Curated News
By: NewsRamp Editorial Staff
September 10, 2026
CAHEC New Markets Allocates $40M to Boost Education, Housing, and Healthcare
TLDR
- CAHEC New Markets allocated $40 million in NMTC to three projects, gaining tax credits and community impact across Florida, Tennessee, and North Carolina.
- CAHEC New Markets uses NMTC allocations to finance community projects, attracting private investment to low-income areas and creating jobs and services.
- CAHEC New Markets' $40 million NMTC investment expands early education, affordable housing, healthcare, and community services, improving lives for thousands in need.
- CAHEC New Markets funded a new early learning campus, a 70-acre community redevelopment, and a critical access hospital with $40 million in NMTC allocations.
Impact - Why it Matters
This news matters because it demonstrates how targeted tax credit financing can address critical gaps in early education, affordable housing, and rural healthcare—issues that directly affect vulnerable populations. By funding projects that serve predominantly low-income communities, CAHEC New Markets is helping to break cycles of poverty and improve quality of life. The investments not only create jobs and stimulate local economies but also expand access to essential services that many take for granted. For residents in these regions, the new facilities mean better educational opportunities for children, safer and more supportive housing, and lifesaving medical care closer to home. Moreover, the collaboration between public and private entities showcases a sustainable model for community development that can be replicated nationwide, ultimately fostering more equitable and resilient communities.
Summary
CAHEC New Markets, a New Markets Tax Credit (NMTC) Community Development Entity, has announced $40 million in NMTC allocation to three transformative projects across Florida, Tennessee, and North Carolina. The investments aim to expand early childhood education, community services, and rural healthcare access in underserved areas. The first allocation of $11 million supports Childcare Resources in building a new early learning campus and resource hub in Vero Beach, Florida. This campus will replace a leased facility, increase capacity by 36%, and serve 200 students annually—85% of whom are low-income—while also providing a professional development incubator for 300 educators and creating 13 new jobs.
The second investment of $15 million goes to Knoxville's Community Development Corporation (KCDC) for the Transforming Western Heights plan, a 70-acre HUD Choice Neighborhood development. This project includes over 700 affordable and mixed-income housing units, a expanded Boys & Girls Club, a University of Tennessee Medical Center primary care clinic, and a new Connections Building housing Real Good Kitchen and Junior Achievement's Entrepreneurship Center. It is expected to serve 6,000 community members annually and create 105 construction and 40 permanent jobs. The third allocation of $14 million supports FirstHealth of the Carolinas' construction of a new critical access hospital in Troy, North Carolina, replacing the aging Montgomery Memorial Hospital. This state-of-the-art facility will serve approximately 14,000 patients annually, create 166 construction jobs, and retain 136 full-time positions. Brian Oxford, CAHEC's Director of Community Capital, emphasized the deep community roots of these organizations and the role of NMTC financing in realizing their visions. The NMTC program stimulates economic development in low-income communities by attracting private investment. To learn more, visit CAHEC New Markets' website.
Source Statement
This curated news summary relied on content distributed by 24-7 Press Release. Read the original source here, CAHEC New Markets Allocates $40M to Boost Education, Housing, and Healthcare
