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Waveland Community Development Allocates $10MM In New Market Tax Credits to Good News Bay Seafoods (August 2009)

PLATINUM, ALASKA - Waveland Community Development, a wholly owned subsidiary of Waveland Ventures, LLC is pleased to announce that it has allocated $10 million in New Market Tax Credits to assist in the financing of the Good News Bay Seafood processing plant located in Platinum,Alaska. This 37,800 square foot, multi-acre complex includes a seafood processing plant, a maintenance building, a dining facility for 130 people, and a tank farm. The developer,Coastal Villages Regional Fund, is a non-profit regional fishing cooperative that was founded in 1992. This new $41 million state of the art facility will employ 135 people in a census tract with over 25% of the population living under the poverty rate.

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