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Council approves $9 million NMTC transaction to expand Strong Start Academy at Tony Hsieh Education Center
Summary
The council approved two resolutions to authorize New Markets Tax Credit (NMTC) transaction documents and a cooperative grant agreement to support a classroom expansion at Strong Start Academy at the Tony Hsieh Education Center. City staff described the project and noted LVCIC and US Bank roles as investor and CDE.
The City Council voted to approve two related resolutions authorizing New Markets Tax Credit (NMTC) transaction documents and a cooperative grant agreement to support an expansion of Strong Start Academy at the Tony Hsieh Education Center, 320 South Ninth Street.
Zena Babsky, Director of Economic and Urban Development, told the council the project is part of the city’s work with the Las Vegas Community Investment Corporation (LVCIC), a certified community development entity that received a $60 million NMTC allocation in the prior cycle. Babsky described…
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