Tax Credits Spur Investment in Distressed Communities
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund announced the latest round of the New Markets Tax Credit (NMTC) awards totaling $3.5 billion to community development organizations nationwide. A piece on HispanicBusiness.com featured LIIF as one of the organizations that received NMTC allocation authority in the 2012 round. LIIF was awarded $55 million in NMTC allocation, bringing LIIF’s total NMTC allocation to $265 million in six rounds of awards.
The NMTC Program was established by Congress to encourage investment in businesses and real estate projects located in low income communities. LIIF has a strong track record of NMTC transactions across a broad range of projects including health centers, schools and community facilities.Read the full article on HispanicBusiness.com
- Learn more about LIIF’s New Market Credit Allocation
- Read more about LIIF’s New Markets Tax Credit Program