New Markets Tax Credits financing was used to finance a significant expansion project for the Georgia Aquarium in 2010. AEMI’s financing allowed the organization to stretch its debt capacity during a perilous recessionary period that had impacted capital campaign progress and attendance, thus helping to stabilize a key Atlanta educational and cultural asset. As part of the transaction’s community benefits agreement, the Aquarium offers free admission to students who receive free/reduced lunches or attend Title I schools. Over 33,000 students visited through these programs during the last school year.
Investor: Wells Fargo
program: New Markets Tax Credits