Democratic Platform Supports the NMTC
On Monday, July 25th, delegates at the Democratic National Convention approved a party platform that included several proposals to protect and expand the New Markets Tax Credit:
- Ending Poverty and Investing in Communities Left Behind: “We will expand and make permanent the New Markets Tax Credit.”
- Building Strong Cities and Metro Areas: “We will support entrepreneurship and small business growth in cities by providing mentoring and training to entrepreneurs and small business owners in underserved communities as well as expanding federal funding for the New Markets Tax Credit, community development financial institutions, and the State Small Business Credit Initiative.”
- Investing in Rural America: “We will expand access to equity capital for businesses and expand the New Markets Tax Credit to better serve rural small businesses.”
Republican Senator Proposes Doubling NMTC Allocation in 2017, 2018, and 2019
Both parties are increasingly looking at the NMTC to help jumpstart business development in rural areas. Earlier this month, Senator Cory Gardner (R-CO) introduced the Rebuilding and Renewing Rural America Act (S. 3243), a broad legislative package that – among other things – extends tax credits to rural communities and lessens the regulatory burden in rural areas.
The legislation calls for an increase in NMTC allocation in 2017, 2018, and 2019, from $3.6 billion to $7 billion. Earlier this year, CDFI Fund announced that they would combine the 2015 and 2016 rounds and award $7 billion in the fall of 2016, so Gardner’s legislation would provide a stable level of allocation over the next four years.
However, the bill would set-aside the additional $3.5 billion in NMTC allocation to organizations with a significant mission of serving, or providing investment capital for, rural renewal communities. Rural renewal community are defined in the bill as any low income community which has a population of at least 200 people but not more than 25,000 people and is not located in a metropolitan area of 200,000 or more, or which is entirely within an Indian reservation.
The NMTC statute – as amended in 2004 – requires that the CDFI Fund ensure non-metro counties get their fair share of NMTC investment. In 2014, the Coalition produced a report on the impact of the program in rural areas.
More information on rural investments:
On June 29, 2016, U.S. Rep. Lynn Jenkins (KS-02), the fifth-highest-ranking member of House Republican leadership and a member of the U.S. Ways and Means Committee, toured Kansas City startup PayIt. PayIt is a cloud-based mobile solutions platform for government, leveraging its technology and insights to rewrite and automate the citizen engagement experience.
PayIt’s patent-pending mobile platform brings speed and simplicity to the citizen-government payment processing experience for state and local services, such as the DMV, permits and licensing, turnpike passes, income tax, traffic citations and more. Kansas Transportation Authority recently deployed the PayIt Kansas mobile app, providing K-TAG account users the ability to access and manage their K-TAG account anytime, anywhere, directly from their smartphones.
The visit was an opportunity to showcase to Rep. Jenkins how the New Markets Tax Credit (NMTC) program facilitates financing for a variety of businesses and projects, from housing developments to community centers to manufacturing plants, located in states and communities that are underserved by traditional sources of capital.
A member of Kansas City’s thriving technology start-up community, PayIt’s rapid growth also reflects the area’s strong tech talent and entrepreneurial spirit.
NMTC financing for the project was provided by Advantage Capital Partners.
Last month, to mark National Small Business Week, Congressman Xavier Becerra (D-CA), Chairman of the House Democratic Caucus, joined Treasury Secretary Jack Lew at the NMTC-financed L.A. Prep in Lincoln Heights.
The L.A. Prep project involved the acquisition and renovation of 56,000 square foot former warehouse into an incubator for small food producers who have outgrown their startup spaces. The project moved forward thanks in part to $16 million in NMTC allocation from Los Angeles Development Fund and UrbanAmerica. Capital Impact Partners provided $11 million in leveraged debt, with $5.1 million in equity provided by U.S. Bancorp CDC. Civic Enterprise, real estate development firm focused on revitalizing emerging urban neighborhoods, developed the project.
“Two-hundred jobs created: 50 tenants and one-third minority-owned businesses at L.A. Prep & L.A. Kitchen,” said Congressman Becerra. “I’m so proud we have places like this in the district, setting small business owners up so that they can get access to capital and help create more jobs for people across our district and beyond – not to mention, nutritious and delicious food!”
