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

Historic Rehabilitation, Infrastructure, Mixed-Use, Ports, Transportation and Ports

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

Infrastructure, Ports, Transportation and Ports

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

Infrastructure, Manufacturing, Ports, Transportation and Ports

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

Broadband, Infrastructure

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

Broadband, Infrastructure

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

Broadband, Community, Infrastructure

Project City:

Anchorage

Project State:

AK

Project Year:

2011

Installation & Operation of Fiber-Optic & Microwave Broadband Connection: GCI is the largest integrated telecom company in Alaska, having provided cellular service to over 100 rural communities in the past ...
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