LADF Allocation $10,000,000
Total NMTC Funding $49,700,000
Total Project Cost $49,700,000
Permanent Jobs Retained - 101
Permanent Jobs Created - 65
Construction Jobs Created - 116
Square Footage rehabbed - 422,000
This project entailed the rehabilitation of an existing facility that is owned and operated by Dream Center in the Echo Park Neighborhood, a low-income community within the City of Los Angeles.
The sponsor offers over 40 services to low-income individuals through its onsite and offsite outreaches, which help address issues relating to homelessness, addiction, human trafficking, hunger and poverty.
Founded in 1994, the Dream Center is a volunteer driven organization that finds and fills the needs of over 50,000 individuals and families each month.
We understand that DOGE is at the Treasury Department and that they have ordered the cancellation of several hundred contracts, including contracts to evaluate the NMTC application (the round that just closed) as well as contracts to evaluate applications for the CDFI FA/TA and NACA programs.
This poses a real and immediate threat to the CDFI Fund and the critical programs it supports. Please contact your members of Congress - particularly Republicans - and ask them to weigh in with Treasury Secretary Bessent in support of preserving the CDFI Fund.
We will continue to monitor the situation closely and provide updates as we learn more.
