Successful Investment in Distressed Areas

The New Markets Tax Credit Coalition released its 2022 New Markets Tax Credit (NMTC) Progress Report, providing policymakers and practitioners with the latest trends and successes of the NMTC. The report was prepared by the NMTC Coalition, a national membership organization of Community Development Entities (CDEs) and investors organized to advocate on behalf of the NMTC. The NMTC Coalition brings together community development professionals, the nation’s leading experts on tax-advantaged community development investments and investors all committed to the success of the NMTC.

Read The Fresno Bee article, “ Progress starts with Black-run organizations that help Black-owned businesses .”

Established to identify reform recommendations around making Fresno a better, safer place for all, the commission’s work aligns with Central Valley NMTC’s focus on transforming economically disadvantaged neighborhoods throughout the Central Valley. Congratulations to Central Valley’s NMTC President/CEO Oliver Baines on his appointment to lead this important work. Read City of Fresno media release: https://www.fresno.gov/news/mayor-city-council-announce-members-of-new-police-reform-commission/ 

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.