The Community Development Financial Institutions (CDFI) Fund has posted on its web site instructions on how potential applicants can access and utilize the online Allocation Application now available for the 2009 competition funding round for the federal new markets tax credit (NMTC) Program. The instructions and other application materials can be found under the “Application Materials“ section of the NMTC Program webpage. The deadline for submitting an online Allocation Application is April 8, 2009. Originally $3.5 billion in NMTCs was to be available in the 2009 funding round. But the recent American Recovery and Reinvestment Act has added another $1.5 billion for the round. Details on the implementation of the additional allocation authority will be forthcoming, according to the CDFI Fund.
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