St. John’s Bread & Life
St. John’s Bread & Life, the largest emergency food provider in Brooklyn, New York, moved into a permanent a facility thanks, in part, to a New Markets Tax Credit allocation from LIIF. The transaction included an equity investment by JPMorgan Chase. The new facility includes a restaurant-style dining area, a “client-choice” food pantry system, and more space to streamline the process of storage, loading and distribution of food for the Mobile Soup Kitchen. The expansion allowed St. John’s Bread & Life increase the meals it serves by 40%. In addition to food, St. John’s Bread & Life provides financial education, medical and psychological assistance, and social and legal services. The new building contains a classroom, library, computer lab, medical exam room and office, chapel, and garage for these sevices.
Project Details
- Impact
- 2,000 people served annually
450,000 meals served annually - Financing
- $7 million New Markets Tax Credit transaction with an equity investment from Chase
$3.5 million construction and permanent financing - Partners
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- Chase
More Information
New Markets Tax Credits
