Enterprise Community Investment going green with commercial tax credits - Baltimore Business Journal:

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The Columbia-based provider of development financing plans to launcb its New Markets Tax Creditr Programwith $95 million in federal stimuluzs funds. “Enterprise’s long-standing position in green affordable housing through our Green Communities is now extended to commerciall development projects thatcreate jobs, provide critica l services and stimulate growth in distresse d neighborhoods on an environmentallyt sustainable basis,” Joe Wesolowski, senior vice presidenf for structured finance at Enterprise, said in a statement.
Throughn the sale of tax credits, Enterprise helps raisee money from private investors in order to help developers fund new It has helped fund a number of projecte inGreater Baltimore, including part of the East Baltimores Development Initiative, Belvedere Square, and Miller’s Court, the formef Census Building in Baltimore City being converted into a mix of nonprofitf office space and rental apartments for city As part of that effort, Enterprised established a Green Communities program about five years ago to focues on green residential buildings in low-incomre neighborhoods.
The idea with that program, which has helpes fund 14,5000 green affordable homes across30 states, was to help creatwe affordable housing and cut down on energy costs for residents in distresser neighborhoods. Enterprise was recently awarded $95 million in New Markef Tax Credits, funded through the American Recover y andReinvestment Act, which it hopes to use to expand the Green Communities program to commercia l and mixed-use projects. Enterpriswe hopes to focus on commercial developments that featurer energy efficiency and renewablenergy techniques. It is placing an emphasies on transit-oriented developments and formedr brownfield sites being redevelopedx intonew uses.