Today, on World Habitat Day, we’re highlighting many of the Habitat for Humanity projects financed by the New Markets Tax Credit. The credit has supported thousands of affordable, single-family houses – often in areas recovering from disasters.
Guest post by Kermit Billups, Greenline Ventures The New Markets Tax Credit (NMTC) is one of the most efficient community economic development tools for low-income communities that I have encountered in my 35 years of investment banking. I currently have the privilege of serving as the President of the NMTC Coalition, a national membership organization…
Last week, three members of Congress cosponsored the New Markets Tax Credit Extension Act of 2019 (H.R. 1680): Garrett Graves (R-LA), Andy Barr (R-KY), and David Price (D-NC). Below, I’ve highlighted of the NMTC projects in their districts. Garrett Graves (R-LA) Baton Rouge, LAAmerican Door and Hardware The NMTC supported $1.47M in financing for a…
As part of our celebration of the 25th Anniversary of the CDFI Fund, we thought it would be interesting to highlight a few of the earliest NMTC projects.
The CDFI Fund was authorized by Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. The act created a new agency providing funding to individual CDFIs and their partners through a competitive application process. Several years later, the New Markets Tax Credit was authorized as part of the Community Renewal Tax Relief Act of 2000.…
The NMTC has delivered over $1 billion in financing to 40 community development projects in Georgia’s Fifth Congressional District, represented by Civil Rights legend John Lewis. We thought we would take a moment and highlight a few. Chris 180 Center of Excellence This project consists of several components: new construction of a building which will…
Latest Cosponsors of H.R. 1680
Latest Cosponsors of S. 750
State Fact Sheets and Stories
Browse our NMTC project map to learn more about how the NMTC is creating jobs and driving investment to all 50 states.
Have a Project?
Do you have a great project in a low income community that is in need of NMTC allocation? We recommend first watching our “How It Works” video.
The next step is to check the CDFI Fund’s mapping site to see if your project is in an eligible census tract.
Finally, check to see which Community Development Entities serving your area have remaining NMTC allocation.