GREENVILLE, S.C., June 17, 2024 – TD Bank, N.A., today announced that it and the TD Community Development Corporation (TDCDC), a wholly-owned subsidiary, together provided a $2 million New Markets Tax Credits (NMTC) allocation and a $5.99 million tax equity investment to fund a new shelter for victims of domestic violence operated by Safe Harbor of Greenville, South Carolina.
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 M Peters Group is developing the new 45,722-square-foot center, which will include a restorative shelter and co-locate Safe Harbor's existing support services currently spread across multiple buildings throughout the area. The new building will increase Safe Harbor's annual capacity from 275 to 375 individuals served. 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," said Danny Varat, CEO of Safe Harbor. "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 a continuum of 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," said Will Richter, Relationship Manager, TD Community Development Corporation.
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 Innovate Fund (TIF) 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 NMTCs 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 $85MM in NMTCs allocation since 2018.
About TD Community Development Corporation
TD Community Development Corporation (TDCDC) is a certified Community Development Entity and wholly-owned subsidiary of TD Bank, N.A. Since 2007, TDCDC has been a six-time award winner under the NMTC Program, securing $450 million in allocation authority from U.S. Treasury to support the revitalization of low-income, urban and rural neighborhoods across TD's Maine to Florida footprint. To date, TDCDC has deployed $1.3 billion in direct and indirect investments to support 56 projects. TDCDC's bifurcated deployment strategy helps commercial and industrial businesses create and retain high-quality, accessible jobs and helps community-based organizations improve and expand local services, resources and facilities. In total, TDCDC's NMTC investments have helped create over 8,700 direct jobs and expanded critical community services to over 137,000 low-income community residents.
About Safe Harbor
Safe Harbor aims to influence a culture where all people are safe and valued in their relationships. It provides pathways for people impacted by domestic abuse to survive and thrive and raises awareness of domestic abuse through community engagement and education. For more information, visit Safe Harbor at www.safeharborsc.org.
Media Contact:
Martha A. Gaston, APR
TD Bank
martha.gaston@td.com