Tax Credits Spur Investment in Distressed Communities

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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.

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Source: HispanicBusiness.com