CDFI Fund Announces 2008 New Markets Tax Credit Awards

摘要

The Community Development Financial Institutions (CDFI) Fund has awarded $3.5 billion in 2008 New Markets tax credit (NMTC) investment authority to 70 community development entities (CDEs), which will use the funds to support economic development activities in principal service areas in 46 states and the District of Columbia. The remaining states and territories may be served by CDEs with a national focus. Investors buying stock or partnership interests in the CDEs will get tax credits totaling 39 percent of their investment over seven, years. The 70 CDEs received allocations ranging from $6.25 million to $112 million. They were selected from 239 applicants that requested a total of $21.3 billion in NMTC investment authority.