Treasury Announces $3.6 Billion in New Market Tax Credit Awards — HFFI Analysis to Come

by Nessa on February 24, 2012

I will provide a short analysis of what the NMTC award round means for HFFI next week. For now, be happy that four CDFIs who received HFFI awards ALSO received NMTC awards (CEI, IFF, LIIF, and TRF). Perhaps these four have an interest in using their tax credits to leverage their HFFI loans…

You can search read this press release: http://www.cdfifund.gov/news_events/CDFI-2012-01-Treasury-Announces-$3.6-Billion-in-New-Market-Tax-Credit-Awards-to-Revitalize.asp and do research on CDFIs awarded NMTC allocations here through these links:

Award List: http://www.cdfifund.gov/docs/2011/nmtc/2011%20NMTC%20Award%20List.pdf

Awards by State(s) Served: http://www.cdfifund.gov/docs/2011/nmtc/2011%20NMTC%20States%20Served.pdf

Allocatee Profiles: http://www.cdfifund.gov/docs/2011/nmtc/2011%20NMTC%20Profiles.pdf

As explained in the press release, “The NMTC, established by Congress in December 2000, permits individual and corporate taxpayers to receive a credit against federal income taxes for making equity investments in investment vehicles known as Community Development Entities. The credit provided to the investor totals 39 percent of the cost of the investment and is claimed over a seven-year period. Community Development.”

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