{"id":138502176,"date":"2012-02-23T00:00:00","date_gmt":"2012-02-23T05:00:00","guid":{"rendered":"https:\/\/acccapital.com\/heartland-renaissance-fund-llc-awarded-60-million-in-new-market-tax-credit-allocation\/"},"modified":"2026-04-02T13:08:42","modified_gmt":"2026-04-02T17:08:42","slug":"heartland-renaissance-fund-llc-awarded-60-million-in-new-market-tax-credit-allocation","status":"publish","type":"post","link":"https:\/\/acccapital.com\/hi\/heartland-renaissance-fund-llc-awarded-60-million-in-new-market-tax-credit-allocation\/","title":{"rendered":"Heartland Renaissance Fund LLC Awarded $60 Million in New Market Tax Credit Allocation"},"content":{"rendered":"

The Department of Treasury has just announced that Heartland Renaissance Fund<\/strong> has been selected by the CDFI Fund to receive an allocation of $60 million New Market Tax Credits. This will be Heartland\u2019s fourth NMTC allocation bringing its total NMTC allocations to $200 million. The announcement from the Department of Treasury can be viewed here<\/a>. U.S. Department of Treasury Deputy Secretary Neal Wolin today\u00a0announced that Heartland Renaissance Fund LLC has been selected by the Community Development Financial\u00a0Institutions Fund (CDFI Fund) to receive an allocation of $60 million through the New Markets Tax Credit\u00a0Program (NMTC). Today\u2019s announcement will make Heartland Renaissance Fund\u2019s fourth NMTC allocation,\u00a0bringing its total NMTC allocations to $200 million. Department of the Treasury\u2019s CDFI Fund named 70 organizations as recipients\u00a0of the $3.6 billion in tax\u00a0credits for use in low-income communities under the 2011 round of the NMTC Program. C. Sam Walls, Chairman of Heartland Renaissance Fund, commented, <\/p>\n

\u201cWe are extremely pleased to have been\u00a0successful in acquiring New Market Tax\u00a0Credits to finance projects that result in job creation, enhanced\u00a0community services, and more access to health care and education. Achieving an award of these credits is not\u00a0easy as it is a highly competitive process and our success is a testament to the\u00a0quality of the work of all who\u00a0are associated with this project. We are eager to employ these credits in a manner which is most beneficial to\u00a0our state and, as in the past, we look forward to working with our partners to achieve these goals.\u201d<\/p><\/blockquote>\n

Walls applauded the dedicated efforts of the Arkansas Congressional delegation. \u201cWe appreciate the hard\u00a0work they put forward in helping us secure this allocation.\u201d<\/em> Arkansas Senator Mark Pryor also lauded the economic impacts of the NMTCs in Arkansas: <\/p>\n

\u201cHeartland\u00a0Renaissance has helped launch a number of promising economic and educational projects, making\u00a0a real difference in Arkansas communities,\u201d Pryor said. \u201cI was proud to support their application for\u00a0additional new market tax credits, and I look forward to the\u00a0new jobs and expanded opportunities that will\u00a0result from this award.\u201d<\/p><\/blockquote>\n

Second Congressional District Congressman Tim Griffin said his office was excited to learn that Heartland Renaissance Fund received the allocation. \u201cTheir efforts will not only lead to increased opportunity for Arkansans, it also will\u00a0help lay the groundwork for even stronger communities around our state.”<\/em> The NMTC Program, established by Congress in December 2000, permits individual and corporate taxpayers to receive a credit against federal income taxes for making qualified equity investments in investment vehicles known as Community Development Entities (CDEs) such as Heartland Renaissance Fund<\/strong>. The credit provided to the investor totals 39 percent of the cost of the investment and is claimed over a seven-year period. Substantially all of the taxpayer\u2019s investment must in turn be used by the CDE to make qualified investments. The 70 organizations were selected through a competitive application and rigorous review process.<\/p>","protected":false},"excerpt":{"rendered":"

The Department of Treasury has just announced that Heartland Renaissance Fund has been selected by the CDFI Fund to receive an allocation of $60 million New Market Tax Credits. This will be Heartland\u2019s fourth NMTC allocation bringing its total NMTC allocations to $200 million. The announcement from the Department of Treasury can be viewed here.<\/p>","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[112],"tags":[],"class_list":["post-138502176","post","type-post","status-publish","format-standard","category-new-markets-tax-credit-news","entry"],"acf":[],"yoast_head":"\nHeartland Renaissance Fund LLC Awarded $60 Million in New Market Tax Credit Allocation | ACC Capital<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/acccapital.com\/hi\/heartland-renaissance-fund-llc-awarded-60-million-in-new-market-tax-credit-allocation\/\" \/>\n<meta property=\"og:locale\" content=\"hi_IN\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Heartland Renaissance Fund LLC Awarded $60 Million in New Market Tax Credit Allocation | ACC Capital\" \/>\n<meta property=\"og:description\" content=\"The Department of Treasury has just announced that Heartland Renaissance Fund has been selected by the CDFI Fund to receive an allocation of $60 million New Market Tax Credits. 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