Between FY03-11, the U.S. Department of Treasury's Community Development Finance Institutions (CDFI) Fund supported $26.4 billion in private investment through the New Market Tax Credits (NMTC) program, according to data released by the fund. The CDFI Fund helps economically distressed communities leverage private investment capital by offering investors a federal tax credit. During its first nine years, participating Community Development Entities (CDE) leveraged their NMTC allocations to invest in 3,499 projects related to real estate, business development, microenterprise finance and other purposes in mostly low-income communities.
To read the original article: SSTI - SSTI Weekly Digest
