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CDFI Fund Awards $5 Billion in NMTC Authority to 102 CDEs in CY 2022 Allocation Round

Friday, September 22, 2023 - 8:15AM

The Community Development Financial Institutions (CDFI) Fund today announced the allocation of $5 billion in new markets tax credit (NMTC) authority for the calendar year 2022 (CY 2022) allocation round. One-hundred-and-two community development entities (CDEs) received allocations. The CDEs are located in 36 states and the District of Columbia. More than 20% of the investments are slated for rural communities. According to the CY 2022 NMTC Program Award Book, 49 of this year’s awardees will focus investment activities on a national service area, 20 will focus on a multi-state area, 18 will focus on a specific state and 15 will focus on specific local markets. The award amounts range from $20 million to $65 million.

Join CDEs, investors, developers and other community development professionals to discuss this latest allocation round and what’s on tap for the CY 2023 round Oct. 26-27 at the Novogradac 2023 Fall New Markets Tax Credit Conference at the Four Seasons in New Orleans

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