WASHINGTON, D.C. (May 23, 2019)– The U.S. Department of the Treasury’s CDFI Fund announced the Calendar Year 2018 New Markets Tax Credit (NMTC) allocation awards today. The CDFI Fund awarded $3.5 billion to 73 Community Development Entities (CDEs) from 35 states, Puerto Rico, and the District of Columbia. “The federal New Markets Tax Credit is a unique and […]
Six New Cosponsors of H.R. 1680
Today, Representatives Tim Ryan (D-OH), Jimmy Panetta (D-CA), Sharice Davids (D-KS), Peter DeFazio (D-OR), Trent Kelly (R-MS), and Jim Costa (D-CA) signed on as cosponsors of the NMTC Extension Act of 2019 (H.R. 1680). That brings us to 74 cosponsors plus Terri Sewell (D-AL). Below are some project examples from these members’ districts. Tim Ryan […]
Selected NMTC Projects in Illinois 11th District
One Hope United’s Joliet Early Learning Center One Hope United’s (OHU) Joliet Early Learning Center will open in March, thanks to an Illinois state grant and $15 million in new markets tax credits. This new center is one of 12 One Hope United early childhood education programs in the Chicago metropolitan area offering a safe, […]
Recent NMTC Projects in Minnesota’s 4th District
Small business incubator, training center opens on St. Paul’s East Side Dayton’s Bluff Neighborhood Housing Services of St. Paul, in partnership with Neighborhood Development Center (NDC), opened a small-business incubator and training center in the summer of 2017 at 809 E. Seventh St. The primary focus is minority neighborhood entrepreneurs who own small and start-up […]
Senator Blunt’s Statement on National Small Business Week
“There is more we ought to be doing. One thing we could have that a lot of small businesses could really benefit from is the New Markets Tax Credit Program. This is a program that was first authorized in 2000. It encourages investment in high-poverty areas or in low-income areas. Again, in Missouri, 42,000 new […]
NMTC Program Paves Way for Expansion of Investing in Rural America
NMTC Coalition Executive Committee member Kevin Goldsmith has a piece in the latest issue of the Novogradac Journal of Tax Credits on the NMTC’s growing presence in rural communities: The New Markets Tax Credit (NMTC) program continues to expand its scope to serve the most distressed communities across the United States. Initially left behind in […]
Tax Credit Deal Moves Rescue Mission Remodel Campaign Into Home Stretch
Construction expected to be finished this summer Thanks to the recent closing of a tax credit transaction, the Santa Barbara Rescue Mission (SBRM) netted $1.7 million for its Mission of Hope campaign, leaving only $381,800 to raise to fully fund the $11.9 million remodel of its Yanonali Street facility.
New Markets Tax Credit Coalition Hosts April 2019 Fly-in, Congressional Briefing
Yesterday, on April 9th, the nation’s leading community development entities met with nearly one hundred Members of Congress and their staffs to discuss the advancement of bills introduced in the House and Senate in February that make permanent and expand the New Markets Tax Credit. The fly-in, hosted by the New Markets Tax Credit Coalition, […]
Senator Daines to tour the future Billings Family Service facility today
Today Senator Daines (R-MT) is touring the future site of the Billings Family Service headquarters. The new facility is receiving NMTC-financing from MoFi. Learn more from KURL8. Features of the new facility include: Tripling square footage resolving safety and efficiency issues Expanded food box program for families,seniors and individuals Creation of job training services Expanded […]
Reps. Holding (R-NC), Rutherford (R-FL), and Gomez (D-CA) cosponsor HR 1680
https://twitter.com/NMTCCoalition/status/1106541333798416390
