CDFI Fund Awards $5 Billion in NMTCs to 107 CDEs in CY 2021 Allocation Round
The Community Development Financial Institutions (CDFI) Fund today announced the allocation of $5 billion in new markets tax credits (NMTCs) in the calendar year 2021 (CY 2021) allocation round. A total of 107 community development entities (CDEs) were awarded allocations. The CDEs are based in 35 states and the District of Columbia and more than 20% of the NMTC-financed investments will be made in rural communities. The CDFI Fund also released the annual award book, which reports that of the 107 allocatees, 45 will focus investment activities on a national service area, 25 will focus on a multi-state area, 18 will focus on a specific state and 19 will focus on specific local markets. The allocation amounts range from $20 million to $60million.
Tune in to the Nov. 8 Tax Credit Tuesday podcast to hear insights about the 18th allocation round from Michael Novogradac, Brad Elphick and Rebecca Darling. And join NMTC leaders and allocatees at the Novogradac 23rd Annual New Markets Tax Credit Conference in San Diego, Jan. 19-20, 2023.