NMR's financing takes the form of low interest rate loans and soft equity investments, which can save the borrower or property owner 25% or more of the amount of the financing over the seven year term of the investment.
The financing is available only to projects that would not happen - that would not be economically feasible - without the low cost financing provided by this program. Projects that make use of other forms of assistance, in the form of city, state, or federal funding, or foundation or donor support, are considered favorably by NMR. NMR will fund construction and redevelopment costs, but not property acquisition costs.
NMR's low cost financing is possible because of the federal New Markets Tax Credit program. Since we received our first allocation of New Markets Tax Credits in 2005, NMR has made $157,000,000 of investments in downtown or near-downtown Oklahoma City, Tulsa, and Lawton. NMR has received five allocations in the 2005, 2008 ARRA, 2009, 2013 and 2014 rounds. These allocations are now fully invested in qualifying projects.