JCT Report Highlights NMTC infrastructure Investment

Yesterday, the Joint Committee on Taxation released “OVERVIEW OF SELECTED PROVISIONS AND OPTIONS RELATING TO FUNDING AND FINANCING INFRASTRUCTURE INVESTMENTS.” The report highlights tax provisions employed for the financing of infrastructure. With the help of CDFI Fund data, the committee was able to identify 171 infrastructure projects financed by the NMTC totaling over $2 billion.

Below, we’ve highlighed a few examples.

Ports and Freight

Industrial waterfront property and long-neglected ports are often the most distressed and environmentally contaminated areas of an urban core. Municipal governments and Port Authorities have used the NMTC for brownfield remediation and to rejuvenate ports, freight terminals, and fishing docks.

Yonkers Pier

Yonkers Pier
Project City:
Yonkers,
Project State:
NY
Project Year:
(2008)
The Yonkers Pier is the only turn-of-the 20th century pier still in use on the Hudson River. The restoration of the Pier is another milestone in the remarkable renewal of ...
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Port of Hueneme

Port of Hueneme
Project City:
Port Hueneme,
Project State:
CA
Project Year:
(2013)
The modernization of the Port of Hueneme retained $7 billion in trade business and 500 livable wage jobs. Clearinghouse CDFI provided $10 million of NMTC allocation for this $14.7 million ...
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America’s Central Port Complex

America’s Central Port Complex
Project City:
Madison,
Project State:
IL
Project Year:
(2015)
The project includes million square feet of new, rail-served manufacturing and warehousing space in the industrial development along the Mississippi River’s Chain of Rocks shipping canal. The warehouse project is ...
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Broadband

Many rural communities still lack access to high-speed broadband connections. Increasingly, the NMTC has been used to finance broadband expansions into underserved and remote rural areas.

Continental Divide Electric Cooperative Broadband Project

Continental Divide Electric Cooperative Broadband Project
Project City:
Grants,
Project State:
NM
Project Year:
(2017)
Currently, residents and owners of approximately 24,000 homes and business in Grants and the surrounding area have no broadband internet option and rely on satellite internet, the speed of which ...
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Greatwave Communications

Greatwave Communications
Project City:
Cleveland,
Project State:
OH
Project Year:
(2016)
GreatWave Communications is a long-standing operating business located in Conneaut, Ohio that provides high-quality telecommunications services to over 2,000 telephone customers, 1,650 cable television subscribers, and 3,200 broadband internet users ...
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Terra NW

Terra NW
Project City:
Anchorage,
Project State:
AK
Project Year:
(2011)
The Alaska telecommunications provider, GCI, completed Phase 1 of the TERRA-NW broadband service in December and started transmitting commercial traffic on Jan. 3, 2013. Travois New Markets used a portion ...
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