A portion of a $7.5 billion community development loan program from TD Bank will support the construction of a new home for Safe Harbor of Greenville.
TD Bank N.A. and the TD Community Development Corp. announced a $2 million New Markets Tax Credits allocation and a $5.99 million tax equity investment to fund a new shelter for victims of domestic violence operated by Safe Harbor , according to a news release.
Greenville developer M Peters Group is building the 45,000-square-foot facility.
Additional funders include a $10 million NMTC allocation from SC Community Loan Fund and a $6.5 million NMTC allocation from The Innovate Fund, the release stated.
The center will include a restorative shelter and co-locate Safe Harbor’s existing support services currently spread across multiple buildings throughout the area, and increase Safe Harbor’s annual capacity from 275 to 375 individuals served, according to the release. Construction is expected to be complete in April 2025.
“The construction of our 45,000-square-foot new shelter facility not only will triple our capacity and put all of our services under one roof, but also will allow the colocation of partner agencies that serve our clients, thereby facilitating their recovery and healing,” Danny Varat, CEO of Safe Harbor, said in the release. “It will be the only one of its kind in South Carolina and one of the few in the United States. We truly appreciate M Peters Group, TD Bank, the SC Community Loan Fund and The Innovate Fund, which made this unique and transformative project possible.”
Safe Harbor is a non-profit offering services for survivors of domestic violence and their children in Greenville, Anderson, Pickens and Oconee counties. Its services include a 24/7 help line, emergency shelters, counseling, case management, transitional housing, parenting classes, group support and more.
“TD is proud to collaborate with these organizations to support the development of Safe Harbor’s new, comprehensive facility for vulnerable community members,” Will Richter, relationship manager, TD Community Development Corp., said in the release.
TD Bank recently introduced its three-year, $20 billion Community Impact Plan, a blueprint for providing underserved communities and populations with banking products, services and overall support to help expand economic opportunity and stability to all. A core component of the Community Impact Plan is providing an estimated $7.5 billion in community development lending and investment, and the Safe Harbor project represents one of the bank’s first commitments in this area, the release said.
The Innovate Fund is a Community Development Entity that uses NMTCs to serve communities in Georgia, North Carolina, South Carolina, Tennessee, Virginia and West Virginia. TIF has received $288 million in New Market Tax Credits to support its mission of transforming communities through the creation of quality jobs and improvement of health and wellness outcomes for the region’s low-income residents.
SCCLF is a nonprofit Community Development Financial Institution focused on advancing equitable access to capital. Since 2004, the SCCLF has provided more than $94.3 million in lending on community development projects throughout South Carolina. SCCLF has received $85 million in NMTCs allocation since 2018.
TD Community Development Corp. is a certified Community Development Entity and wholly-owned subsidiary of TD Bank N.A.
Safe Harbor provides pathways for people impacted by domestic abuse to survive and thrive and raises awareness of domestic abuse through community engagement and education.
More information is available at www.safeharborsc.org.
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