Cleveland New Markets Investment Fund II (“Cleveland New Markets”) will use 100% of a NMTC Allocation to provide subordinate loans and equity to catalyze revitalization projects in the urban core and surrounding neighborhoods of Cleveland, Ohio. Cleveland New Markets will make investments in commercial and mixed-use real estate projects to finance development of office space, live/work space aimed at the creative arts industry, hospitality space, neighborhood retail centers and medical research and developments projects. With its NMTC allocation, Cleveland New Markets will be able to offer loans with interest rates generally 500-700 basis points below conventional subordinate/mezzanine debt found in the marketplace.