The U.S. Treasury’s Community Development Financial Institutions Fund (CDFI Fund) will announce this afternoon the recipients chosen to receive an allocation through the New Market Tax Credit Program (NMTC). These credits are designed to increase capital investments in low-income communities. The announcement will be made at 2pm CST on Thursday, February 23rd from New Orleans by Deputy Secretary Neal Wolin, U.S. Senator Mary Landrieu, and U.S. Representative Cedric Richmond. It is a highly competitive process to be awarded New Market Tax Credits, though Arkansas-based Community Development Entity (CDE), Heartland Renaissance Fund, has been awarded 3 allocations in the past totaling $140 million dollars. Heartland has applied for this round of New Market Tax Credits, and an allocation could mean the possibility of more projects in underserved communities that might not have been possible otherwise. View the press release here.
Footer
