Monarch Private Capital and Anthem Partner to Help Create a New Home for the National Women’s Hall of Fame
The Hall of Fame to expand its showcase of outstanding American women with move to historic mill in new state-of-the-art center
ATLANTA – Monarch Private Capital (MPC), a nationally recognized tax-advantaged investment firm which develops, finances and manages a diversified portfolio of projects that generate federal and state tax credits, has partnered with Anthem, Inc., one of the nation’s leading health benefits companies, to provide capital for the National Women’s Hall of Fame. The investment will not only help preserve a historic mill, but it will also create a new home for the outstanding achievements of American women who have changed history and enrich the local community and its residents with the Hall’s educational programs and special events and exhibits.
The project involves the transformation of the historic Seneca Knitting Mill originally built in 1844 on the south shore of the Cayuga-Seneca Canal. The mill ran continuously for 155 years until it closed in 1999. The rehabilitation creates a permanent home for the Hall in a state-of-the-art center to showcase the stories of 276 great American women currently inducted into the Hall of Fame. Creating a deeper sense of belonging and community for the Hall are the building’s original founders–trustees Jacob Chamberlain and Charles Hoskins–who were entrenched in abolition and women’s rights.
“We appreciate our partnership with Anthem and the collaboration with the National Women’s Hall of Fame to bring the Seneca Knitting Mill back to life,” said Rick Chukas, MPC’s Managing Director of Federal Historic Tax Credits. “We congratulate the Hall for not only preserving a historic landmark, but for transforming it into a property that will play a prominent role in preserving the stories of innovative women who have impacted American history.”
“At Anthem we are committed to improving the lives and communities in which we live and work each and every day. As a leading healthcare organization where 74 percent of our associates are women, we recognize the many contributions women have made in our industry,” said Gail K. Boudreaux, President and CEO at Anthem. “Our investment in the rehabilitation of the National Women’s Hall of Fame is an opportunity to provide the local community and the country with a new and improved venue that will beautifully showcase the historical contributions and pioneering efforts women across all industries have made, and serve as a place for continued inspiration and motivation for generations to come.”
“Bringing the National Women’s Hall of Fame to the historic Seneca Knitting Mill would not have been financially feasible without historic tax credits,” said Betty Bayer, President, National Women’s Hall of Fame and Professor, Women’s Studies, Hobart and William Smith Colleges. “The cost of rehabilitating a historic building like the mill is significantly higher than building a new structure, but the mill will create the feel of coming home to history.”
Rehabilitation of the Hall completed Phase 1 in December 2018 with Phase 2 expected to be complete sometime in 2020.
Monarch Private Capital positively impacts communities by investing in tax credit supported industries. The company is a nationally recognized tax equity investor providing innovative capital solutions for affordable housing, historic rehabilitations, renewable energy, film and other qualified projects. Monarch has long term relationships with institutional and individual investors, developers, and lenders that participate in these types of federal and state programs. Headquartered in Atlanta, Monarch has offices and tax credit professionals located throughout the U.S.
About Anthem, Inc.
Anthem is a leading health benefits company dedicated to improving lives and communities, and making healthcare simpler. Through its affiliated companies, Anthem serves more than 74 million people, including nearly 40 million within its family of health plans. We aim to be the most innovative, valuable and inclusive partner. @AnthemInc on Twitter.
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