CDFI Fund Releases new NMTC Application, FAQ Document

Friday, October 4, 2019 - 9:15am

The Community Development Financial Institutions (CDFI) Fund Thursday released an updated new markets tax credit (NMTC) application and NMTC application frequently asked questions document. Among other things, the application provides greater detail and examples about what constitutes qualified low-income community investment (QLICI) closing; includes a new question on how the CDFI Fund will calculate whether an applicant meets the qualified equity investment issuance and QLICI closing thresholds; and features a new question concerning how an applicant should approach the application if it submits a request to modify its community development entity service area but won’t know the outcome of the request before the application is due.