New NMTC Funding Round to Open

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AS THE Tax Credit Advisor went to press in mid-December, the Community Development Financial Institutions (CDFI) Fund was about to open the next funding round for the federal new markets tax credit (NMTC).
         The CDFI Fund was expected the week of December 17th to post the Notice of Allocation Availability (NOAA) on its Web site (http://www.cdfifund.gov) together with a news release announcing the round and the application deadline. The posting is to be a little before the Fund publishes the NOAA in the Federal Register.
         The anticipated application deadline is expected to be within the first two weeks of March 2008.
         A total of $3.5 billion in NMTC allocation authority will available in the program’s sixth funding round.