Nov. 7, 2023: Tips for Your CY 2023 NMTC Application
The Community Development Financial Institutions (CDFI) Fund last month released the application for the calendar year 2023 new markets tax credit (NMTC) allocation awards. In this week’s episode of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Rebecca Darling, CPA, discuss the new application and what applications and businesses that benefit from NMTC financing should know and should be doing. They discuss how the application is organized and scored, look at deadlines and examine changes to the application. Then they discuss how to approach the application, including how much time to expect and how Novogradac can assist community development entities (CDEs). They also talk about the communities outcomes section and what businesses should do to be on a CDE’s radar.