The National Trust Community Investment Corporation (NTCIC) announced its 200th tax credit investment to support the restoration of the Huntington Theatre in Boston, MA. NTCIC said in the announcement that the $50 million revitalization will enable the theater to address long-deferred maintenance, provide additional accessible accommodations, expand community programming and produce additional performances annually once it reopens. NTCIC said it provided critical capital sources for the project, including $7 million in New Markets Tax Credit (NMTC) allocation and equity generated from the project’s $9.5 million in federal Historic Tax Credits (HTC).
“COVID has impacted so many industries across the country, particularly the arts,” NTCIC Acquisitions Manager Amanda Bloomberg said. “Financing the Huntington restoration while the doors are temporarily closed will allow the Huntington to come back more impactful than ever when it reopens.”
