Heartland Renaissance Fund (HRF) announced today that New Market Tax Credits (NMTC) have been allocated to a project in Clinton, Arkansas. The project, developed by Burnt Ridge Enterprises, will include a 30,000 square foot medical office facility on Highway 65 South. The New Markets Tax Credit (NMTC) Program was established as part of the Community Renewal Tax Relief Act of 2000. The goal of the program is to spur revitalization efforts of low-income and other communities underserved by traditional capital across the United States and Territories. The NMTC Program provides tax credit incentives to investors for equity investments in certified Community Development Entities, such as Heartland Renaissance Fund (HRF), which invest in low-income communities and projects.
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