All L.A. Prep tenants receive: an exclusive production space; on-site access to everything a growing food-making business needs: flexible cold, dry and frozen storage; a demonstration kitchen; co-working space and more; a staffed warehouse to assist with receiving and logistics. L.A. Prep partner and co-founder Food Centricity, a business accelerator focused on early and growth stage food companies, provides business support and other key services to help the tenants succeed.
Tenant Spotlight: L.A. Kitchen
L.A. Prep’s largest tenant is the social enterprise L.A. Kitchen, which offers culinary training programs for at-risk individuals.
L.A. Kitchen is the vision of Robert Egger, founder of the award-winning D.C. Central Kitchen. The idea is this: L.A. Kitchen collects or purchases surplus fruits and produce from farms and wholesale companies in the region. These products fuel a 15-week, culinary arts job training program, preparing at-risk foster youth and older adults transitioning out of incarceration for jobs in the culinary field, helping reduce systemic patterns and become productive members of the Los Angeles community.
Photos from Secretary Lew and Congressman Becerra’s visit:
— Xavier Becerra (@RepBecerra) May 3, 2016
Community Development Leaders Gather in Washington, DC to Discuss Tax Policy Trends and Plans for 2017
NMTC Coalition brings together over 100 NMTC stakeholders for a policy conference and releases new report on the economic impact of the NMTC in 2015
On Wednesday, June 1st, the New Markets Tax Credit (NMTC) Coalition held its New Markets Tax Credit Annual Policy Conference. The event featured the release of the new 2016 NMTC Progress Report—the twelfth edition of the report—and a luncheon keynote by the Treasury Department’s Community Development Financial Institutions (CDFI) Fund Director Annie Donovan.
The NMTC Coalition’s Board President Robert Davenport, emceed the event. A longtime NMTC practitioner and president of the National Development Council, he noted recent successes in improving access to credits for communities in need of economic revitalization.
“This year’s policy conference comes at an exciting time for the NMTC community, with December 2015 passage of the PATH Act, which provided a five-year extension of the credit—the largest NMTC extension in the program’s history. And, adding to this accomplishment, the CDFI Fund announced in April that it would combine the Calendar Year 2015 and 2016 rounds, providing $7 billion in awards later this year. This is the largest allocation in the history of the NMTC and will add a much-needed injection of capital for projects in distressed communities.”
Panels included senior Treasury and CDFI Fund staff, experts on NMTC and the law, a panel on engaging community leaders and media in new project announcements, and an investor roundtable. During the session on the new NMTC Progress Report, the attendees learned about emerging trends in the field and the types of projects that are being done.
While there has been a national decline in manufacturing over the past several decades, which has been well documented during this presidential campaign, the survey data featured in the Progress Report shows the NMTC is increasingly being used to bring manufacturing jobs back to America. In fact, the report notes that in 2015, a record 30 percent of NMTC financed projects involved the financing of industrial facilities, waste recycling centers, and cutting-edge green-tech businesses. The report notes that over 80 percent of NMTC projects in 2015 were located in severely distressed communities, and it highlights NMTC investments in manufacturing facilities, health centers, and schools in the two convention cities, Cleveland and Philadelphia.
Department of Treasury data shows the credit has generated over $75 billion in investments to low income communities and led to more than 750,000 jobs since 2003. With a tax overhaul possible in 2017, NMTC supporters are making the case to legislators and the presidential candidates that the credit is an indispensable part of pro-growth tax reform.
“The NMTC meets an important and critical need for private-sector investment in economically distressed urban and rural communities,” said Bob Rapoza, spokesperson for the NMTC Coalition. “This directly correlates with the program’s solid bipartisan support in Congress, including a letter that was signed by 55 Members of the House last week, urging permanency for the NMTC.”
More information on the congressional sign-on letter and hearings being held on tax reform provisions can be found on the Coalition’s blog and photos from this year’s event are posted on the Coalition’s Facebook page.
The New Markets Tax Credit (NMTC) Coalition is a national membership organization founded in 1998 to advocate on behalf of the NMTC program. The Coalition, which now includes more than 150 members, is the principal advocate and lobby for the federal NMTC.
Enactment of NMTC at the federal level spurred a number of states to consider similar state tax incentives. These state credits have similar goals as the federal program. Other states are considering similar legislation. These credits are often called “New Markets Tax Credits” and can enhance revitalization efforts in low income communities. Because these credits are often used in conjunction with the federal NMTC, the NMTC Coalition has prepared a series of recommendations for state credits.
