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M&I New Markets Fund, LLC
Milwaukee WICDFI Awards for M&I New Markets Fund, LLC
NMTC (2009) - $40,000,000
M&I New Markets Fund, LLC (M&I) will use its NMTC allocation to make loans to and purchase loans from other CDEs in low-income communities; and to support the development of office, industrial, retail, residential, mixed-use and community facilities. The NMTC allocation will allow M&I to target areas of high distress by offering more flexible products. With its allocation, M&I intends to offer below-market loans that are 300 to 450 basis points lower than the market rate, zero fee loans, interest-only payments, loan-to-value ratios as high as 100 percent, amortization periods that can extend beyond 30 years, and debt service coverage ratios as low as 1:1.
NMTC (2006) - $75,000,000
M&I New Markets Fund, LLC (M&I) will use its NMTC allocation to make loans to and purchase loans from other CDEs in low-income communities; and to support the development of office, industrial, retail, residential, mixed-use and community facilities. The NMTC allocation will allow M&I to target areas of high distress by offering more flexible products. With its allocation, the Applicant intends to offer below-market loans that are 300 to 450 basis points lower than the market rate, zero fee loans, interest only payments, loan to value ratios as high as 100%, amortization periods that can extend beyond 30 years, and debt service coverage ratios as low as 1:1
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