CDFI Fund Opens $3.5 Billion CY 2018 NMTC Allocation Round
The Community Development Financial Institutions (CDFI) Fund today opened the calendar year 2018 new markets tax credit (NMTC) allocation round. A notice of allocation availability will be published Friday, making $3.5 billion available for the current round. Applications for allocation authority are due June 28. Community development entities must submit their certification applications by May 24 and June 26 is the last day that the CDFI Fund will answer questions about the application. Prior allocatees must record their qualified equity investments in CDFI Fund systems by Sept. 24 and allocation awards will be announced during winter 2019. The CDFI Fund released an introduction to the NMTC program, 2018 NMTC application frequently asked questions and a roadmap presentation on important information and resources for the 2018 NMTC application round.