Renovations Taking Place at Arkansas Baptist College

A groundbreaking was held today at Arkansas Baptist College in Little Rock to kick off the renovation and expansion to be completed at the college with the assistance of New Market Tax Credit financing from Heartland Renaissance Fund LLC. The tax credits are being used to renovate Old Main, and to construct new residential facilities, classroom space, and a dining facility. The renovations and addition to the campus are part of an effort to revitalize the community and create a more traditional college experience for the students of Arkansas Baptist College. A short time ago, students were being housed in motels and were shuttled back and forth to campus. Some classes were even being held at a local middle school. The addition of the classroom space and residential and dining facilities will help foster a more typical college experience and will enhance the educational opportunities for students. The New Markets Tax Credit (NMTC) Program was established in 2000 as part of the Community Renewal Tax Relief Act. The goal of the program is to spur revitalization efforts of low-income and other communities underserved by traditional capital across the United States and Territories. The NMTC Program provides tax credit incentives to investors for equity investments in certified Community Development Entities,