Open Avenues Builds New Headquarters With Assistance of New Market Tax Credits

Open Avenues, a 501(c) that fosters independent living and work skills for disabled adults, has constructed a new headquarters in Rogers, AR with the assistance of the Heartland Renaissance Fund (HRF) and the New Market Tax Credit (NMTC) Program. The new building serves as the headquarters as well as the life skills facility for Open Avenues. Aiming to provide opportunities for a more fulfilling life for its participants, Open Avenues offers instruction in daily living skills, employment skills training, and offers job placement services to their clients. By partnering with Heartland Renaissance Fund and utilizing the New Market Tax Credit Program, Open Avenues was able to expand to a larger facility providing a better service to their participants. The New Markets Tax Credit (NMTC) Program was established in 2000 as part of the Community Renewal Tax Relief Act. The goal of the program is to spur revitalization efforts of low-income and other communities underserved by traditional capital across the United States and Territories. The NMTC Program provides tax credit incentives to investors for equity investments in certified Community Development Entities, such as Heartland Renaissance, which invest in low-income communities and projects.