In general the NMTC Coalition believes that state NMTCs should be made available on an open, competitive basis. The state program should be generally available to community development organizations/entities (CDEs) with a track record of providing financial and technical assistance to businesses in low income communities. State tax credits should generally follow the federal New Markets Tax Credit in defining the low income community, the geographies, the businesses, the investors, the CDEs, and the authorized financial products and services. Specific recommendations for the principles are below.
Recognizing that many states have different economic development priorities and tax structures, in general the NMTC Coalition recommends that state legislation establishing a state NMTC program align with the federal program on a number of specific provisions. This will create greater efficiency and clarity and also increase the potential for a successful and effective state tax program.
Principles for state credit programs to align with Federal NMTC (Section 45D of the Internal Revenue Code)
- Eligible geographies: 45D (e);
- Financial products offered: (QILICIs) 45D (d) (1);
- Qualified Equity Investments (including eligibility of all taxpayers and term of qualified equity investment): 45D (b);
- Qualified businesses:45D (d) (2) (3);
- Types of investors: 45D (b));
- Eligibility of CDEs: CDEs that are eligible for federal NMTC are eligible for state program;
- In transactions in which both the federal NMTC and the state NMTC credits are used, state programs should prioritize allocations to CDEs as specified in 45D (f) (2)) and for CDEs proposing particularly efficient uses of the subsidy;
- When a state NMTC is used with the federal credit, recapture of state credits is typically tied to the recapture of federal NMTCs. In cases in which a state credit is used without the federal NMTC, states should ensure compliance by establishing a mechanism; and
- States should at a minimum establish reporting requirements for state tax credit investments that tracks reporting requirements like those of the CDFI Fund and its Awards Management Information System (AMIS).
Coalition submits testimony to Tax Policy Subcommittee, following a bipartisan letter signed by 55 Members of Congress
WASHINGTON, D.C.— Today (May 23, 2016), the New Markets Tax Credit (NMTC) Coalition submitted testimony to the House Ways and Means Subcommittee on Tax Policy urging permanence for the credit. The subcommittee held a hearing last week, allowing Members of Congress to submit their proposals for tax legislation. Congressman Richard E. Neal (D-MA), Ranking Member on the subcommittee, as well as Congressman Mike Thompson (D-CA) expressed support for the NMTC during the hearing. The subcommittee is allowing testimony to be submitted for the record until Thursday, May 26th.
Earlier this year, Speaker of the House Paul Ryan (R-WI) created six committee-led task forces, which are charged with “developing a bold, pro-growth agenda that will be presented to the country in the months ahead.” House Ways and Means Chairman Kevin Brady (R-TX) leads the Tax Reform Task Force and is expected to release a report on his tax reform proposal in June. The Subcommittee hearing was a part of the effort to craft this plan.
The testimony, which was authored by the NMTC Coalition’s Board President Robert Davenport, calls for the NMTC to be made permanent. Davenport is a longtime NMTC practitioner and is the President of the National Development Council, which was founded in 1969 to create economic opportunity in low income communities.
“The NMTC meets an important and critical need for private-sector investment in economically distressed urban and rural communities. It blends the market incentive of Jack Kemp’s Enterprise Zones with the flexible community-driven approach of Lyndon Johnson’s Economic Opportunity Act. Furthermore, data on the impact of the NMTC shows that it has not only achieved its purpose, but it has done so at a relatively low cost to the federal government, particularly when compared to traditional economic development grant programs,” writes Davenport.
This comes on the heels of a bipartisan sign-on letter led by Reps. Steve Stivers (R-OH), José E. Serrano (D-NY), and Mike Turner (R-OH) to Ways and Means Chairman Kevin Brady (R-TX). The letter, which was sent on May 19th, was signed by fifty-five members of the U.S. House of Representatives.
Bob Rapoza, spokesperson for the NMTC Coalition noted the importance of this letter. “The Stivers-Serrano-Turner letter demonstrates solid bipartisan support for the NMTC, which is the direct result of the program’s proven outcomes to grow businesses and local economies, including maintaining and creating over 750,000 jobs since 2003,” said Rapoza.
The NMTC Coalition will be meeting in Washington, D.C. next week on June 1st for its annual NMTC Policy Conference. During the event, the Coalition will release its 2016 NMTC Progress Report, which is the 12th edition of the report. It provides data and detailed insights into how the NMTC was used in 2015, including the types of businesses financed, the communities benefitting from the investing, and the impacts of these investments at both the community and national level.
