Enhanced Community Development, LLC (ECD), a subsidiary of Enhanced Capital, is pleased to announce the closing of a $30 Million Louisiana New Markets Tax Credits (LA NMTC) allocation from the Louisiana New Markets Jobs Premium Tax Credit program, administered by the Louisiana Department of Revenue. This allocation is part of the state's ongoing initiative to stimulate economic growth and create jobs in underserved areas throughout Louisiana.

"Louisiana is home to one of Enhanced Capital’s two headquarters, and we are proud to support the local communities that we are deeply connected to,” said Catherine Blume, Vice President at Enhanced Capital. "This allocation enabled us to help drive transformative change through neighborhood revitalization, job creation, and essential services for residents in low-income areas."

ECD, a designated Community Development Entity (CDE), focuses on bringing capital to underfunded communities to generate economic development and create lasting positive impacts. This $30 million allocation, received in September 2023, was instrumental in supporting financing for six high-impact projects across Louisiana, including a community health center and two affordable early learning centers located in low-income census tracts.

St. Thomas Community Health Center
St. Thomas Community Health Center delivers high-quality healthcare to all, regardless of the ability to pay. Their mission focuses on reducing health disparities and improving health initiatives for underserved New Orleans communities through community-centered care, strong partnerships, and sustainable healthcare innovation. With support in part from ECD, St. Thomas CHC acquired, rehabilitated, and equipped two vacant properties into Federally Qualified Health Clinics (FQHC). The facilities are expected to serve 12,480 patients annually, with 73% of these individuals anticipated to be low-income, offering critical healthcare services to the community.

Louisiana Avenue Firehouse
The Louisiana Avenue Firehouse project in New Orleans involves the redevelopment of a historic firehouse in Central City into a mixed-use property that includes affordable housing and an early childhood education center. Financing provided in part by ECD will help create thirteen jobs, seven affordable apartments, and a childcare facility that will serve up to 64 students. This initiative provides critical education to low-income families and marks a milestone for the City of New Orleans, representing the city’s first lease of a vacant property to the New Orleans Redevelopment Authority (NORA) under a cooperative endeavor agreement to return public properties to active use.

Wilcox Academy
Wilcox Academy, a Black woman-owned early childhood education business founded by Rochelle Wilcox in 2006, is another transformative project financed by ECD. With ECD’s assistance, Wilcox Academy will redevelop two long-vacant brownfield sites in a historically significant New Orleans neighborhood into energy-efficient, state-of-the-art facilities. The Central City project will provide early childhood education for up to 144 children, the large majority of which will be low-income students supported through state and local funding. Additionally, the development will include four affordable apartments targeted to educators, addressing both educational and housing needs while creating and retaining 30 jobs in the community.

ECD remains committed to advancing meaningful change through investments that deliver essential services, job creation, and economic revitalization in distressed areas. Through this $30 million allocation, ECD continues to strengthen communities across Louisiana, ensuring that low-income populations have access to services such as healthcare, education, and affordable housing.