The Community Development Financial Institution (CDFI) Fund announced its plans to update program eligibility criteria for the New Markets Tax Credit (NMTC) Program to reflect new data from the 2006-2012 American Community Survey (ACS). The Fund is currently analyzing 2006-2010 ACS data to update eligible areas based on new poverty and income data. CDFI Fund hopes the new NMTC program eligibility tables, along with policies governing this transition, will be ready for release by May 2012.
The agency also noted its plans to develop a new Community Investment Mapping System (CIMS) reflecting new program eligibility. The CIMS tool will allow users to locate eligible Census tracts for all programs on a map, and geocode addresses to the new Census tract boundaries. This tool is expected to be available by the end of September 2012.
Click here to read the CDFI Fund notice.
