CDFI Fund

ICAST’s IRA & BIL Instant Benefit Estimate Calculator is now available on NH&RA’s website under the Resources section.

The electronic application for the 2017 round of the New Markets Tax Credit Program (NMTC Program) is available for applicants through their Awards Management Information System (AMIS) accounts. The Community Development Financial Institutions Fund (CDFI Fund) published the Notice of Allocation Availability for the 2017 round in the Federal Register on May 4, 2017.  Community […]

The CDFI Fund announced Thursday that the FY 2017 funding round will likely open in June of this year. An estimated $120 million will be available for the round.

The CDFI Fund released today the Notice of Allocation Availability (NOAA) for the calendar year (CY) 2017 round of the New Markets Tax Credit Program (NMTC Program). The NOAA makes up to $3.5 billion in tax credit allocation authority available for the CY 2017 round.

NH&RA’s New Markets Tax Credit Council will be hosting a call in the near future to discuss these changes and looks forward to your contributions towards a comment letter. Read on for a summary of changes.

The FY 2016 round moves the CDFI Fund past the $2B mark in investments to CDFIs and Native CDFIs through the CDFI and NACA Programs.

The data covers 4,541 total Qualified Active Low-Income Community Businesses and almost $38.5B in NMTC investments.

By combining the CY 2015 and CY 2016 allocation rounds, the CDFI Fund will be able to announce the allocation of New Markets Tax Credits in the year for which they are authorized, and will be able to help more communities access the benefits of the tax credits sooner.

CDFIs and qualified non-profits can use Capital Magnet Fund awards to create financing tools such as loan loss reserves, revolving loan funds, risk-sharing loans, and loan guarantees.

Funds are available to CDFIs and qualified non-profit organizations. Capital Magnet Fund awardees are able to utilize funds to create financing tools such as loan loss reserves, revolving loan funds, risk-sharing loans, and loan guarantees. Applications are due March 16.

The CDFI Fund received 238 applications for New Markets Tax Credit allocations from 43 states, the District of Columbia, Puerto Rico, and Guam. The CDEs requested more than 5 times the available authority of $3.5 billion.

The revised answers to NMTC frequently asked questions add, revise, and update earlier versions from December 2014 and October 2015.

Community Development Entities interested in applying for New Markets Tax Credit allocation authority under the 2015 round have until 5:00 pm EST, on December 16, 2015 to submit their application.