Organization: MESQUITE QALICB INC
Mission: TO ACQUIRE AND LEASE REAL OR PERSONAL PROPERTY THAT IS SUBJECT TO CERTAIN RESTRICTIONS AND LIMITATIONS FOR THE BENEFIT OF THE LAS VEGAS-CLARK COUNTY LIBRARY DISTRICT.
Activities: THE MESQUITE QALICB OBTAINED FINANCING IN AN ARRANGED STRUCTURE UNDER THE NEW MARKETS TAX CREDIT PROGRAM (NMTC). AS A RESULT OF PARTICIPATING IN THE NMTC PROGRAM, MESQUITE QALICB ENTERED INTO TWO NOTES PAYABLE, WHICH ARE SECURED BY A DEED OF TRUST AND ASSIGNMENTS OF LEASES AND RENTS. BOTH OF THESE BEAR INTEREST AT 1% AND ARE PAYABLE IN QUARTERLY INTEREST-ONLY PAYMENTS THROUGH DECEMBER 2024, AND QUARTERLY PRINCIPAL AND INTEREST PAYMENTS THEREAFTER THROUGH DECEMBER 2047. THE EXPENSES IN FISCAL YEAR 2020 WERE THE INTERESTS OF THE TWO LOANS AND BUILDING DEPRECIATION.
NTEE category: Community Improvement & Capacity Building
Secondary category: Public & Societal Benefit