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CDEs Request $17.6 Billion in 2015 NMTC Round

Monday, January 25, 2016 - 3:15PM

The Community Development Financial Institutions (CDFI) Fund today announced that it received 238 applications from community development entities (CDEs) requesting a combined $17.6 billion in allocation authority under the 2015 round of the New Markets Tax Credit (NMTC) program. The requested amount is five times the $3.5 billion in authority available for the 2015 round. Applicants in the 13th round are headquartered in 43 states, the District of Columbia, Puerto Rico and Guam.

Through the first 12 rounds of the NMTC program, the CDFI Fund has made 912 awards totaling $43.5 billion in tax credit allocation authority. This includes $3 billion in Recovery Act Awards and $1 billion for Gulf Opportunity Zones.

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