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CDFI Fund Announces NMTC Allocation Awards

Thursday, June 1, 2006 - 1:30PM

U.S. Treasury Secretary John W. Snow and Community Development Financial Institutions (CDFI) Fund Director Art Garcia announced today in Philadelphia, Pa. the names of the 63 organizations selected to receive tax credits for $4.1 billion in investments under the New Markets Tax Credit (NMTC) Program for their investment in low income communities. Snow included in his announcement the 13 organizations set to receive tax credits for $600 million in investment for specific use in the redevelopment of the Hurricane Katrina Gulf Opportunity Zone (GO Zone). In the four rounds to date, the CDFI Fund has made 233 awards totaling $12.1 billion in NMTC authority. A complete list of the 63 organizations selected and additional information can be found on the CDFI Fund's web site: www.cdfifund.gov.

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