The City of Middletown, NY sought to redevelop the historic O&W Railroad Station, an iconic 130-yr old structure which had fallen into disrepair after sitting abandoned for multiple decades. Grow was engaged to assist in structuring the capital stack for this ambitious project, with the primary goal of pursuing New Market Tax Credits and Historic Tax Credits. Over two years Grow worked with City leadership, including the Offices of the Mayor and Economic Development, to finalize a viable development strategy to support the rehab of the building into the regional HQ for RECAP, a regional nonprofit dedicated to early childhood education. Grow successfully closed on $12MM in NMTC allocation as well as coordinating investment for over $13MM of Federal and NY State Historic Tax Credits. In total, Grow delivered over $12MM of tax credit equity to the project, allowing the City to turn a delapidated eyesore into a critical community asset.

Shearer’s Foods, one of the largest snack and chip manufacturing companies in the US, engaged Grow to pursue New Markets Tax Credits in support of their new 389,000 SF manufacturing facility in Moraine, OH that would create hundreds of much-needed jobs for the region. Grow successfully identified and closed $12.5MM of allocation from the Dayton Regional New Market Fund and structured the closing to permit additional allocation to be brought into the deal at a later date.