U.S. Department of the Treasury’s Deputy Secretary Neal Wolin along with U.S. Senator Mary Landrieu, U.S. Representative Cedric Richmond, and Community Development Financial Institutions Fund (CDFI Fund) Director Donna J. Gambrell, announced $3.6 billion in New Markets Tax Credit (NMTC) awards to 70 community development entities (CDEs) nationwide under the 2011 NMTC program funding round. The 70 organizations receiving awards were selected from a pool of 314 applicants that requested over $26.7 billion. They are headquartered in 29 different states and the District of Columbia; but have identified principal service areas that will cover nearly every state in the country.

We congratulate the following NH&RA Members for receiving 2011 Allocations:

  • Bank of America CDE
  • CityScape Capital Group
  • Dudley Ventures, LLC
  • National Development Council
  • Local Initiatives Support Corporation
  • Massachusetts Housing Investment Corporation
  • Mid-City Legacy, LLC
  • National Cities Fund / Historic Restoration Incorporated
  • National Trust Community Investment Corporation
  • PNC Bank
  • The Community Builders
  • US Bank
  • Wells Fargo

The 2011 NMTC Award List, information about the 2011 NMTC Award Round and more can be found on the CDFI Fund website.

You may learn more about NH&RA’s New Markets Tax Credit Steering Committee and ways to get involved, by visiting the NMTC Steering Committee webpage on NH&RA’s website.