In 2020, the NMTC turned 20 years old, and we wrote a report on the history and origins of the program that we thought would be worth revisiting, along with some early projects. This year will be the 20th anniversary of the first NMTC application round in 2002.
NMTC 20th Anniversary Report
The NMTC was authorized 20 years ago as part of a bipartisan effort to jump-start investment and economic growth in low-income urban neighborhoods and rural communities. These areas had experienced a long-term decline, through good economies and bad. Many of America’s small farming towns, urban neighborhoods, and post-industrial suburbs lacked access to the patient capital needed to support and grow businesses, create jobs, and sustain a healthy economy.
Early NMTC Projects
McNeilus Steel ()
- Business Development, Machine Shops and Metal Fabrication, Manufacturing
- CDEs: Pathway Lending, Waveland Community Development
Dia Beacon (2003)
- Arts, Community, Historic Rehabilitation, Historic Tax Credit, Museums
- CDEs: National Trust Community Investment Corporation
Dalton Building Rehab (2003)
- Historic Rehabilitation, Historic Tax Credit, Housing, Mixed-use, Retail
- CDEs: National Trust Community Investment Corporation
Hippodrome Theater (2003)
- Arts, Community, Historic Rehabilitation, Historic Tax Credit, Retail, Theaters and Performing Arts Spaces
- CDEs: National Trust Community Investment Corporation
HCI Construction (2003)
- Professional Services, Retail and Commercial
- CDEs: Advantage Capital
Wheeling Stamping Building (2003)
- Business Development, Historic Rehabilitation, Historic Tax Credit, Office
- CDEs: National Trust Community Investment Corporation
