It’s Not Just the Census Tract: Community Impact Is More Important Than Ever in NMTC Program

By Caitlin Jones
August 24, 2011 1 min read

It’s Not Just the Census Tract: Community Impact Is More Important Than Ever in NMTC Program

By Caitlin Jones
August 24, 2011 0 min read

Tax Credit Advisor, August 2011: Community development entities (CDEs) and investors are placing much greater weight on the level of community impact of federal new markets tax credit projects, both in project selection and in the pricing for the tax credits.

This gravitation toward projects with high community impact — those providing substantial benefits to low-income communities and low-income persons (e.g., jobs, services, spurring other investment) — appears to be the result of increased emphasis in this area in the program’s 2011 funding round and as a reaction to a negative Bloomberg magazine article published earlier this year. That article, which focused in part on a luxury Chicago hotel financed with new markets tax credits, suggested that the program has helped finance hundreds of “upscale” projects “on streets far from poverty.”

NH&RA Presenting Sponsor

Leveraging NMTC and GGRF

A Synergistic Approach to Community Development

Jennifer Kirkley & Regan St. Pierre • September 13, 2024 6 min read

Increasingly, climate solutions are central to preserving and creating wealth and well-being in communities across the country.

What Can Be Done About Insurance?

NH&RA Panelists Explore Ways to Rein in High Insurance Costs for Affordable Housing

Pamela Martineau • September 1, 2024 6 min read

Meet with your underwriter in person, provide as much data as possible on relevant inspections and offer photos of improvements you’ve made to affordable housing properties. These were just a few of the tips offered at the National Housing & Rehabilitation Association’s Summer Institute Panel: “What Can Be Done About Insurance?”

Rainbow Housing: Transforming Resident Services from Within

Abram Mamet • September 1, 2024 9 min read

For most organizations, radical shifts in market strategy and company makeup generally come after crises. For Rainbow Housing Assistance Corporation (Rainbow), that radical shift came not as a result of significant challenges, but as a way to leverage successful internal practices to better serve the affordable housing industry.