More Awardees in Round 10 for Reauthorized NMTC Program

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In April 2013, 85 community development entities (CDEs) were selected to receive $3.5 billion in tax credits under the tenth round of the New Markets Tax Credit (NMTC) program from the U.S. Department of the Treasury. Selected from 282 applicants that requested more than $21.9 billion, LIIF was awarded $55 million in NMTC allocation authority, bringing its total NMTC allocation to $265 million.

The June issue of the Novogradac Journal of Tax Credits featured a number of the 2012 allocatees, including LIIF. Noting LIIF’s focus towards comprehensive community development projects, Judi Kende, LIIF’s senior vice president of eastern and central regions stated that, “We’re going to place an emphasis on integrated, holistic approaches to neighborhood development.”

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Source: Novogradac Journal of Tax Credits