NMTC Archives

There may still be some lingering misperception that the New Markets Tax Credit (NMTC) is not for housing. While the NMTC is primarily used for economic development, there are three cases where it can support affordable housing. One is if the commercial and housing components of a project are segregated into separate legal condominiums. The second is if Low Income Housing Tax Credits are not used in the deal. And the third is if the residential rents do not exceed 80 percent of revenue in the project.

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

Throughout the mid-20th century, transportation authorities constructed massive infrastructure projects through urban centers, particularly, but not exclusively, highways.

For those in affordable housing considering their legacies, there is the example of Philip Freelon to consider.

When it was founded in 2004, Greenline Ventures was one of the earliest adopters, and today remains one of the most frequent users, of New Markets Tax Credits to invest in small businesses in underserved communities throughout the country.

The New Markets Tax Credit (NMTC), approved by Congress in 2000, is a critical element of financing for community projects and businesses in distressed communities.

Bank of America Community Development Banking (CDB) provided $7.85 billion in loans, tax credit equity investments and other real estate development solutions in 2022, surpassing the previous record of $6.7 billion generated in 2021.

Tribal LIHTC Developers Leading the Way