The Community Development Financial Institutions Fund (CDFI Fund) is issuing a call for well-qualified personnel to serve as application Reviewers and Alternate Reviewers for the 2017 application round of the New Markets Tax Credit Program (NMTC Program). The CDFI Fund has contracted with F2 Solutions (F2) to recruit and process applications on a rolling basis for Reviewer and Alternate Reviewer candidates.
General Candidate Qualifications/Role:
The CDFI Fund and F2 Solutions require Reviewers and Alternate Reviewers to have considerable expertise in community and economic development finance. Specialized knowledge in commercial finance, including: operating business and real estate finance; financing of community-based organizations; pooling of community development loans for sale to secondary markets; and/or financial counseling, particularly for small businesses; or prior experience serving as an NMTC application reviewer.
Working independently and remotely, Reviewers provide critical first-stage evaluations of applications.
The strongest candidates will have:
1) 3+ years of direct experience with New Markets Tax Credit and/or experience with other tax credit programs, such as the Low Income Housing Tax Credit and Historic Tax Credit programs.
2) 5+ years (a minimum of three years is required) in one or more of the following areas:
- a. Experience underwriting business and/or commercial real estate investments, or evaluating community/economic development investments or entities; or
- b. Direct community/economic development finance experience; or
- c. Financial counseling to businesses; or
- d. Real estate development experience.
Period/Location of Service:
The CDFI Fund anticipates Reviewers and select Alternate Reviewers will complete approximately 10 hours of remote training, which will occur in early August 2017 through mid-August 2017. Application evaluations will occur from approximately mid-August 2017 through early October 2017. Evaluation of applications will be completed using a web-based review tool from the Reviewer’s chosen remote location. As a result, Reviewers are required to have consistent high speed Internet access and conference call capability.
How to Apply:
If you are interested in applying as a Reviewer for the 2017 application round of the NMTC Program, please visit our Reviewer Registry site – www.reviewerregistry.net. If you are a new user, please visit Reviewer Registry and create your profile. If you have a current profile, visit Reviewer Registry to transfer your account from the previous site, ReviewerRecruitment.net. Click the “Register” link upon visiting Reviewer Registry and follow the prompts as instructed. Once your profile has been updated, please click on the link and enter the session code, provided below, in order to receive access to and complete the four (4) required forms under “Reviewer Documents”:
Session Code: 170284
1) 2017 NMTC Experience Form,
2) 2017 NMTC COI Form,
3) 2017 NMTC NDA Form, and the
4) 2017 NMTC Scope of Work
Registration does not guarantee selection to participate in the 2017 NMTC Application Round. If you are interested in this opportunity, please review the Reviewer requirements and register with F2 Solutions as soon as possible. In order for you to be considered, you must have a completed profile, which includes an uploaded resume, as well as ALL of the aforementioned forms completed within the reviewer recruitment system by COB, Wednesday, June 14, 2017.
About the NMTC Program
The NMTC Program was established by Congress in 2000 to spur new or increased investments into operating businesses and real estate projects located in low-income communities. The NMTC Program attracts investment capital to low-income communities by permitting individual and corporate investors to receive a tax credit against their Federal income tax return in exchange for making equity investments in specialized financial institutions called Community Development Entities (CDEs). The credit totals 39 percent of the original investment amount and is claimed over a period of seven years (five percent for each of the first three years, and six percent for each of the remaining four years). The investment in the CDE cannot be redeemed before the end of the seven-year period.
Since the NMTC Program’s inception, the CDFI Fund has made 1,032 awards allocating a total of $50.5 billion in tax credit authority to CDEs through a competitive application process. This $50.5 billion includes $3 billion in Recovery Act Awards and $1 billion that was specifically set aside for recovery and redevelopment in the wake of Hurricane Katrina.
About F2 Solutions
F2 is an experienced consulting, technology, and management services provider focused on developing and executing innovative and efficient solutions for its private sector, nonprofit, and Federal Government clients. F2 provides a full spectrum of support services to its clients via three primary lines of business: Grant/Peer Review; Conference/Event Management; and IT Solutions.