New Markets Tax Credits
Wiggin Properties' New Markets Redevelopment (NMR) division uses federal New Markets Tax Credit (NMTC) allocations to provide low cost financing for real estate construction and redevelopment projects in downtown and near-downtown Oklahoma City and Tulsa. The projects we select demonstrate both the promise of exceptional benefits for low income communities and an expected catalytic impact on further investment in the immediate and surrounding area.
Our 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.
Since receiving our first allocation of New Markets Tax Credits in 2005, NMR has invested $157 million in downtown or near-downtown Oklahoma City, Tulsa, and Lawton.To learn more, visit New Markets Redevelopment's website.