Paul Quinn College (2018)
Paul Quinn College, the creator of the Urban Work College Model and one of the nation's most innovative colleges, broke ground on its first new building on campus in 40 years, financed with New Market Tax Credits through the Texas Mezzanine Fund.
The Texas Mezzanine Fund (TMF), a Community Development Financial Institution and Community Development Entity promoting economic growth in low and moderate-income communities throughout Texas, has allocated $11.5 million of its $75 million in new market tax credits to the project. The New Markets Tax Credit (NMTC) Program is a federal tax credit program that is designed to stimulate commercial investment in low-income communities. Through TMF’s NMTC program, it is able to provide low-cost, flexible capital to support large-scale capital investment in low-income census tracts throughout Texas. Partners in the new market tax credits from TMF include PNC Bank, Butler Snow, and Renaissance Capital Partners.
ABOUT PAUL QUINN COLLEGE
Paul Quinn College, one of the most innovative small colleges in America, is a private, faith-based, four-year, liberal arts-inspired college that was founded on April 4, 1872 by a group of African Methodist Episcopal Church preachers in Austin, Texas. The school’s original purpose was to educate freed slaves and their offspring. Today, Paul Quinn has become a model for urban higher education by focusing on academic rigor, experiential learning, and entrepreneurship. The College proudly educates students of all races and socio-economic classes under the banner of its institutional ethos, WE over Me. Its mission is to provide a quality, faith-based education that addresses the academic, social, and Christian development of its students. The College’s president, Michael Sorrell, was recently named one of Fortune magazine's World’s 50 Greatest Leaders and the HBCU Male President of the Year by HBCU Digest for a record third time.
For more information on enrollment in either the Plano or Dallas campus or for how to partner with Paul Quinn College, please visit http://www.pqc.edu/.
INVESTMENT
TOTAL PROJECT COST: $11.5 MILLION
NMTC AMOUNT: $11.5 MILLION
IMPACT
75 FTE JOBS: 134 PART-TIME JOBS FOR STUDENTS & 8 FULL-TIME FACILITY JOBS
185 CONSTRUCTION JOBS
40,000 SF OF REAL ESTATE
PARTNERS
CHASE BANK