Travois New Markets, a nationally certified Community Development Entity (CDE), has welcomed attorney Little Fawn Boland, a member of the Piro/Manso/Tiwa Indian Tribe of the Pueblo of San Juan de Guadalupe of New Mexico and a partner at Ceiba Legal LLP, to its advisory board. Boland joins five other professionals who represent diverse American Indian, Alaska Native and Native Hawaiian communities and who guide Travois New Markets as it decides where to direct private investments.
As a CDE, Travois New Markets’ primary mission is to serve low-income communities, and the advisory board members ensure it stays focused on that mission.
“As an attorney, I have been working on economic development since 2005,” Boland said. “I would like to be part of Travois’ educational efforts to help tribes understand the opportunities that exist under the New Markets Tax Credit (NMTC) and Low Income Housing Tax Credit (LIHTC) programs. In addition, I want to find ways to make tribes believe that they too can complete a NMTC or LIHTC deal with the right team and to give tribes the tools to do so. I also want to help increase the allocation of tax credits for Indian Country projects.”
“We are really pleased to welcome Little Fawn to our advisory board,” said Phil Glynn, Travois vice president for economic development. “She understands the complexities of the New Markets Tax Credit program and how to apply it to projects in Indian Country. Her voice and vision will help us finance projects that create jobs and provide much-needed services to Native communities for years to come.”
In addition to Ms. Boland, two other professionals are recent additions to the advisory board: Jason Evans (Inupiaq Eskimo), founder of Financial Alaska; and Joseph Lapilio (Native Hawaiian), president of Waianae Economic Development Council. Evans has over 15 years of economic development experience in Alaska and is responsible for more than $100 million in investments in the last three years alone. Lapilio has worked in community organizing and economic development for more than 24 years and serves on the board of directors for the Native Hawaiian Chamber of Commerce.
The advisory board is completed with three long-serving members: Gabe Galanda (Round Valley), attorney and founding partner of Galanda Broadman; Lance Morgan (Winnebago), president and CEO of Ho-Chunk Inc.; and Laurel Vermillion, Ph.D. (Standing Rock Sioux), president of Sitting Bull College. Learn more about the advisory board here.
About the New Markets Tax Credit program
The New Markets Tax Credit program is administered by the Community Development Financial Institutions Fund (CDFI Fund) of the U.S. Department of the Treasury. Enacted by Congress in 2000, the program encourages the investment of private equity capital into low-income communities and, in exchange, allows investors to receive federal tax credits equaling 39 percent of the investment over a seven-year period. These investments are made to spur community and economic revitalization. The NMTC statue requires that investments be located in census tracts where the individual poverty rate is at least 20 percent or where median family income does not exceed 80 percent of the area median. NMTC investments of $15.5 billion have generated a total of $50 billion in capital that has been invested in some of the nation’s most underserved communities. For more information, visit www.cdfifund.gov.
About Travois New Markets
Travois New Markets, a nationally certified Community Development Entity (CDE), is dedicated exclusively to meeting the economic development needs of American Indians, Alaska Natives and Native Hawaiians in low-income communities. Travois New Markets has invested a total of $180 million in New Markets Tax Credits from three allocations, which it received from the CDFI Fund of the U.S. Department of the Treasury. Private investor equity of more than $65 million generated from these tax credits has helped finance infrastructure, health care and community centers, education facilities and other businesses. This year marks 20 years in business for the Travois family of companies and $1 billion of investment in Native communities in 20 states with the Low Income Housing Tax Credit (LIHTC) program and the New Markets Tax Credit (NMTC) program. Join the celebration and conversation on social media with #20YearsEquals.