On Thursday, June 6 the Community Development Financial Institution (CDFI) Fund announced the calendar year 2013 New Markets Tax Credit (NMTC) allocations. A total of 310 Community Development Entities (CDEs) applied, requesting a total of approximately $25.9 billion in allocations. Of that, the CDFI allocated $3.501 billion, or about 13.5 percent of the total amount requested. Of those allocations, the following NH&RA members received an award:

  • Banc of America CDE, LLC, $48 million
  • CapFund New Markets LLC, $35 million
  • Commonwealth Cornerstone Group, $33 million
  • ESIC New Markets Partners LP, $48 million
  • Greater Wisconsin Opportunities Fund, Inc., $50 million
  • Greenline Community Development Fund, LLC, $35 million
  • Local Initiatives Support Corporation, $60 million
  • MHIC NE New Markets CDE II LLC, $60 million
  • Mid-City Community CDE, LLC, $33 million
  • PNC Community Partners, Inc., $60 million
  • RBC Community Development, LLC, $28 million
  • Telesis CDE Corporation, $15 million
  • The Valued Advisor Fund, LLC, $51,392,113

NH&RA congratulates all those who received an award!

Quick Facts About 2013 NMTC Allocations:

  • The 87 Allocatees are headquartered in 32 different states and the District of Columbia.
  • Approximately $2.011 billion will be invested in major urban areas. $680 million will be invested in minor urban areas. $742 million in rural areas.
  • Approximately $2.575 billion of NMTC investment proceeds will likely be used to finance and support loans to or investments in businesses in low-income communities.
  • Approximately $830.713 million (24.2 percent) of NMTC investment proceeds will likely be used to finance and support real estate projects in low-income communities.
  • Approximately $20.488 million (0.6 percent) of NMTC investment proceeds will likely be used to provide capital to other CDEs.

Click here to read the CDFI Fund press release
Click here to view the Award Book as well as key facts and statistics about the Allocatees
Click here to view the Searchable Award Database
Click here to view the States Served Map