Community Revitalization Efforts Receive $3.5 Billion in Tax Credits

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Emphasizing the importance of New Market Tax Credits (NMTC) on economic recovery in distressed areas, the U.S. Department of the Treasury profiled several NMTC transactions across the country, including LIIF’s recent investment with St. Anthony Foundation in San Francisco. The Treasury’s profile of projects comes on the heels of the NMTC program’s 11th round of allocations. Selected from a pool of 310 applicants, LIIF received an allocation of $48 million, its seventh allocation award. LIIF’s previous NTMC award helped St. Anthony Foundation finance the construction of a new dining room, clothing distribution center, food pantry and social work center.

Read the full article at the U.S. Department of the Treasury
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Source: U.S. Department of the Treasury