American Communities Trust Inc

TO IMPROVE INNER CITY NEIGHBORHOODS BY INCREASING ECONOMIC OPPPORTUNITY.

BALTIMORE PUMPHOUSE:THE BALTIMORE PUMPHOUSE IS A MULTI-PHASED, $27M INITIATIVE TO ESTABLISH A SMALL BUSINESS TOWN CENTER IN THE HEART OF A SEVERELY DISTRESSED COMMUNITY THAT WAS ONCE AN EPICENTER OF BUSINESS AND RETAIL. THE BALTIMORE PUMPHOUSE CONSISTS OF 4.1 ACRES AND FIVE HISTORICAL BUILDINGS (THE "PROJECT") LOCATED AT THE CORNER OF N. WOLFE AND N. GAY STREETS, IN BALTIMORE'S BROADWAY EAST COMMUNITY (THE "PROPERTY").THE PROJECT SPONSOR, AMERICAN COMMUNITIES TRUST ("ACT"), IS A NON-PROFIT COMMUNITY DEVELOPMENT PARTNER SPECIALIZING IN CREATING INCLUSIVE ECONOMIC DEVELOPMENT PROJECTS THAT BRING GROWTH AND PROSPERITY TO LOW-INCOME RESIDENTS. THE FIVE BUILDINGS THAT CONSTITUTE THE BALTIMORE PUMPHOUSE WERE BUILT 125 YEARS AGO AS THE WATER PUMPING STATION FOR EAST BALTIMORE. VACANT SINCE THE 1990'S, THE CONDITION OF THE BUILDINGS WAS SO DERELICT THAT THEY BECAME THE PERFECT FILMING LOCATION FOR THE WIRE. KEY OBJECTIVES OF THE PROJECT INCLUDE: ELIMINATING OF FOUR ACRES OF BLIGHT FROM A SEVERELY DISTRESSED COMMUNITY, SUPPORTING MINORITY AND LOCALLY OWNED SMALL BUSINESSES; LOCAL JOB CREATION; INCREASING OPPORTUNITIES FOR COMMERCE AND THE CIRCULATION OF THE DOLLAR WITHIN THE COMMUNITY; RELIEVING PRESSURE ON AND UTILIZATION OF SOCIAL SERVICES; INCREASING DIRECT ACCESS TO HEALTHY FOOD; AND RESTORING HISTORICAL TREASURES.PHASE 1, COMPLETED IN AUGUST 2017, FOCUSED ON ENVIRONMENTAL REMEDIATION, SITE WORK AND REPAIRING ESSENTIAL INFRASTRUCTURE, WHILE BUILDING A NEW 8,000 SF COMMERCIAL PRODUCTION AND TEACHING KITCHENS. THE NEW CONSTRUCTION BUILDING IS NOW FULLY OPERATIONAL AND THE COMMERCIAL KITCHENS ARE 100% LEASED TO CITY SEEDS, A CATERING BUSINESS WITH A MISSION OF WORKFORCE DEVELOPMENT. PHASE 1 COSTED $7.5MM AND WAS FUNDED ENTIRELY THROUGH GRANT DOLLARS. SINCE ITS COMPLETION, MORE THAN 57 FULL TIME POSITIONS HAVE BEEN CREATED, 44 (77%) OF WHICH HAVE GONE TO LOW-INCOME RESIDENTS.PHASE 2, COMPLETED IN OCTOBER 2019, CONSISTED OF REHABILITATING THE HISTORIC STOREHOUSE (BUILDING 3). TODAY, THE ~10,000 SF STOREHOUSE IS AN OFFICE BUILDING. PHASE II WAS FINANCED USING $2.8 M FROM A COMBINATION OF GRANT DOLLARS, STATE AND FEDERAL HISTORIC TAX CREDIT EQUITY, AND NEW MARKETS TAX CREDIT SUBSIDY.PHASE 3, WITH A BUDGET OF $6MM BEGAN IN OCTOBER 2021 AND THE CORE AND SHELL WORK FOR BUILDING 5/6 WAS COMPLETED IN AUGUST 2022.

LAST MILE PARK :LAST MILE PARK IS A $6.3 MILLION, ONE-MILE PUBLIC ART AND HERITAGE ECO-TRAIL THAT WILL LOOP THROUGH AMTRAK'S EIGHT OVERPASSES. LYING ADJACENT TO THE BALTIMORE PUMPHOUSE, THE TRAIL LIES BETWEEN THE NORTH-OF-THE-TRACKS NEIGHBORHOODS TO THE NORTH AND EBDI, EAGER PARK, AND JOHNS HOPKINS UNIVERSITY TO THE SOUTH. THE TRAIL WILL TAKE PEDESTRIANS ON A TOUR OF SCULPTURAL ART, PERMANENT ARTISTIC LIGHT INSTALLATIONS, AND GREEN INFRASTRUCTURE WHILE PROVIDING ENGAGING INFORMATION ON THE NARRATIVES AND CULTURE OF EAST BALTIMORE AND ITS RESIDENTS. LAST MILE PARK STITCHES TOGETHER THE NORTHERN AND SOUTHERN NEIGHBORHOODS AROUND THE RAILROAD TRACK, PROMOTING ONE UNIFIED COMMUNITY. THE PILOT SITE OF LAST MILE PARK OPENED IN MAY 2022.

LEGACY FAMILY RETENTION PROGRAM :AS ACT HELPS TO BRING SMALL BUSINESSES AND AMENITIES TO BROADWAY EAST, IT HAS A LASER BEAM FOCUS ON ENSURING EXISTING RESIDENTS STAY IN BROADWAY EAST TO PARTICIPATE IN THE PLANNED ECONOMIC BOOM. TO ENSURE NEW DEVELOPMENT BENEFITS EXISTING RESIDENTS, ALSO KNOWN AS LEGACY FAMILIES, ACT HAS LAUNCHED A LEGACY FAMILY RETENTION PROGRAM. THROUGH THIS PROGRAM, ACT WILL ENGAGE HOUSEHOLDS DOOR-TO-DOOR TO HELP ASSESS WHAT HOUSING SUPPORTSERVICES ARE NEEDED; TO PREPARE MENU OF RESOURCES AND IDENTIFY GAPS IN SERVICES AVAILABILITY; TO RECRUIT DIRECT SERVICE PROVIDERS TO DELIVER THOSE SERVICES; TO BUILD WITH EACH HOUSEHOLD AN INDIVIDUALIZED HOUSING SUPPORT SERVICES PLAN; AND TO WORK WITH EACH HOUSEHOLD TO PROVIDE THE FINANCIAL AND ADMINISTRATIVE SUPPORT NEEDED TO ACHIEVE EACH PLAN GOAL. BY FOCUSING ON THE WORKING CLASS AS THE COMMUNITY'S STRONGEST ASSET, ACT IS HELPING TO BUILD A STRONG RESIDENTIAL NEIGHBORHOOD WITH A VIBRANT COMMERCIAL AND RETAILS CORE THAT OFFERS POSITIVE PEDESTRIAN ACTIVITY AND RETAIL EXPERIENCES AFTER 5 PM. ACT IS LAUNCHING THIS PROGRAM IN SEPTEMBER 2022.