BandWith
We secured and closed $25 million in NMTC financing to help transform a vacant casket factory on Chicago's West Side into a community hub for low-income youth.
BandWith
NMTC for Projects
Chicago, IL
BandWith is a nonprofit, working to reduce violence and improve life outcomes for low-income youth by providing music education, workforce development and supportive services. We secured and structured $25 million in combined federal and state NMTC allocation to fund the redevelopment of a 25,000-SF former casket factory into a permanent community hub. The building features rehearsal and practice spaces, a state-of-the-art recording studio, a music library, nonprofit office space, community gathering space, and a coffee shop filling a commercial need for the neighborhood.
Work Completed
Structured the overall NMTC transaction
Secured the maximum possible federal and state NMTC allocation
Secured a PRI loan from a foundation to provide vital low-cost leverage debt integral to the deal structure
Integrated NMTC financing with a City of Chicago redevelopment agreement
Prepared a compelling impact and marketing summary highlighting community benefits
Managed the financial closing process and supported the organization through the post-closing phase
Results
The project broke ground in October 2024 and completed construction in late 2025.
Featured Impact Numbers
25,000 SF
Facility size
300
Youth served annually
131%
Increase in programming capacity