Campus will be located in The Packing District, an emerging neighborhood
in the heart of Orlando. It will invite the community to gather and collaborate on the
creation of a strong local food system. Featuring a diverse range of growing systems, it
will offer a unique hands-on learning experience that highlights innovative and
sustainable practices and technologies from around the world.