NMTC in the News

Below, find recent stories related to the New Markets Tax Credit.

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today that it received 196 applications for the calendar year (CY) 2023 round of the New Markets Tax Credit Program (NMTC Program). The NMTC Program advances economic development in economically distressed communities by making tax credit allocations available to Community Development Entities (CDEs) for targeted investments in eligible areas.
Nashville Rescue Mission opened new Women's Campus on Thursday. NASHVILLE, Tenn. (WTVF) — A growing number of women and children in Nashville don't know where they are going to sleep at night. Because of this, the Nashville Rescue Mission just made room for more beds. Families moved into the brand-new campus in Germantown on Thursday.

Nashville, TN

The Smith NMTC Associates team is excited to announce the closing of a $24 million Housing Partnership Network (HPN) New Markets Tax Credit (NMTC) transaction providing three separate NMTC loans of $8M each to Better Housing Coalition, Community Asset Preservation Corporation, and DreamKey Partners (formerly known as Charlotte-Mecklenburg Housing Partnership). U.S. Bancorp Community Development Corporation was the investor in the transaction.
First National is the historic renovation of the long-abandoned 1915 First National Bank building and adjacent former Siegel's Shoes building in downtown Olean, New York. The former bank floor, mezzanine, and former Siegel Shoes building feature commercial, event, art spaces, and Class A Office Space.

Olean, NY