New Markets Tax Credit Investments
UGM ShelterCoeur d'Alene, ID
CityScape Capital Group assembled the key tax credit equity financing for the $9.4 million construction of a 26,000 sqft Women and Children's Shelter located at 196 W. Haycraft Avenue in Coer d'Alene, ID.
Union Gospel Mission, a 501(c)(3) charitable organization, has successfully completed the 3-story shelter which provides 40 units of temporary and transitional housing, as well as support services, for homeless women and children in Northern Idaho. It is estimated that the project will create over 110 temporary construction jobs and more than 14 new full-time permanent jobs in a census tract with 13.2% unemployment rate.
The UGM Women and Children's Shelter provides food, clothing and shelter without charge to women and children in Northern Idaho. The main shelter building includes a kitchen, dining room, medical clinic, chapel, classrooms, computer lab and child care center. In addition, the Union Gospel Mission also provides individual and group counseling, classes, vocational training, and addiction recovery lasting approximately 18 months. The UGM Women and Children's Shelter project in Coer d'Alene, ID mirrors similar successful shelters that are located in Spokane, WA and currently run by the Union Gospel Mission.