The U.S. Treasury Department and Community Development Financial Institutions (CDFI) Fund are seeking public responses by April 5 to questions relating to a planned new information collection project for the federal new markets tax credit program. The Fund intends to request approval from the Office of Management and Budget for new information collection activities associated with an independent, multi-year evaluation of the NMTC program. The one-time collection effort will gather information and data from NMTC program participants and stakeholders, including information on NMTC projects and activities not already required by the NTMC from community development entities (CDEs). The Fund is seeking OMB approval of the following new data collection efforts: (1) Case-style data collection on about 80 randomly sampled NMTC projects from telephone interviews with approximately 80 CDEs, 80 QALICBs, 80 investors, and 80 other key project stakeholders; (2) a Web-based survey of representatives of approximately 380 Qualified Active Community Low Income Businesses (QALICBs); and (3) a Web-based survey of approximately 380 local community/economic development officials.
The broader evaluation will include: (a) A review of the relevant economic development, performance measurement, and tax credit literature; (b) interviews with key NMTC stakeholders; (c) an analysis of NMTC administrative data; (d) the development of a typology of NMTC projects; and (e) an examination of secondary public and private data.
The evaluation is intended to help guide decisions on important program policy questions, including (1) How and in what manner the program is affecting the flow of new private capital to low-income communities?; (2) Where, in what timeframe, and how that capital is invested to achieve community and economic development. Read more…
