First Horizon Bank, Catholic Charities, and AltCap Partner on $25 Million Family Opportunity Center
First Horizon Bank (NYSE: FHN), Catholic Charities of the Archdiocese of Galveston-Houston, and AltCap have announced a partnership to fund a new 60,000-square-foot Family Opportunity Center in north Houston. The project utilizes New Markets Tax Credits (NMTC) to facilitate an innovative financing structure for the $25 million facility. The center is designed to serve low-income residents by providing a market-style food pantry, thrift store, mental health counseling, and job readiness resources. It will also function as a community hub for first responders during natural disasters. The project marks AltCap's first NMTC investment in Texas.
Tickers: $FHN
Topics: Community Development Financing New Markets Tax Credits Nonprofit Partnership