What do you do with one million square feet of underutilized and vacant department store in your city center, with a building constructed in 1905? That’s the question community leaders in Rochester, New York needed solved with the Sibley Building, once the largest department store in America between New York City and Chicago. In May, Boston-based WinnDevelopment closed on financing of two separate QALICBs for the overall $68.95 million redevelopment component of the site, utilizing $42.51 million in New Markets Tax Credit (NMTC) financing from four Community Development Entities (CDEs) and a mix of public financing sources. The project also utilized more than $13.7 million in state and federal Historic Tax Credits and $1.8 million in loans from the City of Rochester and its Community Development Authority.
The project is proving to be a powerful example of successful partnerships between government entities, educational institutions and the private-sector development community and Sibley is demonstrating how NMTCs are addressing the needs of challenged communities. It is located within the Central Business District of Rochester and a census tract where the unemployment rate is 20.8% (2.63 times the national average) and has a poverty rate of 58.3%.
Sibley integrates meaningful retail, professional offices and health care services, apartments and business incubation space for high-tech research and development into Rochester’s city center and directly anchors the city’s Downtown Innovation Zone and addresses specific issues around engagement, heritage, transportation and neighborhoods outlined specifically in the City of Rochester’s 2014 Master Plan.
The plan includes 70,000 square feet of first-floor retail and hundreds of thousands of square feet of office space on the upper floors.
“This project will help create jobs and grow the local economy – all anchored in an important Rochester landmark,” said Governor Andrew Cuomo. “Repurposing and developing the Sibley Building is an important step for Rochester, and this transformation is a great example of what can be achieved through the Regional Economic Development Council process.”
The overall project funding package included NMTCs in the amount of $20 million of allocation from RBC Community Development, $12.4 million from Urban Research Park CDE, and $8.35 million from Community Impact Capital. PNC Bank, N.A. was the tax credit investor and also provided $1.76 million in NMTC allocation from its affiliated CDE. Furthermore, the project received funding from local and state resources to bring the project to fruition including an Empire State Development loan, funding from the Upstate Revitalization Initiative and Regional Economic Development Council, NYSERDA’s “Cleaner, Greener Communities” grant program and Brownfield Remediation funds. The adaptive reuse of this historic building will be constructed to LEED Silver standards.
The Sibley project won the support of New York Senator Charles Schumer who has been a leading proponent of the NMTC program in the United States Senate. At a December 2015 news conference discussing the need and impact of the New Markets Tax Credits program, Sen. Schumer, D-N.Y. said the tax credits are a critical piece of financing for the project. “Private sector alone led to a vacant downtown,” said Schumer, “[incentives] bring initial development here, and then the rent levels go up and desirability, and you don’t need any more credits. It grows on its own.”
Overall, the Sibley project is estimated to create 1,566 temporary construction jobs, 1,042 permanent FTE jobs, 75 market-rate apartments and 21 affordable apartment units and will spur an immediate direct catalytic investment of $148.4 million within the community. The project is expected to take between 14 months and 24 months to complete, with apartments available for lease beginning in the spring of 2018.
New York State has provided more than $10 million to HTR over the last four years through New York Governor Cuomo’s Regional Economic Development Council initiative, including $5 million towards the construction of their facility located within the Sibley building. The accelerator’s new hub at the Sibley Building provides support for start-up companies across the nine-county Finger Lakes region. The Center for Governmental Research projects that the accelerator’s efforts will create 1,000 direct jobs over the next five years.
The largest peanut shelling plant in the United States is officially open for business. Premium Peanut, located on Barrington Road west of Douglas, has actually been open for 92 days. Friday, however, the company celebrated its grand opening with a ribbon cutting, which was attended by several high-ranking officials, including Gov. Nathan Deal and his wife, Sandra. Several hundred people gathered on the grounds of Premium Peanut for a luncheon and the ribbon cutting.
- Learn more about the event from Douglas Now
Premium Peanut received $20 million in critical New Markets Tax Credit financing from CEI Capital Management LLC and another $3 million in allocation from SunTrust Bank to help expand its operations.
