Central Valley NMTC Fund, LLC Announces Appointment of New President/CEO

Fresno, CA • May 1, 2019

Oliver Baines is a 25-year resident of Fresno with an extensive record of community service. His professional career began in law enforcement as a police officer for the Fresno Police Department.


During his 11 years as a Fresno Police officer, he was a highly decorated officer, receiving two Life-Saving Medals, 2008 Officer of The Year recognition, Chief’s Commendations, and multiple Peer Commendations. Mr. Baines’ experience in community policing caused him to run and become a Councilmember for the City of Fresno, representing District 3 from 2011 to 2019.


During this time as Councilmember, he was active in many programs addressing the economic, social, and environmental problems afflicting Fresno, including the Workforce Investment Board, the Fresno Works, the San Joaquin Valley Air Board District, the Successor Agency to the Redevelopment Agency of the City of Fresno, along with numerous community-based programs. Mr. Baines became involved in workforce development programs. He founded the Valley Apprenticeship Connections (VAC). This workforce development program focuses on preparing young men and women from the most challenged neighborhoods to serve populations in the Fresno Region for a career in the Construction Trades. Since 2016, the VAC has had 339 students enrolled, 250 completed (73 percent), with 196 gaining employment (78 percent) with wages averaging over $20/hour, and 185 students (94 percent) retaining their employment.

The 73 CDEs receiving awards today were selected from a pool of 230 applicants that requested an aggregate total of $16.2 billion in tax credit allocation authority. The award recipients are headquartered in 29 different states, Guam, and the District of Columbia. It is estimated that these award recipients will make more than $685 million in New Markets Tax Credit investments in non-metropolitan counties.

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Today’s announcement brings the total amount awarded through the NMTC Program to $54 billion. Historically, NMTC Program awards have generated $8 of private investment for every $1 invested by the federal government. Through the end of fiscal year 2016, the most recent data available, NMTC Program award recipients deployed more than $44.4 billion in investments in low-income communities and businesses; with impacts such as the creation or retention of nearly 750,000 jobs, and the construction or rehabilitation of more than 190 million square feet of commercial real estate.


See the Award Book: Final-2017-NMTC-Award-Book-v4-021218.pdf

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