Transcription of 2020 Introduction to the New Markets Tax Credit Program
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Introduction to the New Markets Tax Credit ProgramPREPARED ONSeptember 15, 2020 The CDFI Fund is an equal opportunity provider. Overview of CDFI Fund Programs & Initiatives NMTC Program Key Terms NMTC Program History and Overview CDEC ertification How can NMTCs work for your organization? Information on Prior NMTC AllocationsPresentation Roadmap9/15/2020// 2 Created in 1994 Mission: To expand economic opportunity for underserved people and communities by supporting the growth and capacity of a national network of community development lenders, investors, and financial service providers. Vision: An America in which all people and communities have access to the investment capital and financial services they need to Fund Overview9/15/2020// 3 The CDFI Fund achieves its mission by directly investing in and supporting Community Development Financial Institutions(CDFIs), Community Development Entities (CDEs), and other financial institutions through the following programs and initiatives: Bank Enterprise Award (BEA) Program CDFI Bond Guarantee Program Capital Magnet Fund (CMF) CDFI Program (FA & TA) Na
• Residential rental property – Buildings or structures that derive 80% or more of their gross rental income from renting dwelling units. • Certain types of businesses: • Refer to IRS regulations for additional details. Activities Ineligible for NMTC Investment - Golf courses - Massage Parlors - Race tracks - Hot tub facilities
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