The Community Development Financial Institutions (CDFI) Fund recently announced that it had received a total of 249 applications for New Markets Tax Credits (NMTC) under the 2009 funding round. A total of nearly $22.5 billion in NMTC authority was requested by applicants, while only $5 billion in authority is available in the 2009 round, including an additional $1.5 billion under the American Recovery and Reinvestment Act. CDFI Fund expects that it will announce the awards in October 2009. read more…
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