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TUFF Partners with ROSALIND FRANKLIN UNIVERSITY Securing $2.5 Million in New Markets Tax Credits: Funds Will Help Create Jobs and Provide Opportunities for Underserved Communities

By January 28, 2019 February 20th, 2019 No Comments

TUFF works diligently to identify and incorporate creative financial resources that ultimately lead to the lowest cost of occupancy for our University clients. In partnership with Rosalind Franklin University of Medicine and Science (RFU), TUFF has successfully secured $2,500,000 New Markets Tax Credit (NMTC) funding for the new Innovation and Research Park currently under construction on the RFU campus in North Chicago. In addition to supporting construction of the facility, RFU intends to use a portion of the NMTC funds for community initiatives, including the development of bioscience-related job training and internship opportunities, an expansion of its efforts to provide health services to the uninsured, and mentoring and educational pathways for underserved students. “Leveraging diverse capital sources is one of the many ways TUFF brings value to our university partners,” said TUFF President Kevin Byrne. “Rosalind Franklin University’s receipt of new markets tax credits is an important achievement. It speaks to the excellence of their plan for the Innovation and Research Park, their ability to meet the NMTC’s stringent eligibility requirements and their strong commitment to their community.” Read more about this critical investment in education and research at RFU.