New Markets Tax Credit Investments
Second HarvestOrlando, FL
CityScape Capital Group assembled the key tax credit equity financing for the $15 million development of the Second Harvest Food Bank Distribution Center located at Mercy Drive and Old Winter Garden Road in Orlando, FL.
To support its mission of collecting and distributing donated food to more than 500 nonprofit partner agencies throughout six Central Florida counties, Second Harvest Food Bank of Central Florida, a 501(c)(3) nonprofit organization, is constructing a new 100,000 sqft Food Bank Distribution Center in West Orlando, FL, which will replace its existing antiquated facilities. It is estimated that the project will create over 200 temporary construction jobs and more than 9 new full-time permanent jobs in a census tract with 10.1% unemployment rate.
By increasing cooler space by 400%, freezer space by 330%, and overall operating space by 150%, the new facility cheap replica Rolex Day Date 4 0watches will allow Second Harvest to dramatically increase its food storage and distribution capabilities and, in turn, provide more food to thousands of people in Central Florida who rely on Second Harvest and its community partners. Currently, over 3 million pounds of available food donations are turned away at the existing facility each year due to inadequate storage space with much of the rejected food items being highly nutritious, perishable food such as fruits and vegetables. By increasing the overall space of the distribution facility to 100,000 sqft, the Second Harvest Food Bank will be able to store and distribute millions of additional pounds of food per year to residents of Central Florida, and in addition, store and distribute a greater percentage of perishable items with higher nutritional content. Put into different terms, the expansion will allow more than 1,000,000 additional meals to be served to children annually.