We are always happy to support nonprofits doing great work here in Austin. There are quite a few, but one in particular that needed our help recently.
LifeWorks is a nonprofit that provides critical services to disadvantaged youth and families. From operating an emergency shelter to holding GED and literacy classes, LifeWorks does it all.
LifeWorks saw the need for affordable housing in Austin. They decided to invest $5.7 million to open a 45-unit apartment campus on their 6-acre campus in East Austin, but they needed to come up with $2 million funding gap.
When Gary, our CEO, heard their story, he knew that he wanted to help them with this. He matched them up with the New Markets Tax Credit program, a federal incentive that gives an income tax credit to corporate taxpayers who invest in job creation for low-income communities. Gary put them in touch with Capital One Bank, and the rest is history.
Congratulations to our friends at LifeWorks for providing yet another critical service to our community and Capital One Bank for helping to make it possible. You can read more here.