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A Portland development group catering to the Latino community has received federal and state tax credits to help pay for two new projects as well as rehabilitation of an existing building.

Hacienda Community Development Corp. last week received an $18 million New Markets Tax Credit Program deal from the Community Development Financial Institutions Fund, according to Mayor Charlie Hales‘ office. Hales was involved in the process of securing the money by completing interoffice work that shaped the deal and qualified the group for the tax credits, according to Sara Hottman, deputy public information officer for the mayor.

The tax credits are made up of $10 million in federal and $8 million in state funds, according to the mayor’s office.

The money will go toward construction of a new office for Hacienda CDC, construction of the Portland Mercado and repairs to the Ortiz Community Center.

The new office will sit at the corner of Northeast Killingsworth Street and Cully Boulevard, adjacent to the Ortiz Community Center. The building will bring together 40 staff members now divided between three offices, and will relocate employees to a space in the middle of their largest affordable housing campus.

The 14-year-old Ortiz Community Center holds a Multnomah County health clinic and other county-oriented social services programs. It also serves as a community center for residents of the affordable-housing community.

The Portland Mercado, now under construction in the Lents neighborhood, will host about 20 businesses as a public market and business incubator for the Latino community. It is scheduled to open in spring 2015.