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CDFI FUND AWARDS $3.6 BILLION IN NMTC ALLOCATION AUTHORITY

Thursday, February 23, 2012 - 8:00AM

U.S. Department of the Treasury’s Deputy Secretary Neal Wolin, joined by Louisiana’s U.S. Senator Mary Landrieu and U.S. Representative Cedric Richmond, and Community Development Financial Institutions (CDFI) Fund Director Donna Gambrell today announced the 70 community development entities (CDEs) selected to receive $3.6 billion in tax credits under the ninth round of the New Markets Tax Credit (NMTC) program. The 70 organizations receiving awards were selected from a pool of 314 applicants that requested more than $26.7 billion. The 2011 NMTC awardees are headquartered in 29 different states and the District of Columbia; but have identified principal service areas that will cover nearly every state in the country, as well the District of Columbia. A list of the organizations selected and additional information about today’s announcement can be found on the CDFI Fund's web site.

Links to information from all nine NMTC allocation rounds to date can also be found online at www.newmarketscredits.com.

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