Premium Peanut used the capital to build a shelling facility to benefit a collection of 225 member farms in a cooperative-like arrangement. The peanut processing plant will help the farmers more easily access the market. Through guaranteed contracts and profit distribution, farms will see better overall profitability and smooth out the vagaries of boom and bust cycles that are notorious in the peanut industry.
The shelling facility is located in an an area of Douglas, Georgia with a poverty rate of almost 30 percent and an unemployment rate above 9 percent. The plant will create approximately 100 direct jobs, plus an additional 30 indirect jobs at the storage facilities. The majority of direct jobs will be unskilled positions available to low-income individuals and all will pay a living wage for single adult in the county and include benefits.
“This part of Georgia has what we often find in rural economies. Activity and growth are heavily dependent on natural resource industries as the main drivers,” said CEI Capital Management CEO Charlie Spies. “By supporting a cooperative farming model the New Markets Tax Credit program is doing its job, diversifying a shallow economy to lay the groundwork for a sustainable future.”
The PATH Act, which was enacted in December, 2015, extended the NMTC for five years from 2015 to 2019 at $3.5 billion in annual credit authority for a total of $17.5 billion. Today, the CDFI Fund announced plans to implement the largest and longest authorization of the NMTC since the Credit was established in 2000.
Below, please find the CDFI Fund’s press release announcing an Amendment to the CY 2015 NOAA. For applications submitted last December, the Fund will combine the 2015 and 2016 authorizations and award $7 billion later this year. After this combined round, Treasury will make three additional allocations of $3.5 billion in 2017, 2018, and 2019. They will not skip a year. In short, the $17.5 billion authorized in the PATH act will be allocated in four rounds: the first for $7 billion (later this year), and the next three years at $3.5 billion each in 2017, 2018, and 2019.
As you know, the Coalition wrote to the CDFI Fund in December in support of combining the authorizations for 2015 and 2016 in order to meet the limit established in the NOAA of $5 billion.
Treasury’s action is not unprecedented as the Bush Administration took similar measures to combine rounds during the launch of the NMTC. Combining the 2015 and 2016 rounds will also allow Treasury to ‘catch-up’. Beginning in 2017, the CDFI Fund will be in a position to make allocation awards in the year in which credit are authorized.
These awards will represent the largest allocation in the history of the NMTC and will provide a substantial boost to revitalization efforts.
Below is the CDFI Fund’s press release. We urge you to read the FAQ document.
CDFI Fund Combines CY 2015 and 2016 Rounds of New Markets Tax Credit Program
Combined Round Will Provide Up To $7 Billion in Allocation Authority
The Community Development Financial Institutions Fund (CDFI Fund) has amended its Notice of Allocation Availability (NOAA) for the calendar year (CY) 2015 round of the New Markets Tax Credit Program (NMTC Program). The CDFI Fund is releasing the amended NOAA in advance of its publication in the Federal Register later this week. The NOAA has been revised to include the following:
- The combination of the CY 2015 and the CY 2016 NMTC allocation authorities into one allocation round (the “combined CY 2015 – 2016 allocation round”); and
- An increase in allocation authority available to award for the combined CY 2015 – 2016 round from $5.0 billion to $7.0 billion.
The NMTC Program is an important tool for communities to attract private investment for community development and economic revitalization. In December 2015, Congress authorized the program for five years. By combining the CY 2015 and CY 2016 allocation rounds, the CDFI Fund will be able to announce the allocation of New Markets Tax Credits in the year for which they are authorized, and will be able to help more communities access the benefits of the tax credits sooner.
The CDFI Fund is not re-opening the combined CY 2015 – 2016 round for new applications. All allocation determinations will be made from the existing pool of applications submitted for the CY 2015 round. The CDFI Fund received 238 applications requesting an aggregate total of $17.6 billion in NMTC allocation authority.
Currently, the CDFI Fund anticipates announcing the CY 2015 – 2016 NMTC Program allocations in late 2016.
To learn more about the CDFI Fund and its programs, please visit www.cdfifund.gov. Questions about the CY 2015 – 2016 NOAA should be submitted to the CDFI Fund’s Help Desk at (202) 653-0421 or email@example.com.
Have you registered for the 2016 NMTC Coalition Policy Conference?
The 2016 NMTC Coalition’s Policy Conference will be held on Wednesday, June 1st, from 8:30 am until 4 pm in Washington, DC. This year’s event will take place at the Hotel Palomar located at 2121 P Street Northwest. CDFI Fund Director Annie Donovan is confirmed as a keynote speaker. The Coalition is also inviting other senior Treasury and CDFI Fund staff to participate, as well as other NMTC industry experts. In addition, the Coalition will release its new 2016 NMTC Progress Report.
