North Central Farmers Elevator - Bowdle SD
NMTC Allocation Utilized: $10M
Total Project Size: $11.6 M
Date Closed: February 14, 2007
NMTC Allocation Utilized: $5.6M
Total Project Size: $5.6 M
Date Closed: February 15, 2008
North Central Farmers Elevator's West Bowdle Grain Terminal is a vital community project serving the agricultural economy in this droughtstressed area of north central South Dakota and south central North Dakota. Dakotas America used two allocations of $10 million and $5.6 million dollars for a highly complex levered New Markets Tax Credit (NMTC) structure, producing critical capital that was used to offset reduced revenues caused by the drought and allowing the project to proceed.
"Dakotas America and the
New Markets Tax Credit is an excellent way to have economic development in rural areas," said Keith Hainy, General Manager of North Central Farmers Elevator. "We appreciate all the time and effort from everyone at Dakotas
America."