The U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund has released preliminary data on projects financed by New Markets Tax Credits through December 31, 2009 by organizations that were awarded allocations of NMTCs. Through the FY 2009 reporting period, CDEs disbursed a total of $15.8 billion in QEI proceeds to 2,955 QALICBs.
- 2,433 QALICBs (82.34% of total) were located in metropolitan areas and received $14.3 billion in NMTC financing (90.35% of total).
- 522 QALICBs (17.66% of total) were located in non-metropolitan areas and received $1.5 billion in NMTC financing (9.65% of total).
- 1,399 QALICBs (47.34% of total) were “real estate QALICBs,” where the principal activity is the development or leasing of real estate. These real estate QALICBs received $9,973,203,499 in NTMC financing (63.00% of total).
- 1,515 QALICBs (51.27% of total) were “non-real estate QALICBs,” or operating businesses. These businesses received $5,506,170,644 in NMTC financing (34.78% of total).
A summary report listing all QALICBs financed by CDEs and a map of all QALICBs financed by CDEs are available through the CDFI Fund’s website.