More details will be posted soon on the Coalition website at http://nmtccoalition.org/events/
Early bird rates are $250 for NMTC Coalition Members, and $300 for non-members. Early bird registration ends on May 3rd. After early bird registration expires, rates will increase to $300 for NMTC Coalition Members, and $350 for non-members. Please note that all registration fees are non-refundable after May 3, 2016.
Today, Senator Mike Crapo visited the future site of Hemming Cedars, a mixed use building in Rexburg. The facility is a New Markets Tax Credit (NMTC) project being financed by Montana & Idaho Community Development Corporation, which is set to begin construction in this spring.
Hemming Cedars is 220,000 square feet of commercial retail and office space, and an apartment complex. It will provide housing, including married student housing, for nearby BYU-Idaho students, as well as parking for both residents and the downtown commercial district. It will also create 125 construction jobs and 75 permanent jobs.
“The opportunity provided by New Market Tax Credits and our positive working relationship with Montana CDC and Wells Fargo has enabled us to further pursue redevelopment and revitalization of the core of the city. We believe this project will help to meet specific needs of our growing community and be another building block toward positive growth and development for this region,” said Richie Webb of the Hemming Corporation, which is the developer on the project.
Hemming Cedars replaces several smaller, older buildings and is the fourth NMTC project in Eastern Idaho. Wells Fargo was the investor for the $40 million project, and Montana & Idaho Community Development Corporation provided $32 million of its NMTC allocation to make the development possible.
“More than 600 jobs, full-time and construction, have been created by the use of the New Market Tax Credit in Idaho,” said Idaho Senator Mike Crapo, a senior member of the Senate Finance Committee. “While we push to streamline our tax code, we must remember the pro-competitive provisions like this that help us grow the economy and create jobs. Credit goes to the partners to make this project for Rexburg and BYU-Idaho a reality.”
The New Markets Tax Credit was enacted in 2000 in an effort to stimulate private investment and economic growth in low income urban neighborhoods and rural communities that lack access to the patient capital needed to support and grow businesses, create jobs, and sustain healthy local economies.
“New Market Tax Credits have made a significant difference for Rexburg,” said Scott Johnson, Director of Economic Development for the City of Rexburg. “By leveraging over $50 million in investment in our area, projects like Hemming Cedars are able to create jobs and economic vitality, and provide services that wouldn’t otherwise be here. Working in partnership with Montana & Idaho CDC has made achieving our goals a reality.”
The NMTC is a 39 percent federal tax credit, taken over seven years, on investments made in economically distressed communities. Today due to NMTC, more than $70 billion is hard at work in underserved communities in all 50 states, the District of Columbia, and Puerto Rico. Since its implementation, Congress has made several last-minute reauthorizations, making it difficult for practitioners and communities to rely on its availability. However, Congress passed a five-year extension of the NMTC in the PATH Act, which was passed in December 2015.
“Senator Crapo recently supported legislation to make sure the NMTC continues, and is available for job growth and community revitalization in cities like Rexburg, other capital-starved areas of Idaho and nationwide,” said Heidi DeArment, Vice President of Montana & Idaho Community Development Corporation and Vice President of the NMTC Coalition. “The federal NMTC has proven time and again that it is a vital, common-sense financial tool that encourages entrepreneurs and private investors to support development and economic growth in rural neighborhoods and urban communities left outside the economic mainstream.”
About Montana & Idaho CDC
Since 1986, Montana & Idaho CDC, a non-profit organization, has provided financing and consulting that change the lives of individuals and strengthen community prosperity. They have provided $400 million in financing to businesses that create jobs, charge the economy, and make their communities better.
About the New Markets Tax Credit Coalition
The NMTC Coalition is a national membership organization of Community Development Entities and investors organized to conduct research on and advocacy for the New Markets Tax Credit. The Coalition hosts two annual conferences and regularly publishes the NMTC Bulletin. To learn more, please visitwww.nmtccoalition.org.
Contact: Ayrianne Parks
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/senator-crapo-visits-new-nmtc-financed-hemming-cedars-site-in-rexburg-id-300240052.html
SOURCE New Markets Tax Credit Coalition
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