The U.S. Department of Treasury's Community Development Financial Institutions Fund (CDFI Fund) announced that 73 community development entities throughout the nation will receive a total of $3.5 billion in New Market Tax Credit awards. These awards were made through the calendar year (CY) 2017 round of the New Markets Tax Credit Program (NMTC Program). View the CDFI Fund press release.
The award recipients are headquartered in 29 different states, Guam, and the District of Columbia. The CDFI Fund estimates these award recipients will make more than $685 million in New Markets Tax Credit investments in non-metropolitan counties.
Of the 73 CDEs:
- 32 were certified CDFIs or subsidiaries of certified CDFIs.
- 25 were OFN Members. They received allocations totaling $1.265 billion.
- 13 were minority-owned or controlled entities. They received allocations totaling $555 million.
- 14 met the criteria for Rural CDE. They received allocations totaling $685 million
We would like to congratulate all the award recipients, especially our OFN Members:
- Capital Impact Partners
- Cincinnati Development Fund
- Community Health Center Capital Fund
- Community Loan Fund of NJ
- Corporation for Supportive Housing
- Dakotas America (Dakota Resources)
- Empowerment Reinvestment Fund, LLC (TruFund Financial Services)
- ESIC New Markers Partners LP (Enterprise Community Loan Fund)
- Florida Community Loan Fund
- HEDC New Markets (National Development Council)
- Hope Enterprise Corporation
- Low Income Investment Fund
- Montana CDC
- Nonprofit Finance Fund
- Northern California Community Loan Fund
- Opportunity Fund
- Partners for the Common Good
- PeopleFund NMTC LLC (PeopleFund)
- PIDC Community Capital
- Primary Care Development Corporation
- Raza Development Fund
- The Reinvestment Fund
- The Housing Partnership Network