Since 2005, Great Lakes Capital Fund has been involved in New Markets Tax Credits. We’ve served as a primary consultant for the Michigan Magnet Fund which channeled $60 million of NMTC investment to support key developments across the state of Michigan creating and/or retaining 3200 jobs and supporting $400 million in development activity that created 235 housing units and 1 million sq. ft. of commercial space.

Michigan Magnet Fund Project Narratives and Photos

Michigan Magnet Fund GLCF Manager Info

Great Lakes Capital Fund serves as the fund manager and compliance specialist for the Michigan Magnet Fund.

Image Source: www.mmf1.org

In 2009, Michigan Magnet Fund received another $60 million NMTC allocation and Great Lakes Capital Fund received a $28 million NMTC allocation. Our subsidiary, CapFund New Markets LLC will target its investments to projects in Illinois, Indiana, Michigan or Wisconsin. We’ll focus on high priority community development initiatives in NMTC eligible Census Tracts that need $5-10 million in gap financing and that provide: good jobs, services for low-income residents, renewable/alternative energy features and/or LEED-certified construction.

Access Preliminary Application for a NMTC Investment