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CDFI Fund: NMTC Allocation Awards to be Announced June 1

Tuesday, May 30, 2006 - 1:30PM

The New Markets Tax Credit (NMTC) Coalition reports, and the Community Development Financial Institutions (CDFI) Fund confirms, that the fourth round of NMTC allocation awards will be announced on Thursday, June 1, 2006. The NMTC Coalition reports that the Treasury Department is in the process of calling congressional offices to notify them of local recipients. The CDFI Fund received 254 applications requesting more than $28 billion in NMTC allocation authority for the fourth allocation round. There is $4.1 billion available, including an additional $600 million in NMTC authority that was authorized by the Gulf Opportunity Zone (GO Zone) Act to help rebuild low-income communities affected by Hurricane Katrina.

To discuss the allocation awards, join Novogradac & Company LLP at the 5th Annual New Markets Tax Credit Spring Conference in Washington, D.C., June 7-9, 2006.

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