A Hawaii-based community development entity formed by American Savings Bank and the Oahu Economic Development Board was recently awarded $40 million in new markets tax credits from the U.S. Treasury that will help fund projects in the Islands with gaps in funding to fill.
The award is the third for Punawai O Puuhonua LLC and brings to $135 million the total in new markets tax credits meant to support the creation of jobs, goods and services in low-income communities.
