New Market Tax Credit Allocations Announced
On November 17, 2016, the Community Development Financial Institutions (CDFI) Fund announced the allocation of $7 billion of Federal NMTC authority. The Community Development Entities receiving this allocation are actively looking for projects to fund.
If you have or are aware of a project looking for federally subsidized funding, you may be in luck. Both real estate and operating business projects carried out by both for-profit and non-profit entities may qualify if located in a low-income community or if such business is owned by, employs, or serves low-income persons.